Actavis spent $66 billion to acquire Allergan, the company that makes Botox, last year. Actavis just released its financial statistics for the first quarter, showing off a huge spike in revenue. Bidness states, “The largest contributor towards the Irish company’s skyrocketing sales has been its acquisition of the Botox maker; Allergan, Inc.” This acquisition was finalized only two months ago.
According to reports, Actavis’ purchase of Botox was the company’s largest acquisition to date. Actavis forecasts higher annual revenue with the launch of the Botox medication. Actavis, thanks to its recent purchase of Botox, is now “one of the leading pharma companies in the world,” as Bidness puts it. Botox can be used for a wide variety of medical and cosmetic purposes, including the treatment of wrinkles, the prevention of involuntary twitching, the regulation of bladder function, and more.
Millions of Botox injections were administered in the United States in 2014. This makes it the most popular nonsurgical therapy in the country. Given its lack of invasiveness, no recovery time is necessary. This is only one of the many benefits of using Botox to combat the signs of aging. Botox, however, was initially licensed by the FDA in 1989 to treat eye muscle abnormalities, long before it was used for cosmetic purposes. Over time, it gained FDA approval for use in a wide variety of anti-aging applications.