Replies to post #141170 on Biotech Values

[DewDiligence]

AGN maintained its 2012 revenue guidance and its 2012 non-GAAP EPS guidance of $4.13-4.19 issued three months ago; one reason the share price is down 4% today is that AGN did not raise the full-year guidance as it has often done after a quarter or two in prior years.

[DewDiligence]

Why AGN hasn’t seen sales tank in Southern Europe as much as most drug companies:

http://www.ft.com/intl/cms/s/0/59a2dd3a-94a1-11e1-8e90-00144feab49a.html

“In southern Europe, people spend a higher proportion of their income on appearance and lifestyle,” [CEO] Mr Pyott told the Financial Times. “They are happy to live in a modest apartment and look good facially and body-wise when they go out.”

Pyott is a straight shooter, IMO, so there’s probably a lot of truth to this soundbite.

[DewDiligence]

1Q12 Botox vs Dysport worldwide sales in all indications…

• Botox: $415M, +7% YoY (http://finance.yahoo.com/news/allergan-4q-profit-climbs-6-192546492.html ).

• Dysport: $76M (€57.4M), +14% YoY (http://finance.yahoo.com/news/ipsens-first-quarter-2012-sales-050000770.html ). The above figures includes Ipsen’s sales of Dysport to MRX for the US cosmetic market and sales of Azzalure (an alias of Dysport) to Galderma for the European cosmetic market.

Thus, Botox had an 85% worldwide share of Botox+Dysport sales in 1Q12, which is consistent with AGN’s claim that Botox had a 76% overall share of the worldwide market for botulinum toxins in 4Q11 (#msg-75107630).