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A Performance Overview of Bausch + Lomb

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Revenue trends

Bausch + Lomb, an international subsidiary of Bausch Health Companies (BHC), generated revenue of $1.21 billion in the second quarter compared to $1.22 billion in the second quarter of 2017, reflecting a ~1% YoY (year-over-year) fall. However, Bausch + Lomb witnessed ~4% YoY organic growth in the second quarter.

Bausch + Lomb reported net revenue of $2.3 billion in the first half of 2018 compared to net revenue of $2.4 billion in the first half of 2017.

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Bausch + Lomb’s revenue trends

Bausch + Lomb’s vision care business generated revenue of $207.0 million in the second quarter compared to $187.0 million in the second quarter of 2017, reflecting ~11% YoY growth.

Bausch + Lomb’s surgical business generated revenue of $182.0 million in the second quarter compared to $175.0 million in the second quarter of 2017, reflecting ~4% YoY growth.

In the second quarter, Bausch + Lomb’s consumer and Ophtho Rx segments generated revenues of $369.0 million and $178.0 million, respectively, compared to $379 million and $167.0 million, respectively, in the second quarter of 2017, reflecting a ~3% fall and a 7% rise, respectively, on a YoY basis.

Bausch + Lomb’s international Rx (prescription drugs) business reported revenue of $273.0 million in the second quarter compared to $315 million in the second quarter of 2017, reflecting a ~13% YoY fall.

Operational expenses and margin

Bausch + Lomb reported a gross profit and a gross margin of $742 million and 61%, respectively, in the second quarter compared to $756 million and ~62%, respectively, in the same period of the previous year.

In the second quarter, Bausch + Lomb reported SA&P (selling, advertisement, and promotional), G&A (general and administrative), and R&D (research and development) expenses of $328 million, $48 million, and $16 million, respectively, compared to $315 million, $50 million, and $20 million, respectively, in the second quarter of 2017, reflecting a ~4% fall, a ~4% rise, and a ~20% rise YoY.

In the second quarter, Bausch + Lomb reported non-GAAP (generally accepted accounting principles) EBITA and non-GAAP EBITA margins of $350 million and 29%, respectively, compared to $371 million and 30%, respectively, in the second quarter of 2017.

Bausch + Lomb’s vision care peer Alcon, a subsidiary of Novartis (NVS), reported revenue of $1.8 billion in the second quarter. Johnson & Johnson’s (JNJ) vision care business reported revenue of $1.2 billion in the quarter.

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