Bausch + Lomb Corporation (NYSE:BLCO) Q1 2024 Earnings Call Transcript

But we do want to see that get to 70%, 80% coverage in both categories until we feel good about it. So some work to do there, but a great start. In terms of manufacturing capability for Miebo, Miebo has made it a third-party supplier. We have been working with them to improve coverage. We are going to transition to our own facilities. In fact, packaging is being transitioned as we speak to our Tampa facility. And over the next 12, 18 months, it will start to ramp up our own ability to produce. So we’ll have 2 sources of supply, which is really what you want to be for an important product like Miebo. The other thing I would mention is we’ve been — I think the team has done a great job with the Miebo launch without a sample. There was no sample planned prior to my arrival.

And so we’ve been working hard to get a sample, and we should have that in the back half of the year as well. So as I think about Miebo, it was the key success factors for us on an execution front were the sales force that was done late February. And so they’re off and running. It was getting coverage. We’ve made good progress. We have about 50-50 commercial Medicare going into the back half of the year, still some work to do, but a big check there. And then it was about getting the sample and getting trial. And so that’s coming, too. So great performance and $28 million in the first quarter, but a lot to like and get excited about as we continue to invest and build the franchise. So thanks, Doug. So I’ll just conclude by thanking everyone for joining us.

We do feel really good about the first quarter performance and the broad-based nature of the performance, all businesses, all geographies, and we look forward to staying — keeping you updated as we continue to stay absolutely focused on our customers and execution and driving our business forward. Thank you so much.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.