Bausch + Lomb (BLCO) investor relations material

Strategic progress and operational focus

• Achieved approximately 24% top-line growth since 2023, driven by selling excellence, operational improvements, and robust product launches.

• Stabilized supply chain and addressed post-pandemic disruptions, notably resolving a major surgical recall faster than expected.

• Emphasized a culture of accountability and grit, reducing bureaucracy and fostering resilience during challenges.

• Built a strong innovation pipeline, with a deep dive planned for Investor Day on November 13th.

• Focused on comprehensive eye care, integrating pharma, consumer, and surgical businesses for synergistic growth.

Financial performance and capital allocation

• Financial results reflect significant commercial excellence and asset optimization, with a shift toward margin expansion in the next phase.

• Capital allocation is guided by ROI, supporting high-growth areas like daily contact lenses and dry eye solutions.

• Disciplined approach to M&A, prioritizing strategic fit and intellectual property, with no urgent need for large acquisitions.

• Vision 27 initiative aims to set long-term financial metrics, focusing on margin improvement and sustainable growth.

Market trends and product highlights

• Consumer demand remains strong, though retailers have reduced inventory, causing a temporary disconnect between consumption and sales.

• Miebo eye drop launch exceeded expectations, with continued growth and a transition from launch to profitability expected by 2027–2028.

• OTC brands like Lumify and Blink are performing well, with innovative DTC and AI-driven marketing strategies boosting sales.

• Contact lens segment is the fastest growing in the space, with new and legacy products both contributing to growth.

• Biomimetic contact lens material entering clinical trials, with potential for breakthrough impact and scalable production.