Allergan Plc [NYSE: AGN] is a multinational pharmaceutical company that produces both drugs and conducts research and development within the same industry.
It is no secret that AGN specializes in ophthalmology, women’s health and aesthetics products, one of which includes a well-known product and their best-seller, called Botox.
Botulinum Toxin, most commonly known as Botox, is a non-surgical cosmetic treatment which is used worldwide. It is a wrinkle treatment that cripples repressed muscles that is administered by injection through the skin at the site of fine lines and wrinkles.
Generally used by women, Allergan has started advertising a Botox treatment specific to men. This proves that men are starting to be more conscious about their physical appearances, just like women.
Botox’s reported sales has exceeded, fell just below or breaks even with estimated sales. The last two quarters however, sales reported exceeded that of estimated sales, with Q1 generating $817.3 million globally. The company usually has competitive advantage with the fact that Botox is hard to replicate, however, in recent times, Revance Therapeutics Inc announced that they were developing a carbon copy of the same product that research shows the possibility of it lasting longer than Botox.
This news of course places some concern of the longevity of the company and how much longer it would be able to be on top. However, competition is something that also drives growth, it pushes a company to ensure there is maintenance of quality and that research and development is invested in, to add more products and services which allows for the company to maintain and acquire more market share.
SSL posits that it was a good move for Allergan Plc to provide a product for men. Women too long have been looked down upon for trying to enhance what they were born with; times have changed and now men are looking for cosmetic enhancements too.
In recent times we have even realized that men don’t only wear toupees but are now gravitating to wearing wigs just like women. This is a way that Allergan has now not only grabbed the attention of women, but also that of men, broadening their market share and keeping their name above all others.
Additionally, the company has a new drug that analysts say could be a game-changer for depression. In Jamaica and many other Caribbean islands, mental health is something that is still taken lightly by many people; however, it is wide-spread and prevalent.
Information on both products are in the pipeline, so we will see where these products will take the company and continue to watch its growth.
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