The Food and Drug Administration's additional approval of the wrinkle-smoothing injection Botox as a treatment for migraine headaches should prove to be a "watershed" moment for Allergan Inc.'s revenue and earnings growth, according to a William Blair & Co. analyst.
Ben Andrew said in a Monday morning research note that the new use could be worth $1 billion to Allergan's top line within five years, BusinessWeek reports.
Side effects reported included neck pain and--wait for it--headache. The FDA has ordered a "black box" warning on Botox packaging advising consumers that its active agent can migrate to other parts of the body, causing life-threatening reactions. But the agency said Friday that there has not been a confirmed case of such migration in cases in which Botox was used at recommended doses.
Friday's decision by FDA marks a major step in the march of Botox toward ubiquity. Since its introduction to the market as a cosmetic product, Botox has become a popular, but niche, medical product favored by aging baby boomers and movie actors (its powers of facial paralysis have been blamed for causing a dramatic decline in the quality of acting on the big-screen).
Botox has also won FDA approval as a treatment for excessive sweating and for involuntary spasms of the cervix and eyelids. Its use as a migraine treatment is likely to bring it into primary-care offices everywhere, Los Angeles Times informs.
The Investigative Committee of the Russian Federation put the head of the contractor company of Russia's space corporation Roskosmos, Sergei Slastikhin, on international wanted list
"Washington operators of the sanctions machine ought to get acquainted with the history of Russia, to stop the unnecessary fussing," spokesperson for the Foreign Ministry said