Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
The BOTOX Predictor Index?
By Staff Reporters
***
***
It’s looking more than likely that we’ll see a recession in the next year, and Americans are preparing themselves by taking steps like delaying major purchases, allocating more of their income to savings, and staying in jobs they don’t love. Another thing they’re not doing? Getting Botox. And that’s bad news for AbbVie; according to Neal Freyman of Morning Brew.
AbbVie, one of the biggest drug manufacturers in the US, brought Botox into its medical aesthetics portfolio—which also includes the popular dermal filler Juvederm—in 2020, when it bought rival drugmaker Allergan for $63 billion. AbbVie CEO Richard Gonzalez said during the company’s Oct. 28 earnings call that the company expects the aesthetics business to take a hard hit in 2023 as recession fears cause consumers to be more cautious with their spending.
“Based on all the data we’ve been observing, especially in the US, with both the consumer-confidence index and real personal consumption expenditures trending down and continued high inflation, these factors are putting pressure on consumer’s discretionary spending,” Gonzalez said.
AbbVie lowered its 2022 full-year forecast for its aesthetics business by $600 million, down to $5.3 billion. After the earnings call, AbbVie’s stock fell 4.3%. Through the third quarter of 2022, Botox has brought in $1.97 billion for the aesthetics business. The third quarter saw $637 million in cosmetic Botox sales, down from an expected $640 million. Gonzalez said he doesn’t think the hit on sales will last long, though.
***
***
“As consumer confidence improves, we would once again expect the market growth to accelerate. Our aesthetics portfolio experienced a rapid and sustained recovery following the 2008, 2009 recession,” Gonzalez said.
But Botox also faces a new competitor, called Daxxify, which just got FDA approval in September. Made by Revance Therapeutics, the drug may last longer: In clinical trials, Daxxify injections lasted six to nine months, while Botox injections typically last three months.
***
***
COMMENTS APPRECIATED
Thank You
***
Share this:
Filed under: "Doctors Only", Alternative Investments, Career Development, Drugs and Pharma, Health Economics, Health Insurance, Healthcare Finance, Investing | Tagged: AbbVie, AbbVie: The Economic Recession?, botex predictor index, economic recession, Morning Brew, pharma |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
ABBVIE
Teva Pharmaceutical Industries and AbbVie Inc. will pay more than $6.6 billion to states and local governments to settle thousands of lawsuits over the marketing of opioids, Reuters reports.
The details: Under the deals, Israel-based Teva will pay up to $4.25 billion, some of which will be paid as a supply of the overdose reversal drug naloxone. AbbVie’s Allergan unit will pay up to $2.37 billion. The final amounts of the settlements will depend on how many plaintiffs opt into them.
Both companies have been accused of misleading marketing practices that fueled opioid addiction in states across the country. The settlements are not an admission of wrongdoing in the epidemic that, according to federal data, killed more than 100,000 Americans last year alone.
Ken
LikeLiked by 1 person