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Bausch + Lomb — Presentation (company IR deck)
Bausch + Lomb (BLCO) · 21 slides · Filed Oct 29, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All BLCO deck slides
Slide 1 — MYOPIA CONTROL
PROJECT HALO FIRST-OF-ITS-KIND BIOACTIVE CONTACT LENS MATERIAL MYOPIA CONTROL CUTTING-EDGE SIHY LENS TO SLOW PROGRESSION OF MYOPIA
Slide 2 — Disclaimers
2 2 Forward-Looking Statements This presentation contains forward-looking information and statements, within the meaning of applicable securities laws (collectively, “forward-looking statements”), including, but not limited to, statements regarding the anticipated success of our pipeline products and R&D programs, our ability to be the best in class or first product to market of its kind, the expectations that our pipeline products will drive revenue growth and margin expansion, anticipated approval and launch dates for our pipeline products, our estimates for potential peak sales for our pipeline products, the expected benefits of our pipeline products, the anticipated results of the development activities for our pipeline products, the expected market acceptance and performance for certain of our pipeline products, the expected market size for certain of the markets in which we expect to have products, and the timing of commencement and completion of clinical studies and other development work. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects,“ “predicts,” “projects,” “goals,” "intends," "plans," "should," "could," "would," "may,“ “might” "will,“ “strive,” "believes," "estimates," "potential," "target," “commit,” “forecast,” “outlook,” “guidance,” “tracking,” or "continue" and positive and negative variations or similar expressions, and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken or will occur or result, and similar such expressions also identify forward-looking information. These forward-looking statements are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs, and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch + Lomb’s filings with the U.S. Securities and Exchange Commission (“SEC”) and the Canadian Securities Administrators (the “CSA”) (including the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (which was filed with the SEC and CSA on February 18, 2026) and its most recent quarterly filings), which factors are incorporated herein by reference. They also include risks relating to the development of our pipeline products, including the risk that our studies may not produce successful or anticipated results or demonstrate safety and efficacy in humans, risks that our pre-clinical and clinical trials may be delayed (which, in turn, may delay the launch of these products) and risks that the regulatory approval of our products may be lengthy, costly and, ultimately, not successful. They also include risks relating to the launch and commercialization of our products, including risks relating to the costs, required resources and unpredictability of commercial launches, risks that our products may not achieve the anticipated levels of market acceptance, which can result from a number of factors, many of which are outside of our control, risks that our products may experience negative publicity or reputational harm, competitive risks, such as our competitors beating us to market or developing new or better technologies and risks that we may face supply interruptions with our finished products or components thereof, which, in turn, may impact our ability to successfully launch or commercialize our products. They also include the expected impact of the tariffs imposed by the U.S. and counter-tariffs or other retaliatory measures imposed on the U.S. by other countries and disruptions to global supply chains and other potential results as a result of these developments and our ability to successfully manage the expected impact of such tariffs and counter-tariffs and other measures, including the success of our planned actions and levers to manage these matters, as well as the impact of potential tariff refunds or recoveries, if any. Finally, they also include, but are not limited to, risks and uncertainties caused by or relating to a potential recession and other adverse economic conditions (such as heightened inflation and interest rates, fluctuations in exchange rates and slower growth and risks and uncertainties associated with the conflict in the Middle East), which could adversely impact our revenues, expenses and resulting margins. In addition, certain material factors and assumptions have been applied in making these forward-looking statements, including the assumption that the risks and uncertainties outlined above will not cause actual results or events to differ materially from those described in these forward-looking statements. References in this presentation to future launch dates refer to the anticipated launch dates for the applicable product, based on management’s estimates taking into account, among other things, the current stage of the development or regulatory pathway of such products, typical development, regulatory and launch timelines for similar products and assumptions regarding sufficient supply availability for launch purposes. In addition, unless otherwise indicated, references in this presentation to peak sales refer to the potential peak annual sales of the applicable product, based on management’s estimates, taking into account, among other things, sales of similar products. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch + Lomb undertakes no obligation to update any of these forward- looking statements to reflect events or circumstances after the date of this presentation or to reflect actual outcomes, unless required by law. Disclaimers
Slide 3 — Yehia Hashad, MD
3 Yehia Hashad, MD Executive Vice President, R&D & Chief Medical Officer Bryan Reed Vice President, Vision Care R&D James DiBella Director, Vision Care Formulations and New Materials Bill Reindel, OD Executive Director, Vision Care Clinical Development Mark Schaeffer, OD, FAAO, Optometrist, Ocular Disease & Contact Lenses, MyEyeDr
Slide 4 — Contact Lens
2ND DD SIHY LENS INNOVATION DESIGNED FOR AFFORDABILITY PREMIUM FRP SIHY PROVIDING UNSURPASSED LENS COMFORT Launch Date: 2029 Peak Sales: ~$250M Launch Date: 2029 Peak Sales: ~$300M DRIVE REVENUE GROWTH ACROSS ALL MARKET CATEGORIES DRIVE MARGIN EXPANSION BY LEVERAGING EXISTING MANUFACTURING PLATFORMS Contact Lens Pipeline Designed with Purpose 1 FIRST-OF-ITS-KIND BIOACTIVE CONTACT LENS MATERIAL Launch Date: 2028 Peak Sales: ~$500M CUTTING-EDGE SIHY LENS DESIGN TO SLOW PROGRESSION OF MYOPIA Launch Date: 2029 Peak Sales: ~$200M 4 1. See Slide 2 for further information on forward-looking statements.
Slide 5 — Opportunity: ~70% of Wearers Report End-of-Day Dryness
5 > 140 Million Contact Lens Wearers Worldwide2 Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens 19.9% 49.8% 69.1% % of Contact Lens Wearers Who Report Dryness Symptoms1 Morning Afternoon Evening 25% of patients drop out of contact lens wear in the first year5 Opportunity: ~70% of Wearers Report End-of-Day Dryness Opportunity Motivation for Wearers Challenges Reduction of Wearers Personal appearance 1 Social factors/peer perception 2 Freedom from glasses 3 Discomfort and dryness Cost Handling 1 2 3 Time of Day 4 1. 2025 Symptom Tracker – US Based, Age 18 – 40, 222 Daily Disposable Wearers and 235 Frequent Replacement Wearers. 2. Dumbleton K et al. IOVS, 2013 (TFOS CLD Epidemiology). 3. Shifting Focus: Generational Perspectives of Contact Lenses & Eye Care, Contact Lens Institute, Fall 2025. 4. Pucker AD, Tichenor AA. A Review of Contact Lens Dropout. Clin Optom (Auckl). 2020;12:85-94. Published 2020 Jun 25. 5. A. Sulley, G. Young, C. Hunt, S. McCready, M.T. Targett, R. Craven, Retention rates in new contact lens wearers, Eye Contact Lens 44 (Suppl 1) (2018) S273–S282. 3 1
Slide 6 — B+L Defined the Industry — Now Advancing It Again
6 1971 1999 2028 Hydrogel B+L launches SofLens® First mass-produced soft contact lens Silicone Hydrogel B+L launches PureVision® First silicone hydrogel contact lens Bioactive Hydrogel B+L launches Project HALO First-of-its-kind contact lens material Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens B+L Defined the Industry — Now Advancing It Again Creating a New Category by Introducing The First Bioactive Contact Lens Material1 1. See Slide 2 for further information on forward-looking statements.
Slide 7 — From Bioactive Hydrogel Matrix to a New Lens Category
7 HALO material with HA polymerized into the lens matrix (80% water) Conventional Hydrogel lens matrix (70% water) Conventional Silicone Hydrogel lens matrix (40% water) “Hydrogels are cross-linked polymeric networks that can swell by entrapping water molecules, forming porous, soft, flexible, and fluidic 3D structures.”1 Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens From Bioactive Hydrogel Matrix to a New Lens Category 1. Sekar MP et al. Hyaluronic Acid as Bioink and Hydrogel Scaffolds for Tissue Engineering Applications. ACS Biomater. Sci. Eng. 2023;9:3134-3159.
Slide 8 — HALO Material Engineering: Bioactive & Breathable
8 Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens HALO Material Engineering: Bioactive & Breathable Key Insights • HA in the lens is recognized and released by a naturally occurring enzyme – indicating the material is bioactive • HALO’s advanced network enables oxygen permeability comparable to the leading SiHy lenses on the market 1. Data on file. Enzymatic Release of HA from Lens1 0 10 20 30 40 50 60 70 80 90 100 % Oxygen Available to Cornea 98% 97% 93% Biotrue® ONEday Dailies Total1 88% 1-Day Acuvue Moist 88% Dailies AquaComfort Plus INFUSE® Acuvue Oasys 1-Day Precision1 & MyDay 98% 98% 97% Clariti 1 day 96% Bioactive Lens Oxygen Permeability % Oxygen Available to Cornea1 0 200 400 600 800 1000 1200 1400 -10 -5 0 5 10 15 20 25 ng/Lens HA Concentration in natural tear ng/mL HA enzymatic release (ng/Lens)
Slide 9 — HALO Material Engineering: Soft & Smooth
9 Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens HALO Material Engineering: Soft & Smooth Key Insights • The soft surface of the lens is designed to reduce the interaction between the lens and the eyelid • Low coefficient of friction results in a smooth surface to minimize the interaction between the eyelid & lens on each blink 1. Data on file. 0 50 100 150 200 250 300 350 Surface Modulus kPa Conventional Lens SiHy Lens HALO Soft Surface1 Coefficient of Friction1 Coefficient of Friction1 0% 20% 40% 60% 80% 100% 120% 140% % INCREASE
Slide 10 — Beyond the Lens: HA in the Packaging Solution
10 10 Environmental exposure can generate oxidative stress on the ocular surface. The packaging solution helps maintain corneal epithelial cell health under these conditions The HA-containing packaging solution helps maintain the metabolic health of corneal and conjunctival epithelial cells under drying conditions Defending Against Dehydration Stress1 Shielding Against Oxidative Stress1 Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens Beyond the Lens: HA in the Packaging Solution 1. Data on file.
Slide 11 — 86.9%
11 11 Smooth, Wettable Surface Clear Vision Satisfied with Lenses 86.9% 98.5% 98.5% Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens Clinical Validation: First Multi-Site Performance Study Investigators rated HALO highly across vision, surface quality, and overall satisfaction Material properties demonstrated in the lab translate to on-eye performance Study Design 8 sites across the US Randomized, bilateral, masked Wearing time 8-16 hours a day for 7 days +/- 2 days 1. Data on file. 1
Slide 12 — Sustained Hydration on the Eye: 12-Hour Moisture Retention
12 12 99 94 90 100 HALO Silicone Hydrogel % Moisture Retained Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens Sustained Hydration on the Eye: 12-Hour Moisture Retention Study Design 1 site in the US Randomized, bilateral, unmasked Wearing time 12 hours Why It Matters • After 12 hours of wear, HALO retained 99% of its moisture • Silicone hydrogel lenses lost over 5% moisture in the same period, which may contribute to end-of-day dryness 1. Data on file. 1
Slide 13 — Translating Innovation to Manufacturing
13 13 Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens Translating Innovation to Manufacturing Predictive Modeling in Action1 • Produce a first-of-its-kind bioactive lens with unique properties on our existing low-cost manufacturing platform Challenge • Minimizes capital investment and drives higher gross margin from day one • Accelerates material, design, and process optimization • Improves yields and process window Benefit • High performing cross-functional team • Use of SVEM predictive modeling (DOE x Machine Learning) to balance competing factors How 1. For illustrative purposes.
Slide 14 — Key Takeaways
14 14 Developing on existing low-cost manufacturing platform; 1) minimizes capital investment and 2) drives higher gross margin Further optimizing material and design; second external performance study planned for 2H26 with launch on track for 2028 Material has unique properties targeted to address end-of-day dryness and comfort; first lens in new bioactive material category 1. See Slide 2 for further information on forward-looking statements. Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens Key Takeaways 1
Slide 15 — Myopia Control: Engineering a Differentiated Contact Lens
15 15 Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens Myopia – Now and in 20502,3 Number of Myopes Myopia Prevalence (%) 22% 33% 52% 2000 2020 2050E2 4.9B 1.3B 2.6B Driven by modern lifestyle shifts Near Work: Increased screen time and close-distance reading 1 Less Outdoor Time: Reduced exposure to sunlight, believed to help regulate eye growth 2 Urbanization: Kids in urban environments show consistently higher myopia rates 3 Global Prevalence of Childhood Myopia is Substantial and Projected to Exceed 740 Million Cases by 20501,3 Myopia Control: Engineering a Differentiated Contact Lens Among children and adolescents, a 2024 meta-analysis (276 studies; 5.4M participants) confirms prevalence rose from 24% (1990) to 36% (2023)—projected to exceed 740 million by 20504. The trend is accelerating post-COVID-19, underscoring the urgency for effective intervention 1. Holden et al., Ophthalmology (all ages). 2. Report of the Joint World Health Organization – Brien Holden Vision Institute Global Scientific Meeting on Myopia, UNSW. 3. See Slide 2 for further information on forward-looking statements. 4. Liang et al., Br J Ophthalmol 2025 (children/adolescents).
Slide 16 — The Science of Myopia Progression: Why Intervention Matters
16 16 Axial elongation of the developing eye causes distant images to focus in front of the retina Unchecked progression raises lifetime risk of myopic maculopathy, retinal detachment, and glaucoma Peripheral myopic defocus signals the eye to slow axial growth Engineering this defocus into a contact lens is the scientific foundation for optical myopia control Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens The Science of Myopia Progression: Why Intervention Matters 1. National Eye Institute. (2020, August 11). Multifocal contact lenses slow myopia progression in children. National Eye Institute. 1
Slide 17 — Converging Science Points to a Differentiated Lens Design
17 17 Converging Science Points to a Differentiated Lens Design OPTICAL INTERVENTIONS PHARMACOLOGICAL BEHAVIORAL/ LIFESTYLE NOVEL THERAPIES COMBINATION TREATMENTS 1 2 3 4 5 Convergence of Science Higher peripheral plus power Emerging recognition that zone customization is important for individual patients Applied over a larger proportion of the pupil area 1 3 2 Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens Our Differentiated Design Approach • Higher peripheral plus power to generate a stronger myopic defocus stop signal • Treatment zones applied over a large proportion of the pupil area • Multiple zone diameters enabling clinician-directed adjustment for individual patients
Slide 18 — Balancing Vision and Myopia Progression Control
18 18 PROJECT HALO: Bioactive Contact Lens Myopia Contact Lens Balancing Vision and Myopia Progression Control Maintaining Optical Performance Across Zone Configurations Key Insights • The central refractive and peripheral high plus portions contribute to image formation across the retina for both Z1 and Z2 configurations • Both Z1 and Z2 produce substantial myopic defocus in the peripheral retina, which validates the intended treatment mechanism • These results support classification of the Myopia Control lens as a single investigational device available in two optical configurations, differing only in central refractive zone diameter Central Refractive Zone and Peripheral Plus-Power1 Comparison of Z1 and Z2 Peripheral Defocus1 High Plus Portion Z1 Central Refractive Portion 5.5 mm High Plus Portion Z2 Central Refractive Portion 5.5 mm 1. Data on file.
Slide 19 — DD SiHy Myopia Contact Lens Designed for Kids
19 19 “Made for Kids” Innovative customized approach to balance controlling myopia progression with daily vision needs of kids age 6-12 Myopia Contact Lens Differentiated peripheral defocus design with Premium DD SiHy Material Cutting-Edge Lens Design Paired with High Peripheral Plus Power 1 Multiple Zone Diameter Configurations 2 PROJECT HALO: Bioactive Contact Lens DD SiHy Myopia Contact Lens Designed for Kids Novel Design to Control the Progression of Myopia Dose Adjustment Across SKU Range 3
Slide 20 — Key Takeaways
20 20 1. See Slide 2 for further information on forward-looking statements. Differentiated peripheral defocus design; innovative customized approach “Made for Kids” Registration clinical study planned in U.S. for 2H26 and additional global studies planned in China and Japan Targeting best-in-class lens; novel design paired with premium DD SiHy material Myopia Contact Lens PROJECT HALO: Bioactive Contact Lens Key Takeaways 1
Slide 21 — Contact Lens
21 21 Pipeline Designed with Purpose 1. See Slide 2 for further information on forward-looking statements. 2. Expected. FIRST-OF-ITS-KIND BIOACTIVE CONTACT LENS MATERIAL Potential Peak Sales: ~$500M Bioactive Contact Lens 2nd External Study Start: 2H262 Potential Peak Sales: ~$200M U.S. Registration Clinical Study Start: 2H262 CUTTING-EDGE SIHY LENS DESIGN TO SLOW PROGRESSION OF MYOPIA Myopia Contact Lens 1