Newsroom
Customer Safety is Our Top Priority, Says CEO
FOR RELEASE MONDAY, MAY 15, 2006
ROCHESTER, N.Y. - Bausch & Lomb (NYSE:BOL) announced today that it is permanently removing its MoistureLoc ® contact lens solution from worldwide markets effective immediately.
"Bausch & Lomb's top priority is the safety of our customers, and we want them to have complete confidence in our products." said Bausch & Lomb Chairman and CEO Ronald L. Zarrella.
Health authorities in Hong Kong, Singapore and the United States previously reported that the MoistureLoc formula was used by many of the contact lens wearers treated for a rare eye infection called Fusarium keratitis. Bausch & Lomb immediately launched a massive investigation to determine the root cause of the infections and understand why there appeared to be a disproportionate association with MoistureLoc. Because the product sold in those markets was made in the company's Greenville, S.C. factory, Bausch & Lomb initially removed the MoistureLoc product from markets supplied by that plant.
"After an extensive investigation involving thousands of tests, millions of dollars and collaboration with government agencies, health authorities and independent experts, there is no evidence of product contamination, tampering, counterfeiting or sterility failure," Zarrella said. "That leads us to conclude that some aspect of the MoistureLoc formula may be increasing the relative risk of Fusarium infection in unusual circumstances. We are continuing to investigate this link, but in the meantime, we're taking the most responsible action in the interests of our customers by discontinuing the MoistureLoc formula. We are taking this action even in countries where we have seen no unusual trends in Fusarium infections, for example in China and the markets in Europe, the Middle East, and Africa."
The FDA and the U.S. Centers for Disease Control and Prevention previously reported that MoistureLoc solution was disproportionately represented among the confirmed cases of Fusarium keratitis, as compared with other Bausch & Lomb or competitive products.
Bausch & Lomb suggests that former MoistureLoc users switch to ReNu MultiPlus or ReNu Multi-Purpose, the brands more people worldwide have chosen for their contact lens care. Those products each have longstanding unsurpassed records of safety and effectiveness, and each has a formula different from that of MoistureLoc. Manufacturing plants in Greenville, S.C.; Milan, Italy; Beijing, China; and Bhiwadi, India, will shift production from MoistureLoc to the ReNu MultiPlus and ReNu Multi-Purpose formulas.
Bausch & Lomb is working with eye care practitioners to launch new programs that will provide consumers with products and information for better eye health. Eye care practitioners agree that contact lens wearers reduce the risk of infection when they follow proper lens wear and care practices.
Bausch & Lomb introduced the MoistureLoc formula in late 2004. The product contributed approximately $100 million of sales in 2005. The company has not provided revenue or earnings guidance for 2006 and has not estimated the financial impact of this action on its 2006 results.
INVESTOR CALL: Bausch & Lomb will hold a conference call for investors today at 2:00 p.m. Eastern. The call-in number is 913.981.5591. The rebroadcast number: 719.457.0820, confirmation 6465434. Replay will be available from 5:30 p.m. ET through midnight May 19, 2006. The investor call will be broadcast live on the Internet, available on the Investor Relations page of the Company's Web site, www.bausch.com, or at www.vcall.com.
NOTE TO TELEVISION PRODUCERS: Satellite feeds of a videotape statement from Bausch & Lomb Chairman and CEO Ron Zarrella will be available as follows:
UNITED STATES - THREE
FEEDS: Airdate: Today, Monday May
15, 2006
At 11:00 a.m. to 11:15 a.m. ET; 1:00 p.m. to 1:15 p.m. ET; 3:00 p.m. to 3:15
p.m. ET
Satellite Coordinates: IA 6 Transponder 21 C-Band
Downlink Frequency: 4120 V
ASIA FEED:
Airdate: Tuesday, May 16, 2006
Time: 0545-0600 GMT
Title: Bausch & Lomb Feed to Asia
Satellite: PAS-2/08C MCPC CH.2 (169' E)
Downlink Frequency: D/L: 3901.000 MHz Horizontal
FEC: 3/4
Symbol Rate (Ms/s) 30.80000
Virtual Channel: 2, Network ID: 1
Color: NTSC
PAS Ref: 05162006-375 (see below)
Playout: Pacific Television Center +1.310.287.3800
Uplink: Pas +1.404-381-2320
EUROPE FEED
Airdate: Tuesday, May 16, 2006
Time: 1100-1115 GMT
Title: Bausch & Lomb Feed to Europe
Satellite: AB1/B1/CH E (9MHZ)
Downlink Frequency: 10966.17H
FEC: 3/4
Symbol Rate: 6.1113
Bausch & Lomb is the eye health company, dedicated to perfecting vision and enhancing life for consumers around the world. Its core businesses include soft and rigid gas permeable contact lenses and lens care products, and ophthalmic surgical and pharmaceutical products. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. Founded in 1853, the Company is headquartered in Rochester, New York. Bausch & Lomb's 2004 revenues were $2.2 billion; it employs approximately 12,400 people worldwide and its products are available in more than 100 countries. More information about the Company can be found on the Bausch & Lomb Web site at www.bausch.com . Copyright Bausch & Lomb Incorporated.
® / TM denote trademarks of Bausch & Lomb Incorporated.
