Key takeaways
- Bausch + Lomb purchased the Blink brands from Johnson & Johnson subsidiary.
- Bausch + Lomb paid $106.5 million for the Blink line, using cash.
- The move expands the company's over-the-counter dry eye treatment portfolio.
Bausch + Lomb Corporation (BLCO) has decided to expand its over-the-counter (OTC) eye treatments by purchasing Blink brand eye drops and contact lenses from Johnson & Johnson (JNJ) Johnson & Johnson Vision.
Bausch + Lomb said he paid $106.5 million for Blink, using cash on hand.
John Ferris, Executive Vice President of Bausch + Lomb's consumer division reported that there is a growing need for products to relieve the symptoms of dry eye and dry contact lenses, and that “over-the-counter products are often the first option consumers choose. “.
The company pointed to a 2022 survey that showed more than half (57%) of American adults suffer from dry eye and nearly half (48%) use over-the-counter remedies. What's more, research found the problem was increasing, with a strong correlation between time spent on digital devices and reports of dry eye cases.
Added the six types of drops from Blink “expands our strong portfolio of over-the-counter eye care brands,” Ferris said.
Bausch + Shares of Lomb were down 0.86% today but are up for the year.
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Source: investopedia.com
