Bausch + Lomb: 2nd quarter 2022 report

August 09, 2022 Posted by Bausch + Lomb

 

Bausch + Lomb recently reported that its second-quarter revenue increased 1 percent (on a reported basis) to $941 million, and approximately 6 percent organically, “driven by strong performance in vision care and surgical segments.” The year-ago revenue total was $934 million. Foreign exchange had an unfavorable impact on revenues of $46 million in the second quarter, the company noted. In the vision care segment, revenue totaled $589 million in the second quarter, which compares with $556 million in the second quarter of 2021, an increase of $33 million, or 6 percent.

Excluding the unfavorable impact of foreign exchange of $29 million, the segment increased organically by approximately 11 percent compared with the second quarter of 2021, primarily due to higher sales of Lumify (brimonidine tartrate ophthalmic solution 0.025%), the Biotrue solutions franchise and Ocuvite + PreserVision, partially offset by decreased sales in the contact lens business in China (driven by COVID-19 lockdowns that continued into the second quarter of 2022), according to the company’s announcement.

“In the second quarter, Bausch + Lomb delivered strong results that demonstrate the advantages of our integrated eyecare platform, the durability of our leading brands and the ability of our teams to simultaneously execute on business performance and drive innovation,” Joseph C. Papa, chief executive officer, said in the company’s announcement. (Note, Papa recently announced his intention to step down as the company’s CEO once a successor is named.) Here you can read more.

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