Replies to post #228600 on Biotech Values

[DewDiligence]

Re: Botox 4Q19 /comments

Any comments questions or concerns regarding the results?

The 7% YoY growth in US therapeutic sales shows that the recently approved CGRP meds aren’t (yet) detracting much from Botox’s migraine sales, which comprise ~40% of this segment.

The 20% YoY growth in ex-US cosmetic indications is not an aberration, IMO, but rather an indication of the vast untapped market: #msg-119792298. However, Botox sales in China may plateau or see a downturn in 2020 on account of the coronavirus outbreak.

All told, the 4Q19 Botox numbers looks great and are bullish for RVNC.

[DewDiligence]

Re: Botox market share

…what percentage of the total neurotoxin market Botox captures both in US and RoW?

About 80% in the US and most of the world, but a somewhat lower percentage in China, where there are many knockoff brands.