Quantcast
Channel: In Your Face » Juvederm
Viewing all articles
Browse latest Browse all 10

Recession? Not in Botox Land

0
0


Strong sales of Botox and other Allergan products reflect the preferences of the company’s upper-income clientele.

Photo: Botox injection. (Photo by Leonard Ortiz, The Orange County Register)
Slide show: No. 1 plastic surgeries for young and old, including many Allergan products

HIGHER-INCOME PATIENTS

You wouldn’t know the economy is weak just by looking at sales of Botox and other cosmetic treatments from Irvine-based Allergan.

During the second quarter of this year, sales of  Botox were up 11.8 percent from the same period a year earlier, excluding the effects of currency changes for sales abroad.

Sales of Allergan’s breast implants were up 11.9 percent. Sales of Juvederm and other facial injectables were up 20 percent.

The eyelash-boosting drug Latisse experienced a 9.2 percent drop, but that came after a big promotion earlier in the year. For the full period from January through June, Latisse sales were up 9.7 percent from a year earlier.

Allergan Chairman David Pyott doesn’t interpret the strong sales as an indicator of overall economic strength, but as a sign that the company has higher-income customers who are protected from the full brunt of the nation’s economic troubles.

“It appears that our patient groups are much more skewed to, let’s say, the higher income brackets, therefore they have more resistance to absorb increased cost of food, increased cost of gasoline, increased cost of clothing, that has been going on at least in the last 6 to 12 months,” he said in a conference call transcript provided by Seeking Alpha,

Allergan products are key to some of the most popular types of cosmetic procedures, including breast implants and injections of Botox and dermal fillers. (See slide show about the most popular types of plastic surgery.)

The company’s total sales were $1.4 billion for the quarter, up nearly 14 percent, including eye medications as well as cosmetic products. Profits rose 3 percent to $246.6 million.

Pyott said, “Growth outside the U.S. was particularly impressive with year-over-year growth of 29 percent  in dollars in international markets, with Asia-Pacific growing 36 percent, Europe, Africa and Middle East by 30 percent and Latin America by 28 percent.

“For the first time since [2001], sales outside the U.S. accounted for greater than 40 percent of total sales.”

In the United States, sales growth of Botox for cosmetic uses was “well into the double digits,” he said.

Other highlights of the company’s quarterly financial report:

  • Allergan estimates that Botox has about 76 percent of worldwide market share for neuromodulators.
  • Regarding last year’s introduction of Dysport wrinkle-smoothing injections as a competitor to Botox in the United States, Pyott said, “we’re pleased that we’ve been able to contain Dysport share at about 17 percent.”
  • Sales of the new Juvederm XC — Juvederm mixed with lidocaine anesthetic — prompted the increase in sales in the facial injectables category.
  • Allergan’s sales of breast implants benefited from “a continuing trend of market preference for higher-priced silicone gel implants,” Pyott said.
  • Sales of the Lap-Band gastric band for weight-loss surgeries were down 15.3 percent. Contributing to that was an overall drop in bariatric surgeries — down 8 percent through May — and the rising popularity of sleeve gastrectomies, an alternative bariatric stomach-shrinking procedure.

Recession? Not in Botox Land is a post from: In Your Face


Viewing all articles
Browse latest Browse all 10

Latest Images

Trending Articles





Latest Images