The lineup of Allergan products reads like a Hollywood starlet's wish list: Botox, breast implants, Latisse. Last week, the company reported 14% higher quarterly sales, aided by a 16% surge in Botox sales. The company also boosted its full-year sales forecast despite the market's reacting violently to a possible recession and sovereign debt issues. Is Botox really recession-resistant? Can the company manage yet another possible recession?
Despite the recession, the cosmetic procedure industry has continued to grow across the board, with injectables creating a whole new business line in the industry of youthful appearance. But what do patients really get out of these procedures -- and are they worth the money?
A judge has finalized Allergan's $600 million settlement over the misleading marketing of its wrinkle-smoothing Botox medication. The pharmaceutical firm plead guilty to misbranding the product.
Pharmaceutical firm Allergan has settled criminal and civil charges that it promoted Botox for uses the FDA hadn't approved, agreeing to pay $600 million and enter into a "corporate integrity agreement." Allergan also dropped its related First Amendment lawsuit against the FDA.
