Lumify Ad Launches As Bausch Spends More Behind OTC Eye Care Brands
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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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.
With the eye-care business set for its own stock exchange listings next month and the future of Sandoz the subject of much discussion, Novartis' plan to be a pure play pharma firm moves ever closer.