A day too late
Bausch & Lomb to compensate Singapore customers
SINGAPORE, March 10 (Reuters) - Eye-care product maker Bausch & Lomb , which suspended sales of its ReNu contact lens solution in Singapore and Hong Kong last month, on Friday announced a compensation plan for customers in Singapore.
Singapore's health ministry last month advised contact lens users to stop using ReNu as a precaution after it found that the majority of people who contracted a rare eye infection since 2005 had used the ReNu solution.
Bausch & Lomb said on Friday that customers in Singapore could exchange their contact lens solution for a cash voucher. A company spokesman in Hong Kong told Reuters the firm would launch a similar exchange scheme there.
"This is not a product recall as there is no scientific evidence to conclude that ReNu is the cause of the infections," the company said in a statement.
Bausch & Lomb has a market capitalisation of $3.6 billion and competes with Alcon Inc. , the world's biggest eye-care products company with a market capitalisation of $33 billion. Nestle is the majority owner of Alcon.
The exchange programme will run from Wednesday to March 29 in Singapore.
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SINGAPORE, March 10 (Reuters) - Eye-care product maker Bausch & Lomb , which suspended sales of its ReNu contact lens solution in Singapore and Hong Kong last month, on Friday announced a compensation plan for customers in Singapore.
Singapore's health ministry last month advised contact lens users to stop using ReNu as a precaution after it found that the majority of people who contracted a rare eye infection since 2005 had used the ReNu solution.
Bausch & Lomb said on Friday that customers in Singapore could exchange their contact lens solution for a cash voucher. A company spokesman in Hong Kong told Reuters the firm would launch a similar exchange scheme there.
"This is not a product recall as there is no scientific evidence to conclude that ReNu is the cause of the infections," the company said in a statement.
Bausch & Lomb has a market capitalisation of $3.6 billion and competes with Alcon Inc. , the world's biggest eye-care products company with a market capitalisation of $33 billion. Nestle is the majority owner of Alcon.
The exchange programme will run from Wednesday to March 29 in Singapore.
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Cheers, jo @ 11:45 PM
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