Bausch + Lomb Corporation (BLCO) is a global leader in eye health, dedicated to protecting and enhancing vision for people worldwide. The company operates across research, development, manufacturing, and commercialization, offering a diverse portfolio of approximately 400 products. BLCO's offerings include contact lenses, eye care solutions, prescription eye medications, surgical devices, and over-the-counter eye health products, serving customers in about 100 countries.
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Vision Care - Produces contact lenses and consumer eye care products, including contact lens care solutions, over-the-counter eye drops, and eye vitamins. Key products include Bausch + Lomb INFUSE®, Biotrue® ONEday, Lumify®, and PreserVision®.
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Pharmaceuticals - Offers proprietary and generic pharmaceutical products for treating eye conditions such as glaucoma, dry eyes, and retinal diseases. Key products include XIIDRA®, Vyzulta®, and Lotemax®.
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Surgical - Provides medical devices, consumables, and technologies for ophthalmic surgeries, including cataract and retinal procedures. Key products include intraocular lenses (IOLs) like enVista® and surgical systems like Stellaris Elite®.
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- Considering the enVista recall and the swift return to market, what additional safeguards or changes in vendor oversight are you implementing to prevent similar quality issues from recurring and further impacting premium IOL revenue?
- With your guidance reflecting a 120 bps tariff headwind on adjusted EBITDA margin, which specific mitigation strategies do you expect to be most effective, and how will these actions adjust if tariffs intensify in the second half of 2025?
- In light of the headwinds facing your Pharmaceuticals segment—particularly with Xiidra's gross-to-net adjustments and underperforming U.S. generics—what targeted actions are you taking to drive profitability and market share in this increasingly competitive arena?
- Given the challenges of destocking and cautious consumer sentiment in key markets, how do you plan to sustain and accelerate the current mid-single-digit growth in your contact lens business, particularly for the Daily SiHy and related product lines?
- With the evolving competitive landscape in the cataract market and concerns around recessionary impacts, what initiatives are you pursuing to ensure sustained adoption of your premium IOLs and to mitigate potential declines in overall cataract volumes?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Part of the 2023 and 2024 peer group used for performance comparison, indicating its relevance in the industry and its inclusion in a customized peer group for benchmarking purposes. | |
Included in the 2023 and 2024 peer group for performance comparison, suggesting its significance in the eye care and medical device industry. | |
Listed as part of the 2023 and 2024 peer group, highlighting its role as a competitor in the broader healthcare and medical device sector. | |
Identified in the 2023 and 2024 peer group, reflecting its competitive position in the eye care and medical device market. | |
Part of the 2023 and 2024 peer group, indicating its relevance in the healthcare and medical device industry. | |
Included in the 2023 and 2024 peer group, showcasing its competitive presence in the medical device and healthcare sector. | |
Listed in the 2023 and 2024 peer group, emphasizing its role as a competitor in the medical device industry. | |
Part of the 2023 and 2024 peer group, highlighting its competitive position in the healthcare and medical device market. | |
Included in the 2023 and 2024 peer group, reflecting its relevance in the pharmaceutical and healthcare industry. | |
Identified in the 2023 and 2024 peer group, suggesting its competitive role in the pharmaceutical sector. | |
Listed as part of the 2023 and 2024 peer group, indicating its significance in the pharmaceutical and healthcare market. | |
Part of the 2023 and 2024 peer group, showcasing its competitive presence in the medical device and healthcare industry. | |
Included in the 2023 and 2024 peer group, highlighting its role as a competitor in the medical device sector. | |
Listed in the 2023 and 2024 peer group, emphasizing its competitive position in the medical device and healthcare market. | |
Part of the 2023 peer group but removed in 2024 to add more focus on companies with a position in the eye care industry. | |
Added to the 2024 peer group to strengthen the focus on companies with a position in the eye care industry. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
McKesson Corporation | Major wholesaler/distribution partner | All | Accounted for 10% of total revenues in 2024. Part of top two largest U.S. and Canada wholesaler customers that collectively made up 17% of net trade receivables as of December 31, 2024. |
Cardinal Health, Inc. | Major wholesaler/distribution partner | All | Accounted for 10% of total revenues in 2024. Part of top two largest U.S. and Canada wholesaler customers that collectively made up 17% of net trade receivables as of December 31, 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Whitecap Biosciences LLC | 2025 | Completed on January 3, 2025 with an upfront payment of approximately $28 million plus potential milestone and royalty payments; the acquisition strategically expands Bausch + Lomb's clinical-stage pipeline with innovative therapies for glaucoma and geographic atrophy. |
Trukera Medical | 2024 | Completed on July 19, 2024 for an aggregate purchase consideration of about $24 million (allocated among identifiable intangibles, other net assets, and goodwill); the deal enhances Bausch + Lomb's presence in the dry eye market by acquiring the ScoutPro diagnostic technology. |
XIIDRA® and Other Ophthalmology Assets | 2023 | Completed on September 29, 2023 with an upfront cash payment of $1,750 million and potential future milestone obligations up to $750 million; the acquisition of XIIDRA® and additional assets bolsters Bausch + Lomb’s dry eye franchise and ophthalmology portfolio. |
Blink® Product Line | 2023 | Completed on July 6, 2023 with an upfront cash payment of $107 million for a portfolio of eye and contact lens drops acquired from Johnson & Johnson Vision; the acquisition supports the growth of Bausch + Lomb's global over‑the‑counter business. |
AcuFocus, Inc. | 2023 | Completed on January 17, 2023 involving an upfront payment of $35 million (with contingent payments based on future sales milestones); this acquisition adds breakthrough small aperture intraocular technology (IC‑8® Apthera IOL) to strengthen Bausch + Lomb's surgical portfolio. |
Recent press releases and 8-K filings for BLCO.
- Bausch + Lomb Corporation (BLCO) announced the closing of an upsized €675 million aggregate principal amount of senior secured floating rate notes due 2031.
- The company completed a partial refinancing of its credit agreement, which included entering into a third amendment for a $2.325 billion term B loan facility maturing in 2031 and an $800 million revolving credit facility maturing in 2030.
- The net proceeds from the notes offering and the new term B loans were used to repay outstanding borrowings under the existing revolving credit facility and to refinance existing term A and term B loans due 2027, as well as to pay related fees and expenses.
- Glancy Prongay & Murray LLP is continuing a securities fraud investigation into Bausch + Lomb Corporation (BLCO).
- The investigation follows BLCO's March 27, 2025, disclosure of increased reports of toxic anterior segment syndrome (TASS) associated with its enVista® intraocular lenses (IOLs) and the subsequent voluntary recall of enVista Envy, enVista Aspire, and enVista monofocal lenses.
- Following this news, BLCO's stock price fell $1.54, or 9.8%, closing at $14.13 per share on March 28, 2025.
- On April 30, 2025, BLCO reported an estimated $55 million impact to revenue and $65 million to adjusted EBITDA for full-year 2025 due to the recall, which led to a further stock price decline of $2.16, or 15.7%, on the same day.
- Pomerantz LLP is investigating claims on behalf of Bausch + Lomb Corporation investors concerning potential securities fraud or other unlawful business practices by the company and its officers/directors.
- The investigation follows a voluntary recall of intraocular lenses on its enVista platform announced on March 27, 2025, which caused Bausch + Lomb's stock price to fall $1.54 per share, or 9.83%, by March 28, 2025.
- On April 30, 2025, Bausch + Lomb reported an adjusted net loss of $54 million for the first quarter of 2025 and lowered its full-year growth outlook to a range of 4.5% to 6.5% (from 5.5% to 7.5%), citing the enVista product recall among other factors.
- Following the Q1 2025 financial results and lowered guidance, Bausch + Lomb's stock price fell an additional $2.16 per share, or 15.74%, closing at $11.56 per share on April 30, 2025.
- The Law Offices of Frank R. Cruz announced a securities fraud investigation into Bausch + Lomb Corporation (BLCO).
- The investigation follows BLCO's March 27, 2025, disclosure of increased reports of toxic anterior segment syndrome (TASS) with its enVista® intraocular lenses (IOLs) and a voluntary recall of enVista Envy, enVista Aspire, and enVista monofocal lenses. This news caused BLCO's stock price to fall $1.54, or 9.8%, by March 28, 2025.
- On April 30, 2025, BLCO released its Q1 2025 financial results, estimating full-year 2025 recall headwinds of approximately $55 million to revenue and $65 million to adjusted EBITDA. This announcement led to a further stock price decline of $2.16, or 15.7%, on the same day.