12:36 PM EDT, 07/08/2024 (MT Newswires) -- RBC Capital notes that total prescriptions (TRx) for Bausch + Lomb's ( BLCO ) prescription for dry eye disease (DED), Miebo, increased week over week, while Xiidra (also for dry eye) printed a year over year decline.

Miebo TRx increased to 19,565 vs. last week's TRx of 16,580, notes analyst Douglas Miehm. "As has been the case for some time, the launch curve of Miebo remains ahead of the other recent DED Rx drug launches (Tyrvaya, Cequa and Eysuvis), although it has been generally below Xiidra," he adds. Xiidra TRx printed a third consecutive y/y decline following five consecutive y/y growth prints.

Miehm notes that at the first quarter earnings call, management reiterated its 2024 revenue guidance for Xiidra and Miebo at ~US$400 million and ~US$95 million respectively, despite weaker performance for Xiidra (US$79 million in revenue) and a better-than-expected performance of Miebo (US$28 million in revenue) in the first quarter.

Bausch + Lomb ( BLCO ) is rated Outperform, with a US$18 target.

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