Bausch Health Boosts Ad Spending For Expanding OTC Eye Care Lineup
This article was originally published in The Pink Sheet
"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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In a market expected to reach $2.85bn in worldwide sales in 2024, Bausch Health's Bausch + Lomb business launches Ocuvite Eye Performance, formulated to help strengthen the macula and protect the eye from stressors such as sun light and blue light emitted from digital devices, in the US while considering expanding distribution to other countries.
Following first anniversary of Lumify launch, "we're still in a pretty heavy investment period supporting trial because our data suggest that when people use the product, they persist in using the product. And so for now, we got our foot down on of the promotional side," says CFO Paul Herendeen.
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