Could we steepen the curve and get there faster? And so we’re going to make investments based on data, based on KPIs, and see what we’re going to do. That being said, we’re absolutely committed to margin improvement, but we want it to be sustainable and we want margin improvement for the long term. And so that’s the balancing act that we would normally make in these decisions.
Vijay Kumar: Helpful comments. Thanks, guys.
Operator: Thank you very much. The next question is coming from Doug Miehm from RBC Capital Markets. Doug your line is live.
Douglas Miehm: Thank you. Two questions. Number one, with respect to XIIDRA, given the importance of the drug to the company now, how long do you believe it’s going to get to that mid-single-digit growth profile? And then my second question just has to do with the success of LUMIFY. Brent, maybe you could delineate in a little bit greater detail. We’ve had a number of launches, but what seems to be resonating with people? And how soon can we expect the other products within that LUMIFY pipeline to come to market? Thank you.
Brent Saunders: Sure. So, XIIDRA, it’s — we assumed it would happen what happened in the prior owner’s hands, but it happened a bit more severely, right. They really did neglect this drug. And as I said to the sales reps that came over two weeks ago, XIIDRA is finally home. It’s in a company that’s a dedicated eye care company. It becomes among our most, if not most important product, and they become arguably our most important field force versus an afterthought in the company they were at. And that’s highly motivating to them. The other thing I would point out is the Dry Eye category is incredibly promotionally sensitive. And I know that. I remember when XIIDRA launched, and I was at Allergan, we had RESTASIS. Many on the sell side thought that RESTASIS would go into decline, and it didn’t.
The market expanded to adapt to XIIDRA because of the increased promotion from XIIDRA and RESTASIS at the time. We saw tremendous market growth and both brands grew through the launch and beyond. And so I think that dynamic sets up well for us. We will have a very strong share of voice between XIIDRA and MIEBO. We really do have a 1-2 punch to treat the disease holistically. And we have an opportunity to really work with the ECP community to drive more of the untreated roughly 38 million patients in for treatment. And with a better option to treat whichever aspect of the disease they have with XIIDRA and MIEBO. So huge opportunity. That being said, XIIDRA comes in a little wounded, right, a little neglected. As I said earlier, fourth quarter is about stabilization and ’24 is about restoring it to growth.
I can’t give you the exact date that will happen, but I do expect that to happen in the back half of ’24. I do think — I think you’ll see that growth start to really come through. I’m very confident. I think we have the right team, the right setup, the right market, and now we just have to execute. With LUMIFY, really great performance, 47% growth compared to prior year. Record — I think what Sam said in his remarks, record revenue of $44 million in the quarter, so really exciting to see that brand continue to drive growth. Right now, we’re in the retail launch of Eye Illuminations, and you’ll see the consumer launch in the first quarter, another launch in ’24 as we keep talking about. So you’ll start to see the consumer campaign and advertising and promotion in the first quarter on that product.
But a real opportunity for us, interestingly, in an area I have a lot of experience in, we need to position LUMIFY less as an OTC drug and more as a beauty product. And when you can make your eyes look beautiful, your face looks more beautiful. And I know there are trends from my days in the aesthetics world around the importance of facial aesthetics and having brands like BOTOX and JUVEDERM in the past. LUMIFY is a really important part of that regimen. And so we’re still just breaking through that market. I don’t know where the top is because we just keep putting up record growth, but we’re going to keep investing behind it. And I think we have the best product to make your eye look beautiful. We’re now going to surround that with other products.
We have the preservative-free coming next, and then we’re looking at some combinations as well as improvements in the formulation. So we have a nice pipeline and we view this as a long-term investment. So I think that was our last question or we have one more?
Operator: No, that appears to be the end of the question-and-answer session.
Brent Saunders: Yes. Thank you, Operator. Well, again, thanks to everyone for joining us this morning. We remain very committed to focusing on driving our roadmap to accelerate growth. The quarter was another great testament to our teams around the world focused on execution and driving growth. And we look forward to keeping you updated as we progress and certainly excited for our future. Thanks for joining us.
Operator: Thank you very much, everyone. The conference has now concluded. Thank you for attending today’s presentation. You now may disconnect.
