As reported by Reuters, the FDA (The Food & Drug Administration) has approved Allergan’s Botox treatment for migraines. This could lead to an impressive $1 billion boost to the speciality pharma company’s sales.
Allergan is confident that the Botox will conquer much of the migraine market and is already looking into other medical uses for the product such as treatment for an overactive bladder. EVP Scott Whitcup stated, “People still think about it as a cosmetic product, but the therapeutic indications in the next five years will far surpass its cosmetic use.”
The new treatment is designed specifically for patients who suffer chronic migraines (15 or more days of migraine per month) which amounts to 3.2 million people in the US alone.
Botox, which works by paralysing certain muscles is one of Allergan’s top drugs and accounted for more than $1.3 billion of the company’s $4.4 billion sales last year.