DUBLIN, Sept. 14, 2018 /PRNewswire/ -- Allergan plc (NYSE: AGN) today hosted its first ever Medical Aesthetics Analyst Day where the Company outlined its industry-leading portfolio and pipeline and key initiatives to drive future growth, as well as presented an overview of the global medical aesthetics market.
"Since the first introduction of BOTOX® Cosmetic in 2002, Allergan has been a pioneer in creating the Medical Aesthetics market. Today the Medical Aesthetics market is on the cusp of a new era of extraordinary growth and Allergan is uniquely positioned to build on its leadership position and double our medical aesthetic business by 2025. Allergan consistently delivers unparalleled innovation across our extensive Medical Aesthetics portfolio and pipeline, along with superior provider experience and service," said Brent Saunders, Chairman and CEO of Allergan.
Business Has Potential to Double by 2025
Allergan's Medical Aesthetics business – a comprehensive portfolio of facial aesthetics, body contouring and plastic and regenerative medicine products – is expected to grow at an 8-10 percent CAGR from 2017 to 2025. The business could generate net sales of approximately $7 to $8 billion in 2025 from $3.8 billion in 2017.
Allergan to Leverage Dynamics in the Medical Aesthetics Market
The Medical Aesthetic market, in the U.S. and globally, is poised for significant growth, according to the Allergan Business Analytics and Allergan 2016 Global Beauty Trends Report. The expected growth is due to a number of compelling factors such as:
- Attitudes and perceptions are evolving, with 65 percent of respondents to the Allergan Global Beauty Survey saying that aesthetic treatments have become more socially acceptable than 5 years ago. 71 percent are worried about wrinkles, while 41 percent are considering medical aesthetic treatments.
- Approximately 65 million U.S. consumers and 153 million internationally are currently considering facial injectable treatments. Compared with the 4.2 million in the U.S. and the 10.5 million internationally who have had a treatment, only 6 to 7 percent of considerers have been moved to act.
- Millennials aesthetic users have more than tripled in the U.S. during the last four years – at a rate that outpaces both Baby Boomers and Gen X'ers – with over one million expected in 2018.
- Digital and social media is enabling the flow of information and cultivating the "selfie-generation" as evidenced by the 50 million Google searches for Medical Aesthetics-related topics and the 3.3 million #botox posts on Instagram.
- The number of providers worldwide has increased 40 percent from 2012 to 2017, resulting in a greater access to consultations and treatments.
One-to-Two Product Launches Per Year Designed to Fuel Allergan's Growth
Allergan's best-in-class Medical Aesthetics R&D team expects to invest more than $1 billion on Medical Aesthetics innovation through 2025 and expects to introduce one or two new products each year between 2018 and 2025.
- Allergan will continue leadership with BOTOX® Cosmetic by seeking three new indications; treatment of the masseter muscle and platysma prominence, and skin quality. Allergan will also develop a new BOTOX® Cosmetic delivery configuration in pre-filled syringes.
- Allergan announced results of a higher dose BOTOX® Cosmetic study for the treatment of moderate to severe glabellar lines. The study met its primary endpoint confirming long-held belief that higher doses of botulinum toxin produce greater duration of treatment effect. Approximately one third of patients in higher dose BOTOX® Cosmetic group were considered responders at 24 weeks.
- Allergan agreed to acquire Bonti (subject to certain closing conditions) to add rapid acting short duration botulinum neurotoxin serotype E toxin programs to the R&D pipeline and to help unlock demand from consumers who are first-time considerers of medical aesthetics and who are looking for on demand treatment.
- Allergan is developing a liquid formulation of a novel neurotoxin, nivobotulinumtoxinA, and plans to initiate development for glabellar lines and crow's feet lines.
- Allergan's JUVÉDERM® franchise will expand to include treatments in development for the temple, tear trough, nose and fine lines in the upper face, as well as lower facial shaping for the jawline, chin, neck lines and décolletage.
- New topline data was presented on the use of TE-HA, the hydrogel containing recombinant tropoelastin, gained as part of Allergan's acquisition of Elastagen, for the treatment of adult patients with acne scars. At 6 months, 21 of 27 (78%) patients reported improvements in acne scar appearance. TE-HA also demonstrated significant reduction in acne scar depth and volume compared to the control group.
- CoolSculpting® is transforming into full face and body contouring solutions with three breakthrough platforms expected in the next three years including muscle conditioning, skin tightening and cellulite.
- Plastic and Regenerative Medicine is continuing to develop solutions for both the reconstruction and cosmetic settings with further development of ARTIA™ in breast reconstruction surgery and development of novel high-volume body fillers.
- Allergan R&D is currently reviewing multiple areas of unmet need, including skin quality, skin tightening, cellulite and hair loss.
"Allergan will continue driving innovation in Medical Aesthetics into new frontiers, and the impact for patients will be profound," said David Nicholson, Allergan Chief R&D Officer. "We have a best-in-class R&D operation that is fully integrated globally and across pharma, device and regenerative medicine. Allergan is excited about the potential for delivering even more advanced innovation to patients across facial aesthetics, body contouring and regenerative medicine in the years to come."
Sales Force, Marketing and Support for Providers to Expand
Allergan intends to increase the size of the U.S. Facial Aesthetics sales force by 20 percent to increase service levels and drive the expansion of the Company's reach by approximately 5,000 practices and enable our representatives to spend twice as much time with our top customers.
New ad campaigns for BOTOX® Cosmetic and JUVÉDERM® will launch in the fourth quarter of 2018, kicking-off Allergan's plan to double the Company's investment in consumer marketing. The campaigns and the related promotional efforts will heighten awareness with consumers, provide branded information and remove some common barriers to treatment.
Increasing Training of Medical Aesthetics Providers to Meet Demand for Medical Aesthetic Procedures and Improve Outcomes
Through the Allergan Medical Institute, Allergan trains more Medical Aesthetics practitioners in the appropriate use and mastery of Medical Aesthetic products than all the aesthetic companies combined. And, in 2019 Allergan expects to substantially increase its training of Medical Aesthetics providers to reach 80,000 providers globally.
Major Geographical Expansion Planned in Asia Pacific/Middle East Africa
- In China, Allergan expects to double its Medical Aesthetics team by 2025 in order to maximize the growth potential from the rapidly expanding market. Allergan also expects to triple the number of Medical Aesthetics accounts and injectors trained each year in China by 2025, with revenue on key products rising as a result.
- Allergan plans to expand its opportunity beyond China by capitalizing on market growth in Asia and the Middle East, with countries like India, Indonesia and Vietnam being among the most rapidly growing population centers and marketplaces globally.
"We truly have a unique opportunity in medical aesthetics. Demand for products and services is on the rise around the world due to the skill, dedication and commitment of aesthetics providers. The best years in this field are ahead of us," said Bill Meury, Allergan Chief Commercial Officer. "Allergan is fully committed to serving its customers by introducing innovative products and technologies, providing the highest quality professional training, and educating consumers. We are privileged to be a part of the medical aesthetics community and look forward to partnering with practitioners for years to come."
Strategic Partnerships and Key Initiatives are Key to Further Growth
- Allergan and Alibaba's healthcare platform AliHealth announced a strategic partnership in which the companies will launch a medical aesthetics consumer education and consultation platform for the Chinese market. The partnership is designed to further guide Chinese consumers to choose qualified medical aesthetics hospitals, doctors and products when pursuing treatment.
- Allergan announced the launch of Spotlyte™ – an unbranded innovative digital hub of curated content that helps consumers discover how medical aesthetic treatments may fit into their routines. Through well-researched content, product reviews and insider profiles, together with the latest beauty news and trends, the site functions as a holistic and informative lens into these worlds. Spotlyte™ will also provide access to a team of trained specialists ready to offer real-time support and chat directly with anyone considering medical aesthetic treatments, as well as help connect readers to local licensed providers.
- Allergan also announced its intent to form a collaboration with HintMD, a subscription-based service administered through Medical Aesthetics practices, to decrease barriers to patient acceptance of Medical Aesthetics treatments.
About Allergan plc
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical leader. Allergan is focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world.
Allergan markets a portfolio of leading brands and best-in-class products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology and anti-infective therapeutic categories.
Allergan is an industry leader in Open Science, a model of research and development, which defines our approach to identifying and developing game-changing ideas and innovation for better patient care. With this approach, Allergan has built one of the broadest development pipelines in the pharmaceutical industry.
Allergan's success is powered by our global colleagues' commitment to being Bold for Life. Together, we build bridges, power ideas, act fast and drive results for our customers and patients around the world by always doing what is right.
With commercial operations in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives every day.
For more information, visit Allergan's website at www.Allergan.com.
Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Allergan's current perspective on existing trends and information as of the date of this release. Actual results may differ materially from Allergan's current expectations depending upon a number of factors affecting Allergan's business. These factors include, among others, our ability to successfully develop and commercialize new products; the difficulty of predicting the timing or outcome of regulatory approvals or actions, if any; the impact of competitive products and pricing; market growth and market acceptance of and continued demand for Allergan's products; the impact of uncertainty around timing of generic entry related to key products on our financial results; risks associated with acquisitions, mergers and joint ventures; uncertainty associated with financial projections, projected synergies, restructurings and increased costs; difficulties or delays in manufacturing; and other risks and uncertainties detailed in Allergan's periodic public filings with the Securities and Exchange Commission, including but not limited to Allergan's Annual Report on Form 10-K for the year ended December 31, 2017 and Allergan's Quarterly Report on Form 10-Q for the period ended June 30, 2018. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.
SOURCE Allergan plc