AbbVie expects Botox market share to stay strong despite newer rivals (updated)

Evolus

10/01/2024 17:12

(Adds background on rivals in paragraphs 2 and 4, shares in
paragraph 5)
       Jan 10 (Reuters) - AbbVie  ABBV.N  expects its share of
Botox in the aesthetics market to remain strong in the fourth
quarter, despite recent launches of newer, longer-acting
products by rivals, a company executive said on Wednesday.
    Botox, especially for aesthetic use, has been under pressure
in the last few quarters due to economic uncertainties, with the
pharma major's investors also concerned about its product facing
an eroding market share because of competition from newer rivals
like Revance Therapeutics'  RVNC.O  Daxxify and Evolus's
 EOLS.O  Jeuveau.
    "We've been incredibly efficient at maintaining our leading
share position of about 68%," AbbVie's Chief Commercial Officer
Jeffrey Stewart said at the J.P.Morgan healthcare conference.
    Revance's Daxxify has been of particular concern to AbbVie's
investors because its effects last about six months - nearly
twice as long as Botox.
        Shares of AbbVie were up more than 1% in afternoon
trade.
  

 (Reporting by Leroy Leo and Pratik Jain in Bengaluru; Editing
by Pooja Desai)
 ((Leroy.Dsouza@thomsonreuters.com ; https://twitter.com/LeroyLeo7;))