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Bausch + Lomb Corporation (BLCO) is a globally recognized leader in the field of eye health, offering comprehensive solutions across three primary business segments: vision care, surgical, and ophthalmic pharmaceuticals. With a history spanning over a century, the company has cemented its reputation as a trusted provider of innovative products and services that address a wide range of eye care needs.
Core Business Segments
Vision Care
The vision care segment encompasses two primary categories: contact lenses and ocular health products. Bausch + Lomb holds a significant share of the global contact lens market, offering a diverse range of lenses tailored to different vision correction needs, including daily disposables, extended-wear lenses, and specialty lenses for astigmatism and presbyopia. Its ocular health products include over-the-counter solutions such as Biotrue and Lumify, which cater to dry eye relief, redness reduction, and overall eye health maintenance.
Surgical
The surgical segment focuses on advanced technologies and equipment designed for ophthalmic procedures. This includes a comprehensive suite of intraocular lenses (IOLs), instruments for cataract and vitreoretinal surgeries, and cutting-edge surgical systems. These solutions are widely used by ophthalmologists to improve patient outcomes in complex eye surgeries, reinforcing Bausch + Lomb's role as a key player in the surgical eye care market.
Ophthalmic Pharmaceuticals
Bausch + Lomb's ophthalmic pharmaceuticals segment features a diverse portfolio of prescription medications that address various eye conditions, including glaucoma, inflammation, and retinal diseases. Notable products include treatments such as Xipere, Vyzulta, and Lotemax. With over 100 prescription eye care products, the company offers one of the most extensive pharmaceutical portfolios in the industry, meeting the needs of both patients and healthcare professionals.
Market Position and Competitive Landscape
Bausch + Lomb operates in the highly competitive eye health and medical device industry, where innovation and trust are paramount. Its competitors include prominent players like Alcon and CooperVision, among others. The company's differentiation lies in its extensive product offerings, longstanding reputation, and commitment to advancing eye care through research and development. By addressing a wide spectrum of eye health needs, Bausch + Lomb has positioned itself as a comprehensive provider in the global market.
Challenges and Opportunities
Operating in a regulated industry, Bausch + Lomb faces challenges such as stringent compliance requirements, pricing pressures, and the need for continuous innovation to stay competitive. However, the company also benefits from opportunities in emerging markets, increasing prevalence of eye conditions, and growing demand for advanced surgical solutions and pharmaceutical treatments. Its ability to adapt to market dynamics and invest in cutting-edge technologies underscores its resilience and growth potential.
Commitment to Eye Health
Bausch + Lomb's mission is deeply rooted in improving lives through better vision. Its investments in research and development, coupled with a focus on quality and safety, reflect its dedication to delivering products that enhance eye health worldwide. As a publicly traded company, Bausch + Lomb continues to build on its legacy of innovation and trust, serving the needs of patients, healthcare providers, and partners across the globe.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has appointed Thomas W. Ross, Sr. as the new chair of the Board of Directors following the resignation of Joseph C. Papa. Mr. Papa remains CEO until a successor is found. The Board is actively searching for a new CEO while affirming the company's full-year guidance for 2022, initially announced on June 8. The company aims to complete its spinoff from Bausch Health (NYSE/TSX: BHC) in 2023, contingent on various approvals and market conditions, with no reported disagreements leading to Mr. Papa's departure.
Bausch + Lomb and Novaliq announced on July 7, 2022, the submission of a New Drug Application (NDA) for NOV03 (perfluorohexyloctane) to the FDA. This investigational treatment aims to address dry eye disease (DED) associated with Meibomian gland dysfunction (MGD), which affects approximately 18 million Americans. If approved, NOV03 would be the first therapy indicated for this condition. The NDA submission marks a significant milestone in Bausch + Lomb's commitment to developing innovative eye care solutions.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has announced that five presentations concerning the XIPERE® pivotal Phase 3 trial will be made at the American Society of Retina Specialists (ASRS) meeting from July 13-16, 2022, in New York. These presentations include a post-hoc analysis evaluating outcomes for macular edema linked to chronic uveitis. XIPERE® is the first treatment approved in the U.S. for delivery through the suprachoroidal space, demonstrating clinical efficacy in improving visual acuity.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has expanded its Board of Directors by appointing Brett Icahn and Gary Hu from the Icahn Group, effective immediately. This follows an amended agreement that allows the Icahn Group to have two Board members post the distribution of 80% of Bausch + Lomb's shares from Bausch Health. CEO Joseph C. Papa expressed optimism about the appointments, indicating they will support efforts to unlock shareholder value and enhance the company's focus on integrated eye health solutions.
Bausch + Lomb Corporation has launched Revive™ custom soft contact lenses in the U.S., available in various options including spherical and multifocal designs. These lenses cater to patients with high prescriptions and unique vision needs, addressing previously challenging fits. They are made from non-ionic materials, allowing for daily wear for up to three months. Eye care professionals benefit from a 120-day EZ-Exchange™ program to ensure optimal patient fit. This launch exemplifies Bausch + Lomb's dedication to innovating eye care technologies.
Bausch + Lomb reported first-quarter 2022 revenues of $889 million, up 1% year-over-year, with organic revenue growth of 5%. The Vision Care and Surgical segments drove performance, while the Ophthalmic Pharmaceuticals segment saw a 5% decline. GAAP net income was $20 million, down from $27 million a year prior. Adjusted EBITDA was $170 million, a decrease of $28 million. The company forecasts full-year revenues of $3.75 to $3.80 billion, reflecting anticipated growth of 4-5%.
Bausch + Lomb announced seven presentations featuring research on their new Biotrue® Hydration Plus Multi-Purpose Solution and Biotrue® Hydration Boost lubricant eye drops at the American Optometric Association's Optometry's Meeting from June 7-8, 2022. The company aims to share clinical and antimicrobial efficacy data, particularly emphasizing the use of hyaluronan, a natural tear moisturizer. Additionally, Bausch + Lomb will host various sponsored education events during the meeting in Chicago from June 15-18, 2022, targeting eye care professionals and digital gamers.
Bausch + Lomb (NYSE/TSX: BLCO) has launched a social media campaign during June, recognized as Cataract Awareness Month, to enhance public knowledge about cataracts and the necessity of routine screenings. The initiative is driven by the pressing need to address cataracts, which affect over 25 million Americans and are projected to rise by 50% by 2032. Educators aim to alleviate patient anxiety regarding cataract surgery, a procedure noted for its safety and effectiveness. The campaign encourages open discussions between patients and eye care professionals under the hashtag #CataractsDontWait.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has launched its new Biotrue® Hydration Plus Multi-Purpose Solution in the U.S., designed for contact lens users. This solution features 25% more hyaluronan for increased moisture, effective cleaning, and a triple disinfectant system. Approximately one-third of the 45 million U.S. contact lens wearers suffer from dryness. The product is now available at major retailers with prices starting at $7.99. Bausch + Lomb also promotes recycling through its unique eye care recycling program.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) will announce its first-quarter 2022 financial results on June 8, 2022, at 8:00 a.m. ET. A conference call and live webcast will follow to discuss the results and provide a business update. Materials will be available on the company's Investor Relations website before the call.
Founded in 1853, Bausch + Lomb focuses on eye health products, with a portfolio of over 400 products and a presence in nearly 100 countries.
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