Bausch + Lomb is looking to grow. It’s got the capital to do so and a motivated CEO at the helm.
The Vaughan, Ontario-based eyecare company continued its summer shopping spree with the recent acquisition of Johnson & Johnson’s Blink line of eye drops.
The deal is for $106 million, with Bausch + Lomb financing the deal with cash on hand.
Brent Saunders, in his second stint as company CEO, is focused on better utilizing the 170-year-old company’s existing infrastructure. He’s addressing this goal, in part, through mergers and acquisitions.
“We have a very broad commercial structure and supply chain touching almost every eye health professional in the world but not enough product quote to utilize it efficiently,” Saunders said, during a May earnings call.
With Johnson & Johnson looking to divest from its over-the-counter offerings to focus on developing and commercializing drugs and medical devices, a deal was in the best interest of both companies.
“While we will continue to advocate the importance of treating and relieving dry eye symptoms, we believe the Blink eye drops will be a mutually beneficial fit with Bausch + Lomb, as part of their dry eye portfolio,” J&J said in a statement.
The move to acquire the Blink lineup of six eye drops and contact lens drops came just days after Bausch + Lomb ponied up a whopping $2.5 billion to Novartis for the prescription dry eye drops XIIDRA and other ophthalmology products.
Read more about Bausch + Lomb’s Blink acquisition from the press release:
The strategic acquisition is the latest example of the company’s commitment to increasing over-the-counter (OTC) consumer convenience in eye care.
“There’s a growing need for relieving the symptoms of dry eyes and dry contact lenses, and OTC products are often the first option consumers choose,” said John Ferris, executive vice president, Consumer, Bausch + Lomb. “The addition of Blink expands our robust portfolio of OTC eye care brands, enabling us to provide more choices for consumers and eye care professionals.”
According to a 2022 Gallup Study, 57% of American adults report suffering from eye dryness, and of them, nearly half (48%) use OTC lubricant drops to obtain relief. The incidence is increasing, with a strong correlation between the amount of time spent on digital devices and reported dry eyes.1 In addition, contact lens discomfort and contact lens dryness impacts a third of the 45 million contact lens wearers in the United States.
About Blink® Eye Drops
The Blink portfolio of eye drops consists of a variety of eye drops and contact lens rewetting drops that provide immediate and long-lasting symptom relief. The products that are part of the acquisition include the following:
- Blink® Tears Lubricating Eye Drops;
- Blink® Tears Preservative Free Lubricating Eye Drops;
- Blink GelTears® Lubricating Eye Drops;
- Blink® Triple Care Lubricating Eye Drops;
- Blink Contacts® Lubricating Eye Drops; and
- Blink-N-Clean® Lens Drops.
More information about Blink eye drops can be found at www.justblink.com.
About Bausch + Lomb
Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from the moment of birth through every phase of life. Its comprehensive portfolio of more than 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and commercial footprint with approximately 13,000 employees and a presence in nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario with corporate offices in Bridgewater, New Jersey. For more information, visit www.bausch.com and connect with us on Twitter, LinkedIn, Facebook and Instagram.
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