Botox Faces Upcoming Competition
Up until now, Botox has been the only FDA approved antiwrinkle therapy and reportedly made more than $1 billion in sales world-wide last year. According to the American Society for Plastic Surgeons, Botox shots are the most-frequently performed cosmetic procedure and an estimated four million Americans received the injections in 2006 alone. However, a new antiwrinkle method is quickly sneaking its way into our cosmetic world and researchers say that the maker’s of Botox, Allergan Inc., should be prepared for their competition.
New Way to Fight Wrinkles
Reports claim that Medicis Pharmaceutical Corp., is getting ready to submit an application to the FDA to get their antiwrinkle product, Reloxin, approved. Doctors are estimating that it may be less than a year until Botox’s competition starts showing up in dermatologists’ offices.
Physicians are hoping that Reloxin will be better priced than Botox, whose price is continuing to rise.
“Many dermatologists and cosmetic surgeons are excited about the possibilities for a lower-priced form of botulinum toxin,� says Joel Schlessinger, a dermatologist in Nebraska.
As of now, patients are paying an estimated $500 for Botox injections, which reportedly last for about four months.
Reloxin Trial Conducted
At a recent dermatology meeting in Las Vegas, Dr. Schlessinger spoke about Reloxin to a trial of 300 patients who were assigned to receive either the drug or a placebo. The most common side effect the researchers found with Reloxin was headaches, which reportedly affected 11 percent of the patients.
“Botox is more of a household name than Restylane but, we’re in the middle of a vanity boom so all of the companies involved should win,� says David Steinberg, an analyst at Deutsche Bank AG.
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