Bausch + Lomb (BLCO) 43rd Annual J.P. Morgan Healthcare Conference 2025 summary

Strategic transformation and market positioning

• Reinvented operations and product offerings, achieving consistent global revenue growth and market leadership in eye health, especially dry eye.

• Growth is diversified across all segments and geographies, reducing exposure to regional risks.

• Roadmap focuses on operational excellence, innovation, and steady execution, with 2024 being a record year for product launches.

• The company is executing a multi-phase roadmap to accelerate growth, focusing on revenue growth at or above market, operational excellence, and innovation in high unmet need areas.

• Key priorities for 2025 and beyond include driving selling and product launch excellence, building innovation, enhancing supply chain agility, and disciplined capital allocation.

Product innovation and pipeline development

• Dry eye portfolio, including Miebo and Xiidra, is nearing $1 billion in revenue, supported by DTC campaigns and a unified sales force.

• Vision care leads in yearly lens growth, driven by Daily SiHy lenses and digital investments like Opal in the U.S. and China DTC programs.

• New launches include preservative-free Lumify, next-gen Lumify Luxe, and premium IOLs such as enVista Envy.

• Bausch + Lomb is advancing a robust R&D pipeline with ~60 active projects, including next-generation contact lenses, premium IOLs, and novel therapeutics for dry eye, glaucoma, and AMD.

• Bausch + Lomb is expanding its dry eye leadership, with a portfolio generating $867M in LTM revenue and strong prescription growth for Miebo and Xiidra.

M&A, partnerships, and R&D focus

• Recent acquisitions (Elios, City Therapeutics, WideCap) target innovation in glaucoma, retina, and dry eye, with most revenue impact expected post-2025.

• Internal and external R&D efforts focus on first-in-class therapies for dry eye, ocular pain, glaucoma, and AMD.

• M&A supplements pharma and surgical segments, while consumer and vision care are developed internally.

• R&D investment expected to rise from 7% to 8% of revenue as pipeline advances.

• Strategic focus includes building a leading business development platform, optimizing the supply chain, and investing in R&D for sustainable long-term growth.