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David E. I. Pyott, 53, became president and chief executive of Allergan in 1998 after spending his earlier management career in the nutrition subsidiaries of Novartis and Sandoz. The stock stood at $15.74 and the company was best known for its contact lens care solutions, according to The New York Times.
Allergan, based in Irvine, Calif., spun off the lens care and eye surgery businesses into Advanced Medical Optics in 2002. Since then, its identity has been increasingly linked to Botox, its branded delivery system for minute doses of a bacterial toxin that can paralyze muscles for several months. Thanks to Botox’s growing portfolio of cosmetic and medical applications, Allergan has forecast Los Angeles Botox sales this year to keep growing.
Beverly Hills Facial Implants And Botox Continue To Gain Popularity
Regarding companies specializing in specific facial treatments like wrinkle-reduction or rhinoplasty Los Angeles and Orange County residents have a wide selection of specialists available to consider when searching for the right cosmetic proecure. Allergan makes a range of pharmaceuticals for various eye and skin care products. Wall Street has applauded the company’s strong growth and strategic moves like the $3.4 billion acquisition of Inamed in 2006, which made Allergan a leader in silicone breast implants and implants to treat obesity in addition to giving it Juvéderm, a new injectable gel for combating wrinkles. Mr. Pyott discussed these recent developments. Following are excerpts:
Q. How should we think of today’s Allergan?
A. We’re seen as a biologics company because of Botox. Our valuation is in line with Genentech. But we are a very small version of Johnson & Johnson in many ways. Wall Street likes that a third of our business is discretionary spending. It’s a hedge against Medicare and insurers tightening their coverage.
Q. Far more people are now getting Botox for cosmetic purposes and that segment is growing faster, right?
A. Last year, worldwide, Botox use accelerated in cosmetics by 32 percent. Botox for therapeutics grew 17 percent. In the short term, cosmetics will become more than 50 percent of the use. But it could swing back at the end of the decade. We are working on headache relief and bladder control for people with spinal cord injuries. We’re looking this year for approval on the headache and 2011 for bladder control.
For more information about Botox, facial treatments, and Beverly Hills rhinoplasty, plastic surgeons recommend contacting your local surgery experts to learn more.