Bausch + Lomb (BLCO) was up more than 6% in recent Thursday trading after the eye health company said it is returning its enVista intraocular lenses to the market following the resolution of an issue that prompted a recent global recall.
The voluntary recall was officially initiated on April 3 and affected multiple enVista intraocular lenses models, including Aspire, Envy, and certain monofocal lenses. It followed a rise in reports of toxic anterior segment syndrome, an inflammatory reaction that can occur after cataract surgery.
Bausch + Lomb said its investigation, conducted with the help of external experts and surgeons, identified a strong link between the affected cases and raw material used in certain lens lots from a different vendor. The company said it has now confirmed the root cause and the specific lots impacted.
In response, Bausch + Lomb implemented enhanced inspection protocols and new vendor standards. With those measures in place, the company has resumed full production and expects to restore US market supply in the coming weeks.
Reentry into other markets will be determined in collaboration with local regulatory authorities, the company added.
Price: 13.54, Change: +0.80, Percent Change: +6.28
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.