Bausch Health Boosts Ad Spending For Expanding OTC Eye Care Lineup
"We're investing more to drive growth as we allocate capital to support the launches of new products in the segment like Lumify, for DTC advertising that continue to drive sales growth of other US consumer products like our eye vitamins," says CEO Joseph Papa.
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Lumify eye drops, the first OTC brimonidine tartrate ophthalmic solution 0.025% in the US, will reach stores in late May. Corporate name change, says CEO Joseph Papa, shows Valeant is "beginning to turn the page away from legacy issues that have been headwinds over the past few years."
Troubled Valeant has started the new year by announcing the sale of some $2.1bn in assets to get funds to hone down its operations and to start easing its debt burden amid allegations of unethical practices.