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- Allergan Inc. has moved its eyelash treatment into the second clinical stage of testing as a therapy for baldness and expects to see data by the middle of next year, Chief Executive Officer David Pyott said.
- The product, Latisse, was approved in 2008 to aid in eyelash growth, and generated $82 million last year for the Irvine, California-based company.
- Allergan is currently testing Latisse for men and women against placebo.
- The tests follow a business model Allergan successfully implemented with Botox, its top-selling product with $1.42 billion in revenue last year.
- Latisse is a version of Allergans glaucoma drug Lumigan, which was found to stimulate lash growth as a side effect of therapeutic treatment.
- The docs used to start laughing, because there are patients luckily that only have glaucoma in one eye and so theyd come in and say, Doc Ive got these beautiful eyelashes over here, what should I do? Pyott said today during an interview in New York.
- Latisse may gain up to an additional $200 million to $500 million in annual sales by 2020 if its proven to spur hair growth, estimated Ronny Gal, an analyst with Sanford C. Bernstein & Co. in New York.
- The product is designed to work similarly to other hair-loss therapies such as Johnson & Johnsons Rogaine, said Gal, who recommends buying Allergan shares.
- Allergan won approval last month for the use of Botox as a therapy for urinary incontinence, and in October as a treatment for chronic migraine headaches. The company estimates the product will produce $1.55 billion to $1.59 billion in revenue this year, and foresees about $100 million in sales from Latisse
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