Brand Credibility: Bausch & Lomb & greed gone wrong
Bausch & Lomb was the first company to receive FDA approval to market soft lenses and introduced the product in 1971. The popularity of its soft contacts soared after the launch of multiple regimens: “planned replacement,” “frequent replacement,” or “daily wear, two-week replacement lenses." As the market grew & became increasingly competitive, the production costs plummeted but Bausch and Lomb struggled to make profits: end-user prices also dropped and growth in the total number of lens wearers remained stagnant. In late 1989, Bausch & Lomb repackaged its existing traditional daily-use "OptimaFW" lens as a "Medalist" extended-wear lens; later, it repackaged the same lens again as a "SeeQuence2" disposable. OptimaFW line was the most expensive at $70 per pair (with an expected life of a year or longer) ; Medalist occupied the middle price range at $15 a pair (with a planned replacement period of one to three months) and SeeQuence2 li...