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Monday
Aug232010

Botox News: Allergans Profits Jump 36%

Botox continues to be a golden child for Allergan, but there are a number of other products that are bolstering the drug giant's sales.

Allergan, and most especially Botox, is always on my radar... Since we opened the first medical spa back in 2000, I'm sure that we've put more than one of Allergan's sales reps into a new house. (Perhaps not, I'm not really sure what Alergan's sales reps make.)

While there Medial Spa MD's physician members who are in a position to take advantage of our Select Partners have less expensive ways to get Botox than paying sales commissions, Allergan certainly still takes the lion's share of the profits from most Botox treatments that are performed. Botox has become something of a commodity, with almost every medical spa and laser clinic (and a few day spas) offering it.

For those of you who are interested in the Botox Behemeth's contnued rise, I give you the following compiled from their latest earnings report.

Allergans second-quarter earnings soared 36% with accelerating sales spurred on by their cosmetic products. There have also been recent developments that mark progress toward FDA approval to sell Botox injections to treat migraine headaches.

Allergan said the FDA has asked the company for certain material, such as a modified Botox "risk evaluation and mitigation strategy" that includes information about thepreventive treatment of migraines. Allergan has 3 months to provide the information. Allergan says it continues to expect an FDA answer this year.

Evidently wall street liked the news... especially the rising Botox sales since shares of Allergan traded up 5.4%. The company also raised its 2010 sales estimate for Botox. (Allergan posted total Botox sales of $1.31 billion last year, split evenly between cosmetic usage and various medical treatments.)

Allergan's total revenue rose 10% to $1.25 billion with double-digit gains in both its specialty pharmaceutical and medical device businesses. (Facial aesthetic products wer up 32% and skin-care products up 40%.)

Allergan's second quarter "benefited from a continued recovery in our cash-pay aesthetics business around the world," said Pyott said in a company press release.

Botox sales rose 7% in the quarter to $360.5 million. Looking ahead, Allergan said it now believes the drug will post sales of $1.36 billion to $1.39 billion this year, which compares with a forecast in February for $1.33 billion to $1.37 billion.

It dropped its forecast for the eyelash-enhancing drug Latisse, however, to a range of $90 million to $100 million, down from February's $140 million target. A big issue is that consumers have learned to stretch their supplies, which means Allergan has to figure out how to broaden the market to offset that effect.

Allergans Outlook For the full year of 2010

Total product net sales between $4,620 million and $4,750 million.

Total specialty pharmaceuticals net sales between $3,835 million and $3,930 million.

Total medical devices net sales between $785 million and $820 million.

  • ALPHAGAN  franchise product net sales between $370 million and $390 million.
  • LUMIGAN  franchise product net sales between $490 million and $510 million.
  • RESTASIS  product net sales between $580 million and $600 million.
  • SANCTURA  franchise product net sales between $70 million and $80 million.
  • BOTOX  product net sales between $1,360 million and $1,390 million.
  • LATISSE  product net sales between $90 million and $100 million.
  • Breast aesthetics product net sales between $290 million and $300 million.
  • Obesity intervention product net sales between $235 million and $250 million.
  • Facial aesthetics product net sales between $260 million and $270 million.
  • Non-GAAP cost of sales to product net sales ratio between 15.5% and 16.0%.
  • Other revenue at approximately $50 million.
  • Non-GAAP selling, general and administrative expenses to product net sales ratio between 39% and 40%.
  • Non-GAAP research and development expenses to product net sales ratio between 15% and 16%.
  • Non-GAAP amortization of acquired intangible assets at approximately $20 million. This expectation excludes the amortization of acquired intangible assets associated with the Inamed, Cornéal, EndoArt, Esprit, Samil and Serica acquisitions and the ACZONE(R) asset purchase.
  • Non-GAAP diluted earnings per share attributable to stockholders between $3.11 and $3.15.
  • Diluted shares outstanding between approximately 307 million and 308 million.
  • Effective tax rate on non-GAAP earnings at approximately 28%.

For the third quarter of 2010, Allergan expects:

Total product net sales between $1.13 billion and $1.18 billion.

Reader Comments (2)

Well, you see, botox surprises us all the time with it's results... both physical and financial. I still wonder if it worth it? Anyway, the statistics are looking good.

08.26 | Unregistered CommenterAnna Smith

Can you do Tattoo removal from chest area in patients who have breast implants?
I do not think there is any issue here but just double checking!
Anyone aware of serious complications from q switch lasers apart from usual precautions with pigment alteration. I always do test patch etc.
thanks

08.26 | Unregistered Commenterdr sanjay

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