Specialist
Former VP at Alcon Laboratories Inc
Agenda
- Recent developments for contact lens manufacturers, including coronavirus impact
- ICLs (implantable collamer lenses) vs ATIOL (advanced technology intraocular lens) implants and factors affecting physician lens choices
- Competitive positioning and market share shifts among major players – Alcon (NYSE: ALC), Johnson & Johnson (NYSE: JNJ), Bausch + Lomb, CooperVision (NYSE: COO) and STAAR Surgical (NASDAQ: STAA)
- Eye-care recovery assessment and potential headwinds 5. Outlook including turnaround timeline and strategic assessments
Questions
1.
What key trends and themes are you monitoring in contact lens manufacturing?
2.
Do you anticipate any longer-term impact from consumers using contact lenses less through the pandemic, which has led to some of the flattish performance you alluded to? Could there be a normalisation over time, given some of the favourable drivers you also mentioned?
3.
Would you say any of the major global manufacturers are better- or worse-suited to managing through the pandemic? What factors might contribute to players being leaders or laggards?
4.
How do you assess the eye care recovery rate considering the slower recovery in brick-and-mortar retail channels? You mentioned that some of the consumer base has shifted online, but what net-net impact do you predict on manufacturers’ financials due to retail being slower to reopen?
5.
What are your thoughts on the channel dynamics? Are manufacturers trying to move away from third- party distributors? Are they trying to build out D2C channels while preserving the traditional distributor model? Would you be in favour of a greater strategic focus on D2C?
6.
What are your thoughts on Cooper’s focus on the daily silicone hydrogel market? Would you say there’s still a fair amount of growth runway? Do you agree with this strategic focus, given the Q2 earnings and the positive emphasis from management?
7.
You mentioned the new Bausch + Lomb daily Infuse silicone hydrogel lens. Could you outline the primary drivers for physician prescription choice? Have you noticed any differentiation around sales efforts or physician outreach? If so, have those initiatives driven meaningful revenue contributions? Do you think physicians are relatively agnostic to the outreach efforts?
8.
Could you comment on the not-yet-released Alcon-Johnson & Johnson advanced-technology IOL [intraocular lens] implant? Could this have market disruption potential?
9.
How would you say players are differentiated in the standard IOL segment? We’ve touched on silicone hydrogel and daily disposables being the growth engine for that market, but is there any other differentiation you would point out? Could you comment on the lens and surgical sides?
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