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Bausch & Lomb

This article was originally published in The Tan Sheet

Executive Summary

Firm announces a $4.7 mil. charge to second quarter earnings to settle a consumer class action lawsuit related to B&L's marketing and labeling of contact lens care and eye care solutions. Under the settlement, B&L will change labeling and packaging to make "description of ingredients consistent with chemically identical solutions sold by B&L with different names, for other uses and at less expensive prices." The firm also will include a total of $12 mil. in coupons inside contact lens solution packaging. A fairness hearing on the settlement is slated for Sept. 13. Second quarter vision care sales for the three months ended June 24 were $258.6 mil., down 2.1% from the year-ago period
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