Irvine, Calif. — Sales of Botox (onabotulinumtoxinA, Allergan) climbed 16 percent in second quarter 2011 compared to the previous year, the company announced.
Revenues from sales of the drug reached $418 million, exceeding the average forecast of $397.6 million of seven analysts, the Los Angeles Times reports.
The Times quotes Gary Nachman, a senior analyst at Susquehanna International Group in New York, as saying that Botox has managed to overcome the kinds of challenges a weak economy usually presents to sales of cosmetic drugs.
“The aesthetic market has been very strong despite a challenging economy,” Mr. Nachman told the Times. “Your existing patient base won’t go away. They may time the procedures a little differently, but once they get used to looking younger, they don’t want to change that."
Allergan’s second-quarter profit rose 2.7 percent, and net income increased to $246.6 million from $240.1 million the previous year, according to the earnings report. Sales rose to $1.42 billion from $1.25 billion in 2010.
