Consumer Products Drive B+L Sales As Spinout Expenses, Increasing Costs Drag Results
Consumer health products account for majority of vision care sales during Q4 and all 2022, with launch of Lumify eye drops in Canada a key driver. “While consumers have faced pressure from higher inflation and potential economic uncertainty, we have not seen broad, fundamental changes in the segment,” says CFO Sam Eldessouky.
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For all B+L has going for it, including consumer health eye health and vision care products as its sales driver, it could be stymied by investors alleging Bausch Health conducted fraudulent conveyance by spinning out B+L through an IPO in 2022.
Saunders will oversee the consumer health, pharma and medtech eye health and vision care specialist, returning to where he got his start as a chief executive before earning a reputation as one of industry’s biggest dealmakers.
Lumify sales grew reported 21% to brand-record $35m in Q2, Bausch + Lomb’s first quarter since separating from Bausch Health through an IPO in May.