Reuters
AbbVie raises annual profit forecast as Botox demand rebounds
Sales of Botox for cosmetic use rose two-fold to $584 million in the second quarter to trounce estimates of $483 million, as vaccinations encouraged people to step out more and resume non-essential procedures after being holed up at home for months. The company grabbed Botox last year as part of its $63 billion purchase of Allergan, a move aimed at cushioning the hit from the looming loss of U.S. patents for the world’s best-selling drug Humira, expected in 2023. Sales of Humira, a treatment for rheumatoid arthritis and which is already facing rivals in Europe, rose 4.8% to $5.07 billion, roughly in line with a Refinitiv IBES estimate of $5.08 billion.