Bausch + Lomb (US:BLCO)2025-11-13 14:30Summary of Bausch + Lomb Investor Day Company Overview - Company: Bausch + Lomb (NYSE: BLCO) - Event: 2025 Investor Day held on November 13, 2025 Key Industry Insights - Market Growth: The eye care market is durable and growing at mid-single digits, with Bausch + Lomb expecting a compound annual growth rate (CAGR) of 5%-7% through 2028 [19][22] - Consumer Trends: Increasing consumer interest in self-care, an aging population, and a rise in eye conditions, particularly dry eye, are driving market growth [51] Core Company Strategies - Financial Excellence: Emphasis on driving execution, controlling costs, and expanding margins to create sustainable value through 2028 and beyond [16][17] - Innovation Focus: A robust pipeline of breakthrough products is expected to deliver significant value beyond 2028, with over 60 active programs in various stages of development [18][34] Financial Targets - Revenue Growth: Expected above-market revenue growth with a target of 5%-7% CAGR through 2028 [19][22] - Margin Expansion: Targeting an adjusted EBITDA margin of 23% by 2028, reflecting a 600 basis points improvement from 2025 guidance [20][21] - Cash Flow Generation: Anticipating cash flow conversion to exceed 50% by 2028, with strong progress already noted in Q3 results [20][28] Product Portfolio Highlights - Consumer Business: Strong performance with a 5%-7% CAGR expected, driven by brands like PreserVision, Lumify, and Blink [23][51] - Pharmaceutical Leadership: Market leader in dry eye disease with brands Mibo and Xiidra, focusing on innovative treatments [24] - Surgical Innovations: Premium IOL portfolio and new product launches are driving growth in the surgical segment [24] Key Product Innovations - PreserVision AREDS3: A new formulation targeting all stages of age-related macular degeneration (AMD), expected to launch in 2026 [54][55] - Lumify Lux: A new version of the popular redness reliever incorporating hyaluronic acid for enhanced user experience [60][61] - Blink Triple Care: An advanced OTC dry eye drop formulation combining hyaluronic acid with nano-emulsion lipids for long-lasting hydration [64] R&D and Innovation - R&D Transformation: Significant restructuring to enhance capabilities, focusing on groundbreaking innovations and faster market delivery [33][34] - Pipeline Potential: Aiming for peak sales of $7 billion from the current pipeline, with a focus on disruptive innovations rather than incremental improvements [30][31] Market Position and Competitive Advantage - Leadership in Consumer Eye Health: Bausch + Lomb is the number one global consumer eye health company, outperforming peers in growth [51][52] - Brand Trust: Strong consumer trust in brands like PreserVision, Lumify, and Biotrue, which are highly recommended by eye care professionals [52] Conclusion - Bausch + Lomb is positioned for significant growth through innovative product development, strong financial management, and a commitment to improving eye health standards. The company is confident in its ability to deliver above-market growth and expand profitability through disciplined execution and strategic investments in R&D.