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Investing.com -- Bausch + Lomb Corp (NYSE:BLCO) shares tumbled 4.3% in premarket trading after the company announced a voluntary recall of intraocular lenses (IOLs) on its enVista platform. The eye health company initiated the recall following reports of complications potentially linked to toxic anterior segment syndrome (TASS), though the exact cause has not been determined.
The recall decision underscores the company’s commitment to patient safety, as expressed by chairman and CEO Brent Saunders. Despite the small percentage of implanted lenses affected and the positive prognosis for those involved, Bausch + Lomb has taken a proactive approach by communicating with eye care professionals regarding the impacted lots and return protocols.
The recall involves specific enVista Aspire, enVista Envy, and certain enVista monofocal IOLs. TASS is an inflammatory reaction that can occur after eye surgery, typically manifesting within 12 to 48 hours. Although Bausch + Lomb reported that all cases of TASS associated with its enVista lenses responded well to treatment and did not necessitate lens removal, the recall reflects the company’s cautious stance.
The news comes as Morgan Stanley (NYSE:MS) analysts adjusted their price target on Bausch + Lomb from $19.00 to $18.00 while maintaining an Equalweight stock rating last month. On February 24, 2025, they commented, "We anticipate the top-line to grow nicely in 2025, we expect operating expenses to rise as the company continues to invest in its newer launches."
As the market responds to these developments, investors will be closely monitoring Bausch + Lomb’s efforts to identify the root cause of the complications and the potential financial impact of the recall on the company’s future performance.
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