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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 (BLCO) has announced significant achievements in its eye care recycling initiatives. The ONE by ONE and Biotrue® Eye Care Recycling programs have successfully recycled a total of 65.8 million units, equivalent to 397,194 pounds of waste, since their inception. The ONE by ONE program, launched in 2016, has collected over 65 million used contact lenses and related materials, while the Biotrue® program, initiated in 2021, has gathered more than 440,000 eye drop units and lens cases. With nearly 13,000 eye care practices participating, these programs aim to mitigate plastic waste and contribute to sustainability efforts. Bausch + Lomb collaborates with TerraCycle for recycling operations, emphasizing their commitment to environmental health.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) will release its first-quarter 2023 financial results on May 3, 2023, at 8:00 a.m. ET. The company will conduct a conference call and live webcast to discuss these results and provide a business update. Interested parties can access the webcast through the Investor Relations section of the Bausch + Lomb website. Additionally, a replay of the conference call will be available until May 17, 2023.
Bausch + Lomb operates globally with over 400 products in its portfolio, emphasizing eye health. Founded in 1853, the company employs approximately 13,000 individuals and maintains a presence in nearly 100 countries.
Bausch + Lomb and Heidelberg Engineering have launched the SeeLuma™ Fully Digital Surgical Visualization Platform, enhancing surgical procedures for ophthalmic surgeons. The platform provides superior visualization compared to existing surgical microscopes, featuring heads-up 3D monitors, multiple digital display options, and an intuitive interface. First launched in the United States and Western Europe, SeeLuma aims to improve surgical outcomes through its ergonomic design and educational features. The high-quality imaging capabilities, including 4K resolution and enhanced anatomical landmark visualization, position SeeLuma as a key tool for modern ophthalmic surgeries. This innovation reflects the companies' commitment to advancing surgical technology and improving patient care.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) announced on April 12, 2023, the appointments of Bob Bailey as Executive Vice President and Chief Legal Officer and Andrew Stewart as President of Ophthalmic Pharmaceuticals, effective April 24, 2023. Both will join the executive management team. Christina Ackermann will step down from her role and leave the company on April 28, 2023. Brent Saunders, the company's CEO, expressed confidence in Bailey and Stewart's ability to create value and ensure long-term success for Bausch + Lomb. Bailey returns after 18 years, while Stewart comes with extensive experience from AbbVie, focusing on enhancing the company’s prescription medicines and ophthalmic product portfolio.
Bausch + Lomb Corporation (BLCO) and Novaliq GmbH announced the publication of Phase 3 trial results for NOV03 (perfluorohexyloctane), a potential treatment for dry eye disease linked to Meibomian gland dysfunction. The trial met primary efficacy endpoints, demonstrating significant improvements in both corneal staining and dryness scores at 8 weeks. NOV03, which targets excessive tear evaporation, was well tolerated with minor adverse events. The FDA has set a Prescription Drug User Fee Act (PDUFA) action date of June 28, 2023, with further data expected from ongoing studies, marking an important step for addressing the needs of millions suffering from this condition.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) reported its fourth-quarter and full-year 2022 financial results with revenues of $996 million for Q4 and $3.768 billion for the year, showing organic revenue growth of 5% across all segments. The company faced a net loss of $1 million in Q4 compared to a $51 million profit in the same period the previous year. Adjusted EBITDA decreased to $181 million for Q4 and $720 million for the year. Despite foreign exchange impacts, the Vision Care and Surgical segments performed well, with notable product launches and a focus on strategic partnerships. Brent Saunders was appointed as the new CEO effective March 6, 2023.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has appointed Brent Saunders as CEO and Chair of the Board, effective March 6, 2023. He succeeds Joseph C. Papa, who steps down as CEO and director. Saunders, who previously served as CEO from 2010 to 2013, brings over 25 years of health care leadership experience. The Board expressed confidence in Saunders' ability to guide the company through its separation from Bausch Health. During his advisory role beginning February 16, 2023, he collaborated closely with Papa to ensure a smooth transition. The company focuses on advancing eye health and developing innovative treatments.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has announced a new social media campaign titled ‘What Sight Inspires You’, aimed at raising awareness for Age-related Macular Degeneration (AMD) during AMD Awareness Month in February. The campaign focuses on personal stories from the SightMatters community, which supports individuals living with AMD. Approximately 16 million Americans suffer from this condition, with numbers projected to rise. Although there is no cure, lifestyle changes and collaboration with eye doctors can help manage AMD risks. This initiative reflects Bausch + Lomb's commitment to eye health and supporting patients.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) and Modulight Corporation announced FDA approval for the ML6710i photodynamic laser. This laser is approved for use with Bausch + Lomb's VISUDYNE® therapy, targeting predominantly classic subfoveal choroidal neovascularization caused by Age-related Macular Degeneration (AMD). The ML6710i, designed for easy use and transport, will be available in the first half of 2023. This innovation addresses a significant unmet need in photodynamic therapy, allowing eye care professionals to treat patients more effectively.
Bausch + Lomb Corporation (BLCO) will announce its fourth-quarter and full-year 2022 financial results on February 22, 2023. The company will hold a conference call at 8:00 a.m. ET to discuss the financial outcomes and provide an update on business developments. Interested parties can access the call via web link or dial-in options for both North American and international participants. Replay details will also be available until March 8, 2023.
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