New & Improved Formula Builds on Trusted 30-Year Heritage of Meeting Consumers' Lens Care Solution Needs
LAVAL, Quebec, May 22, 2017 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc.'s (NYSE: VRX and TSX: VRX) wholly owned subsidiary, Bausch + Lomb, a leading global eye health company, today announced the launch of renu® Advanced Formula multi-purpose solution for soft and silicone hydrogel contact lenses. This unique formula combines three disinfectants and two moisture agents to provide excellent lens cleaning and disinfection, in addition to all-day comfort.
"At Valeant, we are keenly focused on continuing to drive innovation and enhance our existing portfolio using the most current scientific and clinical research to better meet the needs of our customers and their patients," said Joseph C. Papa, Chairman and CEO of Valeant. "The Bausch + Lomb Consumer Healthcare business remains a critical driver for our global eye health business, offering a wide range of over-the-counter supplements, eye care, and lens care products."
Bausch + Lomb was the first company to bring an 'all-in-one' multi-purpose disinfection solution to market with the launch of the renu brand in 1987. Today, the brand has grown to more than three million users. The new and improved renu Advanced Formula solution will replace renu sensitive and renu fresh solutions beginning in June in major retailers.
Bausch + Lomb's Consumer Healthcare business is one of the fastest growing consumer healthcare businesses in the U.S.1 and the No. 1 category growth contributor (62%) in the eye care category.2 The product portfolio includes such well-known brands as Biotrue® multi-purpose solution the No. 1 multi-purpose solution brand in households with the highest loyalty metrics3, and PreserVision® AREDS 2 Formula Eye Vitamin and Mineral Supplement (120 ct.), the No. 1 selling SKU in the vitamin category and the largest contributor to vitamin category growth.4
In addition to its product portfolio, Bausch + Lomb's Consumer Healthcare business has a rich R&D pipeline that relies on a research strategy to develop new formulations for new and existing products and line extensions, among others. This includes the company's new redness reliever candidate, brimonidine tartrate ophthalmic solution, 0.025% (Luminesse™5), which is currently under review by the U.S. Food and Drug Administration.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics. More information about Valeant can be found at www.valeant.com.
About Bausch + Lomb
Bausch + Lomb, a Valeant Pharmaceuticals International, Inc. company, is a leading global eye health organization that is solely focused on protecting, enhancing and restoring people's eyesight. Its core businesses include over-the-counter supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in our industry, which is available in more than 100 countries.
This press release may contain forward-looking statements which may generally be identified by the use of the words "anticipates", "if approved", "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and 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, risks and uncertainties discussed in the Company's most recent annual or quarterly report and detailed from time to time in Valeant's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. 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. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, unless required by law.
1 Based on retail sales
2 Based on IRI Data: Eye Care Category Includes General Eye Care, Lens Care, Vision Accessories, & Eye Vitamins
3 IRI data. Latest 52 wks. ending 01/01/17
4 IRI data. Latest 52 wks. ending 01/01/17
5 Provisionally approved name.
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SOURCE Valeant Pharmaceuticals International, Inc.