Biotech Values

[DewDiligence]

Ipsen’s 4Q10 worldwide Dysport sales were €43.7M ($60M), -16% QoQ, -3% YoY.

The sharp decline from 3Q10 to 4Q10 was presumably due in part to channel destocking. More important, Dysport continues to be a very distant second to Botox, which had worldwide 4Q10 sales of $386M.

After adding in US sales of Dysport for cosmetic indications, which are booked by MRX, Botox is outselling Dysport worldwide by about 4:1.

Source: http://www.ipsen.com/sites/default/files/communiques-financier/PR-Full%20Year%202010%20Sales%20FINAL_0.pdf