Previous experience with product recall related problems suggests that they tend to blow over quickly. Ultimately, Bausch & Lomb is a diversified company and their consumer contact lens products are a minor portion of total sales. Bausch's main business is making contact lenses as well as selling equipment for ophthalmologic surgery, such a lasers and implants. None of that is affected by the recall of contact lens solutions.
Bausch's disposable contact lens business is agnostic to the lens care solutions business. The solutions business will recover in due time. In my opinion the right analogy would be Gillette's razor blade business and shaving cream business.
In the meantime, BOL is trading at 1.51 times book value with a forward P/E ratio of 10.6.