• US therapeutic: $395.8M (-1% YoY, -15% QoQ*) • US cosmetic: $212.7M (-7% YoY, -22% QoQ*) -- US total: $608.5M (65% therapeutic; 35% cosmetic) was 75% of worldwide total
• Ex-US therapeutic: $89.3M (-1% YoY, -13% QoQ*) • Ex-US cosmetic: $114.4M (-21% YoY, -37% QoQ*) -- Ex-US total: $203.7M (44% therapeutic; 56% cosmetic) was 25% of worldwide total
Some of the softness in the 1Q20 numbers—especially in the aesthetic segment—goes beyond what can be attributed solely to COVID-19 and normal seasonality. My thesis is that some of AGN’s best Botox sales reps opted to depart rather than stay on with ABBV.
*Botox sales are seasonally stronger in the second and fourth calendar quarters than in the first and third quarters.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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