Bausch + Lomb Corp Dossier
Qualitative Analysis
Business overview
Bausch & Lomb Corporation (NYSE/TSX: BLCO) is a leading global eye health company dedicated to protecting and enhancing the gift of sight. Founded in 1853, the company has built a comprehensive portfolio of more than 400 products spanning contact lenses, lens care products, ophthalmic pharmaceuticals, over-the-counter (OTC) eye care products, and ophthalmic surgical devices and instruments. Bausch & Lomb operates across three primary segments: Vision Care (which includes contact lenses and consumer eye care), Surgical (comprising intraocular lenses and surgical equipment), and Pharmaceuticals (focusing on proprietary ophthalmic prescription drugs). The company maintains a significant global footprint with approximately 13,000 employees and a commercial presence in nearly 100 countries, with its principal executive offices located in Vaughan, Ontario, Canada.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
A comprehensive operational excellence program designed to shift product mix toward higher-margin offerings, improve pricing discipline, drive productivity across the organization, and establish a more fixed-cost infrastructure.
Expected impact: Aims to drive meaningful operating leverage and margin expansion, targeting an adjusted EBITDA margin of approximately 23% by 2028.
An aggressive, company-wide initiative to drive AI literacy and integrate artificial intelligence tools across business operations to streamline internal processes and accelerate product development.
Expected impact: Aims to achieve bottom-up efficiencies, reduce SG&A expenses, and improve overall operating margins.
Decarbonization and circularity initiatives focusing on product and packaging design, including delivering Biotrue ONEday contact lenses with 50% lighter weight plastic, transitioning to electronic Instructions for Use, and expanding renewable energy use.
Expected impact: Avoided approximately 25 tons of paper waste since 2023, reduced compressed air power demand by 10% at the Rochester site, and advanced onsite solar installations.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
To bolster Bausch + Lomb's clinical-stage pipeline in glaucoma and geographic atrophy (GA). The acquisition includes WB007, a highly potent alpha-2 adrenergic agonist that successfully completed Phase 2 clinical trials for glaucoma.
Financial impact: Undisclosed transaction value; strengthens long-term R&D pipeline value.
Acquisition of the developer of the ELIOS procedure, the first clinically validated, minimally invasive glaucoma surgery (MIGS) procedure using an excimer laser, to enhance glaucoma treatment capabilities.
Financial impact: Undisclosed transaction value; expands surgical segment offerings.
Strategic Partnerships
A strategic collaboration focused on leveraging City Therapeutics' next-generation RNAi engineering technologies to develop a novel RNAi clinical candidate for retinal diseases, specifically geographic atrophy (GA).
Terms: City Therapeutics received an upfront cash payment and is eligible to receive contingent milestone payments of up to $485 million tied to development, regulatory, commercial, and sales milestones, plus tiered royalties. Bausch + Lomb also received a convertible note representing a minority equity interest.