Replies to post #244339 on Biotech Values

[jbog]

AbbVie says seeing slowdown in aesthetic procedures due to inflation

09:08 ABBV
Expects this slowdown to persist into 2023 until consumer confidence improves.
conference call.

Read more at:
https://thefly.com/n.php?id=3605168

[DewDiligence]

4Q22 worldwide Botox sales=$1.37B, +2% QoQ, +5% YoY:

https://news.abbvie.com/news/press-releases/abbvie-reports-full-year-and-fourth-quarter-2022-financial-results.htm

• US therapeutic: $614M (+5% QoQ, +10% YoY)
• US cosmetic: $422M (+14% QoQ*, +6% YoY)
--
US total: $1.033B (59% therapeutic; 41% cosmetic) was 76% of worldwide total


• Ex-US therapeutic: $114M‡ (-1% QoQ, +16% YoY†)
• Ex-US cosmetic: $220M‡ (-18% QoQ, +8% YoY†)
--
Ex-US total: $334M‡ (34% therapeutic; 66% cosmetic) was 24% of worldwide total.


‡Ex-US sales were adversely affected by the discontinuation of sales in Russia and the (only recently relaxed) COVID lockdown in China.

†Ex-US YoY growth measured in local currency, which eliminates the effect of fluctuating exchange rates.

*In the US market, botulinum-toxin sales for cosmetic indications are seasonally stronger during the second and fourth calendar quarters than the first and third calendar quarters.