B&L lens solution troubles
This article was originally published in The Gray Sheet
Executive Summary
Preliminary 2006 year-end results released March 6 show Bausch & Lomb's sales declined 3% to $2.29 billion in 2006 primarily because lens care sales were down 21% for the year to $414.2 million. The firm estimates its share of the U.S. multipurpose solutions market dropped from 30% in 2005 to 18% at the end of 2006 because of a recall of ReNu with MoistureLoc (1"The Gray Sheet" Nov. 13, 2006, p. 18). Bausch & Lomb expects to officially file its 2006 report by April 30. Also March 6, Bausch & Lomb voluntarily recalled 12 lots of ReNuMultiPlus lens care solution, citing an elevated level of trace iron that may indicate a shortened shelf life for the product. The firm does not expect the latest recall to have a significant financial impact...