Bausch Expects US Approval In 2020 Of Preservative-Free OTC Ketotifen Eye Drop
Bausch says it expects US FDA to approve its ANDA for the first preservative-free OTC eye drop for ocular itching associated with allergic conjunctivitis in the second half of 2020. The firm reports its Lumify redness relief drops generated sales of $63m for 2019.
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After most of the big pharmaceutical companies reported their full-year 2019 financial results, the second month of earnings season brings the long tail of smaller biotech companies and the generic pharmaceutical companies. There is more than one uncomfortable parallel from the former in the reports of the latter.
Lumify redness relief eye drops nearly doubled in sales between Bausch's second and third quarters and drove 7% organic growth of its global consumer business compared to the year-ago period. The brand has double the market share of its two closest competitors, and the firm plans clinical studies for product extensions to the brand in 2020.
Lumify reached 35% market share in US OTC eye drops and Ocuvite and Preservision vision health supplements are the No. 2 sales driver across Bausch's total portfolio.