Biotech Values

[DewDiligence]

Re: Breast implants and facial aesthetics

60 is supposedly the “new 40,” but it does seem rather late to be getting breast implants. By that age, you would think someone would have already acted or else decided she was content with what she had.

By comparison, the stated target market for Botox and dermal fillers is women age 35-55 in households earning $75k+. Since Botox and dermal fillers are low-ticket procedures with a near-zero risk of a screw-up, I think the stated upper age limit of 55 is much too low. These procedures also have a sizable addressable market for men.

In other words, I think facial-aesthetics is a much better business to be invested in than breast implants. However, of the main players in facial aesthetics (excluding the laser companies), only BFRM, ARTE, and THRM are pure plays. I’ve posted extensively during the past two years about ARTE and THRM being losers, so I won’t bother to repeat that here. BFRM is a company I’m still looking at, although I was disappointed in their presentation at JPM.