Bausch Health’s revenues were $2,138 million in the third quarter of 2020, down by 3 percent from a year earlier both on a reported and an organic basis, as the company continued to suffer from the impact of the Covid-19 pandemic. But, compared with the second-quarter, the top line was up a reported 28 percent.
The Bausch + Lomb/International segment outperformed with sales of $1,169 million, down by 1 percent on a reported basis and flat organically. Compared with the second quarter, reported sales were up by 32 percent.
Within the segment, global vision care revenues reached $214 million, down by 2 percent year-over-year on a reported and organic basis. Global consumer revenues amounted to $374 million, up by an actual 1 percent and by 2 percent organically, and International Rx revenues totaled $294 million, up by 7 percent on a reported basis and by 9 percent organically.
Vision care revenues were underpinned by a 20 percent increase in sales in the U.S., driven by Bausch + Lomb Ultra contact lenses. In the fourth quarter, the company plans to launch Bausch+Lomb Ultra One Daily disposable silicone hydrogel contact lenses in Australia, Hong Kong and Canada.
The company also acquired an exclusive license for a myopia control contact lens design developed by BHVI, an Australian not-for-profit organization.
In the quarter, it posted adjusted Ebitda of $948 million, up by 1 percent from a year earlier thanks to decreases in selling, general and administrative expenses. It swung to a net profit of $71 million from a net loss of $49 million. On an adjusted basis, the net profit rose by 10 percent to $469 million.
Bausch Health confirmed its full-year guidance and expects sales of $7,800-8,000 million, and an adjusted Ebitda of $3,150-3,330 million.