Bausch + Lomb Corporation (Bausch + Lomb) reported total revenues of $4.791 billion for the fiscal year ended December 31, 2024, a 16% increase compared to $4.146 billion in 2023. This increase stemmed from a combination of factors: a $348 million rise in product sales volume across all segments, $293 million in incremental sales from acquisitions (primarily in the Pharmaceuticals segment), and a $81 million increase in net realized pricing, mainly driven by the Vision Care segment. Offsetting these gains were a $69 million negative impact from foreign currency exchange rates and an $8 million impact from divestitures and product discontinuations.
The company's three reportable segments—Vision Care, Pharmaceuticals, and Surgical—contributed differently to the overall revenue growth. Vision Care revenue increased by 8% to $2.739 billion, Pharmaceuticals revenue surged by 45% to $1.209 billion, and Surgical revenue rose by 10% to $843 million. The significant increase in Pharmaceuticals revenue was largely due to the acquisition of XIIDRA® and the launch of MIEBO®. Constant currency revenue growth, a non-GAAP measure, showed a 17% increase to $4.860 billion, excluding the impact of foreign currency fluctuations.
Significant strategic developments during the period included several acquisitions. In 2024, Bausch + Lomb acquired Trukera Medical, Elios Vision, and Whitecap Biosciences, expanding its presence in dry eye diagnostics, minimally invasive glaucoma surgery, and clinical-stage therapies, respectively. In 2023, the company acquired XIIDRA® and the Blink® product line, strengthening its dry eye and over-the-counter portfolios. Other acquisitions in 2022 included Paragon BioTeck, AcuFocus, and Total Titanium, further diversifying its product offerings and manufacturing capabilities. The company also entered into several licensing agreements, including an exclusive European distribution agreement for Sanoculis' MIMS® minimally invasive glaucoma surgery procedure.
Operational highlights included the successful launch of BlinkTM NutriTears® in June 2024, expanding its dry eye portfolio, and the launch of Lumify® Preservative Free in the first quarter of 2025. The company employed approximately 13,500 employees as of December 31, 2024, with a global commercial team of approximately 4,300. The company's Days Away Rate (DAR), a measure of employee health and safety, was 4.9 in 2024, meeting its annual goal. The company also noted that its 2024 employee engagement survey showed statistically significant improvements in efficiency and overall engagement scores compared to 2022. The company's net loss attributable to Bausch + Lomb Corporation was $317 million for 2024, a decrease of $57 million compared to 2023, primarily due to increased interest expense. The company does not anticipate paying dividends in the foreseeable future. The company's outlook and forward-looking statements are subject to various risks and uncertainties, including macroeconomic factors, competition, and regulatory changes, as detailed in the filing.
About Bausch & Lomb Corp
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