Company: BLCO
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001860742-25-000018
Chunk: 80

Company: Bausch & Lomb Corp
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 80
---
 impairments$— $5 Restructuring, integration and separation costs32 17 Gain on sale of assets— (5)Litigation and other matters7 1 Acquired in-process research and development costs29 3 Acquisition-related costs3 1 Acquisition-related contingent consideration(27)1 Other expense, net$44 $23 Acquired in-process research and development costs in 2025 primarily relate to the acquisition of Whitecap Biosciences, as previously discussed.Operating (Loss) IncomeOperating loss was $94 million for the six months ended June 30, 2025, as compared to operating income of $32 million for the six months ended June 30, 2024, a decrease in our operating results of $126 million. This decrease primarily reflects the increase in SG&A and other expense, each as previously discussed.Segment ProfitThe following table presents segment profits, segment profits as a percentage of segment revenues and the period-over-period changes in segment profits for the six months ended June 30, 2025 and 2024.20252024Change(in millions)AmountPct.AmountPct.AmountPct.Segment Profits / Segment Profit MarginsVision Care$385 27 %$370 28 %$15 4 %Pharmaceuticals48 8 %131 23 %(83)(63)%Surgical(5)(1)%15 4 %(20)(133)%Vision Care Segment ProfitThe Vision Care segment profit was $385 million and $370 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $15 million. The increase was primarily driven by the increase in revenue, partially offset by higher cost of sales, driven by our contact lens businesses and higher selling expense.Pharmaceuticals Segment ProfitThe Pharmaceuticals segment profit was $48 million and $131 million for the six months ended June 30, 2025 and 2024, respectively, a decrease of $83 million. The decrease was primarily driven by: (i) higher selling and advertising and promotional expenses related to MIEBO®, (ii) declines in the U.S. generics business and (iii) gross-to-net pricing pressures, primarily attributable to XIIDRA®.Surgical Segment ProfitThe Surgical segment profit was a loss of $5 million for the six months ended June 30, 2025, as compared to a profit of $15 million for the six