Aesthetics Market Resilience: AbbVie Asserts Widely Used Botox Dominance Amidst Rising Competition
Portfolio Pulse from Vandana Singh
AbbVie Inc (NYSE:ABBV) maintains a strong position in the aesthetics market with a 68% share of Botox sales, despite competition and calls for stronger FDA warnings on botulinum toxin products. At the J.P. Morgan healthcare conference, CCO Jeffrey Stewart expressed confidence in Botox's market resilience. AbbVie's acquisition of Allergan in 2020 bolstered its market dominance, especially as its drug Humira lost exclusivity. The company also sees potential in its newer drugs, Skyrizi and Rinvoq. Revance Therapeutics Inc (NASDAQ:RVNC) and Evolus Inc (NASDAQ:EOLS) are emerging competitors with products like Daxxify and Jeuveau.
January 11, 2024 | 1:31 pm
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NEUTRAL IMPACT
Evolus Inc's Jeuveau competes in the aesthetics market with AbbVie's Botox, which could influence EOLS's market share and stock performance.
Evolus's presence in the market with Jeuveau adds to the competitive landscape, but AbbVie's dominance with Botox may mitigate the short-term impact on EOLS's stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Revance Therapeutics Inc's Daxxify, with its longer-lasting effects, poses competition to AbbVie's Botox, potentially impacting RVNC's market position.
Revance's Daxxify could capture market share from AbbVie's Botox due to its longer duration, but AbbVie's strong market presence may limit RVNC's short-term impact.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
AbbVie's Botox continues to dominate the aesthetics market with a 68% share, and the company is confident in its market position and newer drugs despite competition and regulatory challenges.
AbbVie's strong market share and strategic positioning, along with the potential of new drugs, suggest a positive short-term impact on ABBV's stock price. However, regulatory challenges and competition could pose risks.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100