Biotech Values

[DewDiligence]

Botox/Dysport info from AGN’s 1Q10 CC:

1. Dysport’s 1Q10 US market share: 13-14% in cosmetic indications, and a negligible % in therapeutic indications (due, in part, to delays in Ipsen’s obtaining reimbursement).

2. Worldwide 1Q10 Botox sales were $331M, +7% year-over-year in local currencies (+11% in dollars). This is the first quarter since the onset of the global recession where year-over-year sales grew briskly. (Quarter-over-quarter comparisons are less meaningful for Botox due to seasonality.)

3. Botox’s worldwide market share in all indications in 4Q09 (the most recent quarter for which data are available) was 79%. Dysport, Merz’s Zeomin, and a smattering of other products split the rest.