Allergan to rely less on U.S. for sales, Asia key
03.02.2012(Reuters) - Allergan Inc, constructor of wrinkle treatment Botox, eye drops and corpulency treatments, said it will rely in a ~ degree on the United States for reward in coming years as its products bring over wider acceptance in Asia, particularly China.
The firm on Thursday announced 6.4 percent proceeds growth for the fourth-quarter of last year, but forecast lower-than-anticipated sales on account of 2012 as austerity measures in Europe take care of a lid on demand and battalion the company to hold down prices.
Ian Bell, corporate vice-president and president for Asia-Pacific, was upbeat without interrupti~ growth prospects across Asia, with China appearing to subsist the main driver.
Bell told Reuters in one interview that cosmetic clinics were popping up in self-conceited hospitals in major Chinese cities, presenting an opportunities for Allergan's aesthetics products.
He afore~ sales of Botox for aesthetic employment in China in 2011 were encouraging and Allergan was trialling its hide filler Juvederm, hoping to make it profitable in China in 2-3 years.
"China is going to grow very quickly over the next decade. We are starting more or less late; Botox was only approved above a year ago and therefore levels of penetration are low," he said.
"We be delivered of a big part of our portfolio that is individually paid, where healthcare reform is travelling out of the record," said Bell, referring to China's healthcare restructuring targeted at workmanship more cheap drugs widely available.
"DOUBLE-DIGIT GROWTH"
Sales in Asia-Pacific grew 27 percent year on year in the third quarter of 2011, by "double-digit growth in Q4," said an Allergan spokeswoman in Singapore.
"(Sales are) 60 percent the U.S. and 40 percent the rest of the creation. The rest of the world is augmenting quicker than the U.S. proper now and within those markets, Asia-Pacific is the fastest expanding for us," said Bell. "We escort the trend continuing ... and as during the term of those percentages and our reliance attached the U.S., we believe that from one side of to the other time it is going to abate."
Allergan obtained approvals in Asia in 2011 to use Botox to treat chronic migraines in Australia, Hong Kong, India, Malaysia, New Zealand, South Korea and Vietnam.
"The biggest mart is Australia and we are at present in negotiations with the authorities in that place to get it reimbursed. We sense of possible fulfilment to achieve that this year, so by end of 2012 we look for to be in a strong locality to drive sales," Bell said.
(Reporting ~ the agency of Tan Ee Lyn in SINGAPORE; Editing through Chris Lewis)
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