Replies to post #205635 on Biotech Values

[DewDiligence]

AGN announces $10B buyback authorization—and first-ever dividend (starting in 2017):

http://finance.yahoo.com/news/allergan-announces-10-billion-accelerated-103000839.html

The $10B buyback is in addition to the previously announced, completed $5B buyback; $8B of the $10B is expected to be completed during Nov 2016.

The first-ever dividend will be $0.70/sh per quarter, beginning in 1Q17.

[DewDiligence]

Additional granularity on 3Q16 Botox sales:

Worldwide sales of $690M were 72% US, 28% ex-US.

Of the US sales, 62% were for medical indications and 38% for cosmetic indications.

The breakdown of ex-US sales was the reverse: 40% for medical indications and 60% for cosmetic indications.

In all geographies, Botox's patient share in cosmetic indications is much greater than its dollar share in cosmetic indications because cosmetic indications use much less toxin per patient than medical indications.