Biotech Values

[DewDiligence]

Allergan stands to boost sales from the added use, partly because the doses used for treating migraines are much higher than for cosmetic use, Davis said. Smoothing a brow takes about 25 units of the drug; migraines require 200 or more.

This assertion by sell-side analyst Corey Davis is somewhat misleading. Unless a patient gets Botox from a high-volume injector who treats several patients closely spaced in time, a patient generally has to pay for a full 100-IU vial even if only 25 IU’s are needed for treatment. Once reconstituted, Botox has to be injected within about four hours or it loses its potency.