New uses for Botox could see sales soar
David Pyott, chief executive of Allergan Inc., the parent company of cosmetic treatment Botox, has predicted double-digit profit growth between now and 2016 thanks to high sales of both Botox and eye and urology medicines. Mr Pyott believes that new uses for Botox could also be a big driver in the brand’s success going forward. The injectable treatment is currently used to combat fine lines and wrinkles, but it is increasingly being used to treat hyperhidrosis (excessive sweating) and migraines. “Just think of the diversity of the different growth drivers both by product and geography”, Mr Pyott told the Reuters Health Summit in New York yesterday. Sales of Botox have already risen by 10 per cent to a total of $365 million and are testament to the successful recovery from the global financial crises that hit the cosmetic surgery industry hard. Sales of Botox are expected to total $1.55 billion this year and industry analysts have predicted that the sales of Botox to treat migraines alone could eventually reach $800 million.