Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 15

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 15
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 however, we incurred disruptions during the implementation of this upgrade, which resulted in slower than normal processing of certain orders, thereby negatively impacting our revenues for the year 2023. We substantially resolved the Lynchburg implementation disruptions during the first quarter of 2024.Pharmaceuticals Segment RevenueThe Pharmaceuticals segment revenue was $1,209 million and $836 million for 2024 and 2023, respectively, an increase of $373 million, or 45%. The increase was primarily driven by: (i) the XIIDRA Acquisition, (ii) the launch of MIEBO® in September 2023 and (iii) growth in our International pharmaceuticals and Generics businesses. This increase included: (i) incremental sales from the XIIDRA Acquisition of $260 million and (ii) an increase in volumes of $146 million, primarily driven by MIEBO®, partially offset by: (i) a decrease in net realized pricing of $21 million, (ii) the impact of discontinuations of $6 million and (iii) the unfavorable impact of foreign currencies of $6 million.Surgical Segment RevenueThe Surgical segment revenue was $843 million and $767 million for 2024 and 2023, respectively, an increase of $76 million, or 10%. The increase was primarily driven by: (i) increased demand of consumables, (ii) increased equipment sales and (iii) increased demand of implantables, driven by our premium IOL portfolio. This increase included: (i) an increase in volumes of $58 million, (ii) an increase in net realized pricing of $18 million and (iii) incremental sales from acquisitions of $9 million, partially offset by the unfavorable effect of foreign currencies of $9 million.Cash Discounts and Allowances, Chargebacks and Distribution FeesAs is customary in the health care industry, gross product sales are subject to a variety of deductions in arriving at net product sales. Provisions for these deductions are recognized concurrently with the recognition of gross product sales. These provisions include cash discounts and allowances, chargebacks and distribution fees, which are paid or credited to direct customers, as well as rebates and returns, which can be paid or credited to direct and indirect customers. Provision balances relating to amounts payable to direct customers are netted against trade receivables and balances relating to indirect customers are included in accrued liabilities.We actively manage these offerings, focusing on the incremental costs of our patient assistance programs, the level of discounting to non-retail accounts and identifying opportunities to minimize