Aesthetics Market Resilience: AbbVie Asserts Widely Used Botox Dominance Amidst Rising Competition

AbbVie Inc ABBV remains confident in Botox’s resilience in the aesthetics market, assured by its ability to sustain a dominant 68% share, as highlighted by Chief Commercial Officer Jeffrey Stewart during the J.P. Morgan healthcare conference. 

In December, Consumer advocacy group Public Citizen filed a petition with the FDA, urging the agency to demand stronger warnings regarding the risk of a potentially fatal muscle-paralyzing disease linked to Botox and similar injections. 

These treatments, leveraging botulinum toxins to target specific muscles and erase wrinkles, currently carry a ‘black box’ warning about the potential for the intended effects to spread to other areas. 

Despite recent economic uncertainties impacting Botox sales, AbbVie anticipates continued strength, even in the face of emerging competitors like Revance Therapeutics Inc’s RVNC Daxxify and Evolus Inc’s EOLS Jeuveau.

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A notable concern for investors has been Revance’s Daxxify, known for its longer-lasting effects, lasting approximately six months, almost double the duration of Botox. 

Stewart, however, emphasized AbbVie’s efficiency in maintaining its leading position amidst such challenges, a testament to the company’s strategic positioning in the market.

AbbVie’s acquisition of Allergan in 2020, a deal valued at $63 billion, facilitated its control over the lucrative anti-wrinkle injection market. 

This move fortified its position and provided new growth avenues as the blockbuster rheumatoid arthritis drug Humira faced the loss of exclusivity in the U.S. last year.

Citing Stewart, Reuters highlighted the company’s confidence in the performance of its newer immunology drugs, Skyrizi and Rinvoq, especially in treating inflammatory bowel disease.

Price Action: ABBV shares are up 0.12% at $165.09 premarket on the last check Thursday.

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