Bausch and Lomb CEO Brent Saunders Rules Out Contact Lens Maker Sale in 2025
Bausch and Lomb (BLCO) CEO Brent Saunders has confirmed that the company will not pursue the sale of its contact lens division in 2025.
Deal History and Reasons for Withdrawal
Over the past decades, Saunders has orchestrated several multi-billion-dollar healthcare deals. However, he emphasized that Bausch and Lomb's current focus is on executing its ambitious plans for 2025 and beyond.
Initial plans to explore privatization had stalled due to insufficient valuation offers from potential buyers. Saunders believes the company's strong product pipeline, including innovations in contact lenses and dry eye treatments, was undervalued.
Fourth Quarter Performance and Future Outlook
Bausch and Lomb's recent financial results demonstrate the underlying strength of the business. Fourth-quarter sales grew 9% to $1.28 billion, exceeding analyst expectations. Vision care, led by strong contact lens sales, was a key driver of growth.
For the full year, the company projects sales between $4.95 billion and $5.05 billion, marginally below Street estimates. Saunders highlighted the expected breakthrough in contact lens technology with the launch of a biomimetic lens in 2027.
CEO Perspective and Market Outlook
Saunders remains confident in Bausch and Lomb's ability to drive a higher valuation in the future. He believes the company's focus on innovation and operational excellence will create significant value for shareholders.
The company remains on track to fully separate from Bausch Health Companies, with Bausch Health Companies currently holding 88.4% ownership. Hedge fund titan John Paulson and Carl Icahn's son, Brett, are current members of Bausch and Lomb's board of directors.