Bausch + Lomb, a global eye care company, is expanding its over-the-counter presence by acquiring Johnson & Johnson’s Blink line of eye drops for $106.5 million. The acquisition includes the Blink product line, which consists of six eye drops and contact lens drops for rewetting and lubricating the eye. Bausch + Lomb will finance the purchase with its cash reserves.
Johnson & Johnson’s decision to divest the Blink eye drops is part of its strategy to exit the consumer products business. The company recently placed its consumer products assets in a subsidiary called Kenvue, which raised $3.8 billion in an IPO in May. While Johnson & Johnson is still the majority shareholder of Kenvue, it will now focus on developing and commercializing drugs and medical devices. As the Blink eye drops do not align with this new strategy, Johnson & Johnson sought a new home for them.
Blink eye drops are one of many over-the-counter products available for individuals suffering from dry eye disease. When these products are ineffective, patients often turn to prescription products for relief. Bausch + Lomb has recently introduced two prescription eye drops for dry eye disease. In May, the FDA approved Meibo, an eye drop that reduces tear film evaporation. Last week, Bausch + Lomb entered into a $1.75 billion deal with Novartis that included the acquisition of Xiidra, a prescription product that reduces inflammation in the eye.
John Ferris, the executive vice president of Bausch + Lomb’s consumer division, highlighted the growing demand for products that relieve dry eyes and dry contact lenses. Over-the-counter products are often the first choice for consumers seeking relief. The acquisition of the Blink product line expands Bausch + Lomb’s portfolio, providing more choices for consumers and eye care professionals.
The Vision Care business segment of Bausch + Lomb, which includes consumer eye care and contact lens products, generated $2.3 billion in revenue in 2022, a 63% increase compared to the previous year. The segment’s revenue is divided, with 63% coming from consumer eye care and 37% from the contact lens business.
By acquiring the Blink eye drops, Bausch + Lomb aims to strengthen its position in the over-the-counter eye care market. With its recent focus on prescription products, this acquisition allows Bausch + Lomb to offer a broader range of options for individuals seeking relief from dry eyes and dry contact lenses.
