Bausch & Lomb

What Bausch & Lomb does

Bausch + Lomb is a 170+ year old, publicly traded (NYSE/TSX: BLCO) eye health company operating across four segments — Pharmaceuticals, Vision Care (contact lenses and lens care), Surgical, and Over-the-Counter eye care and supplements. Founded in 1853 and spun off from Bausch Health Companies in 2022 (Bausch Health retains ~88% ownership), the company serves eye care professionals (ophthalmologists, optometrists), hospitals and surgical centers, and end-consumers across more than 50 countries through dual channels: a professional field sales force for prescription and surgical products, and major retail distribution (Amazon, CVS, Target, Walgreens, Walmart) for OTC brands. Its flagship prescription assets include MIEBO (perfluorohexyloctane, the first FDA-approved dry eye drug to target tear evaporation) and XIIDRA (lifitegrast), alongside VYZULTA in glaucoma; OTC brands include LUMIFY for eye redness and PreserVision AREDS3 for AMD risk reduction.

The company generates revenue primarily through one-time hardware/OTC sales (contact lenses, lens care, surgical devices, OTC eye drops and vitamins) and prescription pharmaceutical sales through professional channels, with a smaller licensing and co-development stream (City Therapeutics RNAi deal up to $485M). The contact lens portfolio spans daily disposables (INFUSE with ProBalance Technology, Biotrue ONEday, SiHy dailies) and specialty/gas permeable lenses (Zenlens, NovaKone); the surgical portfolio includes enVista Envy preloaded IOLs, the Bi-Blade+ dual-port vitrectomy cutter (25% higher flow, 62% lower vibration), the Stellaris Elite platform, and the ELIOS excimer laser for glaucoma. Forward-looking R&D includes the Project Halo bioactive contact lens (first new contact lens material in 25+ years, 2028 target) and a myopia-control silicone hydrogel daily lens.

Operating geographies span North America, South America, Europe (full EU footprint plus UK), Asia Pacific (China, Japan, Korea, India, Australia, SE Asia), and the Middle East. FY2025 revenue was $5.101B (+6% YoY) with FY2026 guidance of $5.42-5.52B, and Q1 2026 revenue grew 9.4% YoY to $1.244B led by Pharmaceuticals (+12%, MIEBO +33%, XIIDRA +30%). The company completed a $2.8B Term B refinancing in January 2026 extending maturities to 2031 and has executed major acquisitions including XIIDRA from Novartis ($2.5B, 2023), AcuFocus (IOLs, 2023), Blink from J&J Vision ($106.5M, 2023), Whitecap Biosciences (2025), and ELIOS (2024).

Name

Bausch & Lomb

Legal name

Bausch + Lomb Corporation

Website

https://bausch.com

Company type

Public

Founded year

1853

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Bausch + Lomb is a publicly traded (NYSE: BLCO), 170+ year old eye health company serving eye care professionals, hospitals, and consumers in 50+ countries with prescription pharmaceuticals (MIEBO, XIIDRA), contact lenses, surgical devices (IOLs, vitrectomy systems), and OTC eye care brands (LUMIFY, PreserVision).

Ownership category

akta.pro rank

Product category

Ophthalmic Pharmaceuticals and Devices

NAICS

Ophthalmic Goods Manufacturing (339115), Pharmaceutical Preparation Manufacturing (325412)

SIC

Ophthalmic Goods (3851)

akta.pro primary industry

Ophthalmology Specialty Pharmaceuticals (HLAIACAK)

akta.pro secondary industries

Eye, Ear & Nasal Care OTC (Eye Drops, Ear Drops/Wax Removal, Saline Sprays) (CRADAMAG), Eye, Ear & Nasal Care (HLAIADAF)

Keywords

• Ophthalmic pharmaceuticals
• Contact lens products
• Intraocular lens implants
• Eye surgery devices
• Dry eye treatments

Headquarters

HQ city

Bridgewater

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. Pharmaceuticals: Prescription ophthalmic drugs including MIEBO (dry eye), XIIDRA (dry eye), VYZULTA (glaucoma), post-cataract surgery anti-inflammatories, retinal drugs, anti-infectives, and generics. Sold through eye care professionals and pharmacies. Q1 2026 Pharmaceuticals revenue of $305 million (+12%), driven by MIEBO (+33%) and XIIDRA (+30%).
2. Vision Care (Contact Lenses and Lens Care): Daily disposable and monthly contact lenses (INFUSE, Biotrue ONEday, silicone hydrogel dailies), specialty/gas permeable lenses, and lens care solutions. Sold through eye care professionals and retail channels. Vision Care segment drove revenue growth with Lumify and SiHy Daily lenses. One of the top contact lens manufacturers globally alongside Alcon, CooperVision, and J&J.
3. Consumer OTC Eye Care and Supplements: Over-the-counter eye drops (Blink Triple Care Preservative Free, LUMIFY), eye vitamins (PreserVision AREDS3), eye allergy relief, lens rewetting drops, and eye wash products. Sold through major retail chains and e-commerce platforms. Emerging growth driven by rising dry eye incidence from screen time and environmental factors.
4. Surgical (Intraocular Lenses and Surgical Devices): Surgical products including intraocular lenses (enVista Envy, Zenlens, NovaKone), vitrectomy systems (Stellaris Elite with Bi-Blade+ cutter), and surgical accessories. Sold to hospitals and eye surgery centers. The Surgical segment showed strong recovery to 82% of pre-recall Q1 sales levels following the enVista recall.
5. Licensing and Co-development (RNAi and Technology Partnerships): Bausch + Lomb enters strategic co-development and licensing agreements in ophthalmology. Partnerships include up to $485M with City Therapeutics for retinal RNAi therapeutics and approximately $1B with Biogen for a CNS disease program. Also participates in early-stage strategic financing rounds (e.g., Emmecell) as a financial and strategic investor.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Bausch + Lomb is a global eye health company that develops, manufactures, and commercializes prescription ophthalmic pharmaceuticals (dry eye, glaucoma, retinal, post-surgical), contact lenses and lens care solutions, intraocular lenses and surgical devices, and over-the-counter eye care products and supplements. The company sells through a dual B2B/B2C model — professional channels for prescription drugs and surgical devices, and retail/DTC channels for OTC products — across more than 50 countries.

Product overview

Bausch + Lomb operates as a diversified eye health company with a comprehensive portfolio spanning four major segments: Vision Care (contact lenses and lens care products), Pharmaceuticals (prescription eye medications for glaucoma, dry eye, infections, allergies, and retinal conditions), Surgical (intraocular lenses, vitrectomy devices, and glaucoma treatment systems), and Over-the-Counter Eye Care (artificial tears, redness relief, allergy relief, and eye vitamins). The product portfolio includes flagship prescription drugs MIEBO and XIIDRA for dry eye disease, VYZULTA for glaucoma, contact lens brands like INFUSE and Biotrue ONEday, specialty lenses such as Zenlens and NovaKone, surgical devices including the Bi-Blade+ vitrectomy cutter and enVista Envy IOL, over-the-counter products like LUMIFY for redness relief and PreserVision AREDS3 eye vitamins, and the recently acquired Blink preservative-free eye drops. The company serves eye care professionals, patients, and consumers across global markets through extensive retail distribution.

Differentiator

Problem solved

Functional benefit

Brands

• PreserVision: Eye vitamin supplements for age-related macular degeneration (AMD) support, including PreserVision AREDS3 formula
• LUMIFY
• MIEBO
• Blink Triple Care
• INFUSE
• enVista Envy
• Xiidra

Products and services

• LUMIFY Over-the-counter eye redness relief drop containing brimonidine tartrate 0.025% that uses a highly selective α2-adrenergic mechanism with no tachyphylaxis over 29 days and virtually no rebound redness; sold directly to consumers through retail channels.
• MIEBO Prescription eye drop containing perfluorohexyloctane for treatment of dry eye disease — the first treatment to directly target tear evaporation, with statistically significant results in over 1,200 patients; prescribed by ophthalmologists and optometrists.
• XIIDRA Prescription ophthalmic solution (lifitegrast 5%) for treatment of dry eye disease, acquired from Novartis.
• VYZULTA

Quantifiable outcome

• MIEBO (perfluorohexyloctane) demonstrated statistically significant improvements in signs and symptoms of dry eye disease in clinical studies involving more than 1,200 patients.
• +5 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Six partnerships are on record, tiered core.

• City TherapeuticscoreStrategic or Co-development Partner · 1 January 2024City Therapeutics partnered with Bausch + Lomb for a retinal disease treatment worth up to $485 million. City Therapeutics is a biotech founded by former Alnylam CEO John Maraganore, headquartered in Cambridge, MA, with approximately 65 employees. The company launched in 2024 with $135 million Series A financing led by Arch Venture Partners and is developing next-generation RNAi drugs using novel cityRNA technology. Bausch + Lomb's partnership is one of two major co-development deals City has signed, the other being up to approximately $1 billion with Biogen for a CNS disease program.
• BiogencoreStrategic or Co-development Partner · 1 January 2024Biogen partnered with City Therapeutics (in which Bausch + Lomb also holds a strategic partnership) for a CNS disease program worth up to approximately $1 billion. Bausch + Lomb's interest stems from its co-development relationship with City Therapeutics for retinal disease RNAi therapeutics, and the Biogen partnership signals validation of City Therapeutics' technology platform.
• Johnson & Johnson VisioncoreStrategic or Co-development Partner · 6 July 2023Bausch + Lomb acquired the Blink eye drops product line from Johnson & Johnson Vision for $106.5 million in cash. This strategic acquisition expanded B+L's over-the-counter eye care portfolio, specifically targeting the rising incidence of dry eyes and contact lens discomfort. The deal is part of B+L's strategy to strengthen its OTC positioning in the broader eye care market.
• Novartis AGcoreStrategic or Co-development Partner · 30 June 2023Bausch + Lomb acquired XIIDRA (lifitegrast ophthalmic solution) from Novartis for up to $2.5 billion in cash, the largest acquisition in B+L's history. XIIDRA is a prescription dry eye drug that significantly expanded B+L's pharmaceutical dry eye franchise. The deal included the existing drug, investigational compounds, and related technology, with closing expected by end of 2023. This acquisition positioned B+L as a stronger competitor against Allergan (Restasis) and other dry eye treatments.
• AcuFocuscoreStrategic or Co-development Partner · 25 January 2023Bausch + Lomb acquired AcuFocus to expand its portfolio of intraocular lenses for cataract patients. The acquisition aligns with B+L's focus on addressing global blindness caused by cataracts, which affects over 15 million adults aged 50 and older. The deal is part of B+L's broader strategy to introduce advanced lenses including extended-range and trifocal types, strengthening its surgical IOL portfolio.
• TerraCyclecoreStrategic or Co-development Partner · 1 January 2019Bausch + Lomb's ONE by ONE Recycling Program, developed in partnership with TerraCycle, has collected and recycled approximately 724,922 pounds (119.7 million units) of used contact lenses, eye care and lens care materials in the United States since its launch. A similar Canadian program called Every Contact Counts has collected over 78,269 pounds since 2019. TerraCycle handles the recycling of small plastic materials typically not accepted by municipal recycling facilities, preventing environmental pollution from discarded eye care products. The program also donates $1 per pound to Optometry Giving Sight for qualifying shipments.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Alcon: Alcon is the largest pure-play ophthalmology company globally, with direct overlap in contact lenses (DAILIES, Air Optix), surgical IOLs (PanOptix, Vivity), and ophthalmic pharmaceuticals. B+L and Alcon compete head-to-head across virtually every segment of the eye health portfolio.
• CooperVision: CooperVision is one of the top four global contact lens manufacturers alongside B+L, Alcon, and J&J Vision, with strong positions in daily disposable (MyDay), toric, and the MiSight myopia control lens — directly competing with B+L's INFUSE and Biotrue ONEday portfolio.
• Johnson & Johnson Vision: J&J Vision competes directly with B+L in contact lenses (Acuvue family) and previously sold the Blink product line to B+L for $106.5M. Direct competitor in daily disposable and toric contact lens segments globally.
• Carl Zeiss Meditec: Carl Zeiss Meditec is a leading surgical ophthalmology competitor, with strong positions in premium IOLs, surgical microscopes, and laser systems. Directly competes with B+L's enVista IOL platform, Stellaris Elite vitrectomy system, and Bi-Blade+ cutter in cataract and vitreoretinal surgery.

Broad incumbents

• AbbVie (Allergan Aesthetics): AbbVie owns the Restasis franchise, the dominant prescription dry eye treatment that MIEBO and XIIDRA directly compete against. AbbVie is a much larger diversified pharma incumbent whose ophthalmology unit competes in dry eye but is not its primary focus.

Emerging players

• STAAR Surgical: STAAR Surgical is a focused IOL manufacturer specializing in Implantable Collamer Lenses (ICL) for refractive vision correction and premium IOLs for cataract surgery. Smaller and more specialized than B+L but directly competes in the premium surgical IOL space.
• Glaukos Corporation: Glaukos pioneered Micro-Invasive Glaucoma Surgery (MIGS) with its iStent devices, directly competing with B+L's ELIOS excimer laser MIGS system expected FDA approval H2 2026. Both companies target the same glaucoma interventional treatment segment.
• Ocular Therapeutix: Ocular Therapeutix is a clinical-stage ophthalmic biopharmaceutical company developing sustained-release therapies (Dextenza for post-surgical inflammation and pain). Smaller emerging player that competes in the post-cataract surgery inflammation segment alongside B+L's PROLENSA.

Regional players

• Santen Pharmaceutical: Santen is a leading Japanese ophthalmology pharmaceutical company with strong Asia-Pacific presence in prescription eye drops for glaucoma, dry eye, and inflammation. Regional competitor with comparable prescription ophthalmic pharma portfolio but limited US OTC and surgical exposure.

Others

• Apotex / Teva / Sandoz (Generic Ophthalmics): Generic pharmaceutical manufacturers (Teva, Sandoz, Apotex) compete in the ophthalmic generics space that B+L participates in, particularly for older molecules like latanoprost. They are not direct competitors to B+L's branded franchises but exert pricing pressure on portfolio maturity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Subsidiaries4 records

Funding overview

Funding rounds4 records

Investors1 record

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M&A8 records

Investments6 records

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Frequently asked questions about Bausch & Lomb