THE MEDICI LIST

by Mike Gee

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Bausch & Lomb Corp

CIK: 18607421 Annual ReportLatest: 2026-02-18

10-K / February 18, 2026

Bausch + Lomb

Overview

Bausch + Lomb Corporation and its subsidiaries is a global eye health company focused on protecting and enhancing sight. The company’s mission is helping people see better to live better. It operates a fully integrated eye health business with a portfolio of about 400 products across three segments: Vision Care, Pharmaceuticals, and Surgical. Bausch + Lomb is a subsidiary of Bausch Health Companies Inc. (BHC); as of February 11, 2026, BHC directly or indirectly held about 88% of Bausch + Lomb’s common shares. Bausch + Lomb common shares began trading on the NYSE and TSX under the symbol BLCO on May 6, 2022.

Global footprint and scale

  • Employees: approximately 13,000 (as of December 31, 2025)
    • Production: ~7,000
    • Sales and marketing: ~4,200
    • General and administrative: ~900
    • R&D: ~900
  • Geographic distribution:
    • United States: ~4,900
    • Europe (excluding Ireland): ~3,400
    • Asia-Pacific: ~2,200
    • Ireland: ~1,500
    • Latin America: ~400
    • Russia/CIS: ~400
    • Canada: ~100
    • Middle East & Africa: ~100
  • Operates in about 100 countries.
  • Manufacturing and development: majority of products are manufactured at 25 facilities in 11 countries; some products are produced by third-party manufacturers.
  • R&D: more than 60 projects and roughly 900 R&D personnel across 13 facilities.

Revenue and segments (2025)

  • Total revenues: $5,101 million (about $5.1 billion)
  • Segment breakdown:
    • Vision Care: $2,923 million (57%)
    • Pharmaceuticals: $1,284 million (25%)
    • Surgical: $894 million (18%)

Major customers

  • In 2025 and 2024, two customers each accounted for 10% of total revenues:
    • McKesson Corporation — 10%
    • Cardinal Health, Inc. — 10%
  • In 2023, no individual customer accounted for 10% or more of total revenue.

Product and market focus by segment

Vision Care

  • Consumer eye care and contact lens businesses, including OTC products, nutritional supplements, ophthalmic pharmaceuticals, intraocular lenses (IOLs) and related devices, lens care products, and other consumer products.
  • Product lines and examples include PreserVision AREDS and AREDS 3, Ocuvite, Biotrue, Biotrue Hydration, Renu, Lumify, artelac, Blink, and a broad contact lens portfolio (SiHy Daily brands such as INFUSE, ULTRA ONE DAY, AQUALOX; ULTRA for Astigmatism and Presbyopia; PureVision; SofLens; Biotrue ONEday).

Pharmaceuticals

  • Proprietary and generic ophthalmic pharmaceuticals for postoperative care and treatment of conditions such as glaucoma, inflammation, ocular surface disease, and retinal diseases.
  • Key products include XIIDRA (lifitegrast) 5%, MIEBO (perfluorohexyloctane), XIPERE (suprachoroidal triamcinolone), Vyzulta, Lotemax, Besivance, Visudyne, Prolensa, Minims, Yellox, Zylet, and Alrex.

Surgical

  • Medical devices and instruments for cataract, corneal, vitreous, and retinal procedures, including IOLs, delivery systems, phacoemulsification equipment, and surgical instruments.
  • Major products include the Stellaris Elite vision enhancement system, Synergetics instruments, VICTUS femtosecond laser, Teneo Excimer Laser, and IOLs such as Akreos, enVista (including enVista Beyond), Envy trifocal, Aspire toric, Crystalens, and Trulign, as well as Storz instruments.

Research and development

  • Over 60 global R&D projects in the pipeline.
  • Approximately 900 dedicated R&D personnel across 13 facilities.
  • R&D activities include clinical trials and collaboration with external partners, with patient and physician input integrated into development.

Intellectual property and regulatory landscape

  • Patent portfolio and exclusivity position (as of February 11, 2026): about 2,499 granted patents worldwide, approximately 476 in the U.S.; around 83% of issued patents expire within 10 years; about 169 U.S. patent applications pending.
  • The company relies on patents, data exclusivity, trade secrets, and licenses; some products are licensed from third parties.
  • Subject to regulatory regimes in the U.S., Canada, EU, UK, and other jurisdictions for drugs and medical devices, with ongoing compliance requirements (cGMP, MDR, HIPAA, data privacy, etc.).

Governance and risk management

  • BHC controls a majority of Bausch + Lomb voting power; governance arrangements reflect the company’s separation from BHC.
  • In the U.S. and Canada, the company’s common shares are subject to related-party considerations tied to that separation.
  • Governance structures include a Materiality Committee, Disclosure Committee, and Audit Committee, with defined oversight for cybersecurity and risk management.

Summary

Bausch + Lomb is a diversified eye health company offering consumer eye care products, contact lenses, prescription pharmaceuticals, and surgical devices. The company combines global manufacturing, R&D, regulatory compliance, and distribution across three primary segments to serve ophthalmologists, eye care professionals, retailers, and patients worldwide. In 2025, revenue was about $5.1 billion and the company employed roughly 13,000 people. Major distributors in its customer base include McKesson and Cardinal Health.

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