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MarketScreener Homepage  >  Equities  >  Nyse  >  Allergan plc    AGN   IE00BY9D5467

ALLERGAN PLC (AGN)
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Allergan says revenue from aesthetics unit may double by 2025

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09/14/2018 | 07:49pm CEST
The Allergan logo is seen in this photo illustration

NEW YORK (Reuters) - Allergan Plc said revenue from its medical aesthetics business could double by 2025, even as it faces increasing competition for its blockbuster wrinkle treatment, Botox.

The drugmaker announced earlier on Friday the acquisition of Bonti Inc, which makes a shorter-acting neurotoxin than Botox.

Allergan is also doubling its investment in direct-to-consumer ad spending and beefing up its sales force as companies like Revance Therapeutics Inc and Evolus Inc vie to wrest market share with rival treatments to Botox. The company made the announcements at its Medical Aesthetics Day in New York.

Chief Commercial Officer Bill Meury said Allergan expects revenue at its medical aesthetics unit to grow to $7 billion to $8 billion. That compares with revenue of $3.8 billion from the business in 2017.

Beyond Botox, the unit includes dermal filler Juvederm, the CoolSculpting fat-freezing systems, and other treatments.

He said the forecast implied an 8 to 10 percent compound annual growth rate.

Meury said the Bonti acquisition would allow the company to market a new "starter toxin." Patients could test drive the treatment, which lasts for two to four weeks, to help them decide if they want to use longer-term Botox.

Shares of Allergan fell 0.9 percent to $188.21 on Friday, while shares of Revance were down 1.1 percent and Evolus fell around 2.5 percent.

(The story corrects Allergan company stock price in final paragraph.)

(Reporting by Michael Erman; Editing by Chizu Nomiyama and Bernadette Baum)

By Michael Erman

Stocks mentioned in the article
ChangeLast1st jan.
ALLERGAN PLC -0.20% 187.6 Delayed Quote.16.95%
EVOLUS INC -0.66% 17.94 Delayed Quote.0.00%
REVANCE THERAPEUTICS INC 2.57% 25.95 Delayed Quote.-29.79%
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Financials ($)
Sales 2018 15 523 M
EBIT 2018 7 411 M
Net income 2018 -1 186 M
Debt 2018 23 063 M
Yield 2018 1,47%
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 5,59x
EV / Sales 2019 5,35x
Capitalization 63 680 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 212 $
Spread / Average Target 13%
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Managers
NameTitle
Brenton L. Saunders Chairman, President & Chief Executive Officer
Wayne R. Swanton Executive Vice President-Global Operations
Matthew M. Walsh Chief Financial Officer & Executive Vice President
C. David Nicholson Chief Research & Development Officer
Charles Hugh-Jones Chief Medical Officer
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