Bausch Lomb Brent Saunders Product Innovation ES

Thank you so much for having me. I'm excited to be here.

Well, there are a few things that needed to change. First, we had to focus on our selling capabilities, our sales force, making sure we had the best people with the best technology and products and everything else. We focused on our supply chain and really had gotten hurt by COVID and the disruption in supply chains. So, we really focused on creating a more reliable high-quality supply chain. And then most importantly, we focused on innovation. We really didn't have much in the cupboards. We recruited a lot of great talent into our R&D organization. And now, three years later, we're really excited to see some of the output of some of the great work that team has done to create innovations in eye care.

Yeah, so our goal was to not really focus on incremental innovations, but innovations that really elevated the standard of care for patients across all of our businesses. So in pharmaceuticals, we're looking at new medicines for the eye that treat disease in a more substantial way. That could be in dry eye where we're looking at combination therapy for patients. It could be in glaucoma where we're looking at neuroprotection in addition to controlling intraocular pressure, but really trying to preserve or enhance vision. Or it could be in an area that's complete white space like ocular pain where we're going to launch a new program to treat ocular pain where there is no treatment today. In contact lenses, there hasn't been a new material science innovation since 1999 when Bausch + Lomb introduced silicone hydrogel. So, it's been a long drought of 26 years without new material science. We're announcing a new biomimetic material that really works in a homeostasis way around your eye to create better ocular surface health and great comfort and vision for patients. In surgical, great new intraocular lenses for cataracts, new lasers, new tools for surgeons, and then consumer improving beloved products like Lumify or nutritional health for patients with AMD like Preservision. So really great new products coming that are meaningful step changes for treating eye health.

Yeah. So, we take a different approach for different types of innovations. So, for example, in contact lenses, we have a lot of research capabilities. And so, that's completely homegrown. On the pharmaceutical side, we go out and we collaborate and we buy early science and we develop the products through the regulatory framework or the clinical framework. So, it's not a one-size-fits-all. It's great ideas in this big ecosystem of innovation. Some will come from us, but a lot of them will come from outside. And let's work together to collaborate to bring the best outcomes for patients.

Yes. So Ashley, you said it, I think talent is the most important part of the equation for a successful company. If you think about all the things we invest in like R&D, the programs we just talked about, they don't have an unlimited return, right? The intellectual property goes away and we lose the product. Talent has unlimited compounding effect, and so it's the best investment we can make and the best way to recruit great talent is great culture and opportunity. People want to work someplace where they can have an impact in whatever area they work. If you're a lawyer, you want to have an impact in the legal department. If you're a scientist, you want to create new medicines or new products that ultimately reach patients and make a difference. And so it's about creating that ownership culture, eliminating bureaucracy, and let people get on with doing their job and create impact.