Bausch + Lomb Corporation (BLCO)
Bausch + Lomb Corporation is a global eye health company specializing in the development, manufacturing, and marketing of pharmaceutical and device-based products for eye care. Founded in 1853, the company offers a range of products including contact lenses, lens care solutions, ophthalmic pharmaceuticals, and surgical instruments, serving eye care professionals and consumers worldwide.
Company News
Activist investor Jana Partners has taken a stake in Cooper Companies and is pushing for strategic alternatives, including a potential merger between Cooper's contact lens division and Bausch + Lomb to improve shareholder value.
Global contact lenses market projected to grow from $14.78 billion in 2024 to $29.35 billion by 2034, driven by technological innovations, rising vision health awareness, and integration of AR/VR technologies.
Bausch + Lomb, the eye care specialist, is reportedly exploring a sale, with large U.S. investment companies Blackstone and TPG showing interest in making a buyout bid. The company has also recently received FDA approval for its enVista Envy vision intraocular lenses.
Bausch + Lomb reported $1.22 billion in revenue for Q2 2024, a 17.5% year-over-year increase. EPS was $0.13, down from $0.18 a year ago. The company's performance was mixed, with some business segments exceeding expectations while others fell short.