AbbVie answers Allergan aesthetics worries with separate new unit
Allergan Aesthetics will market products such as cosmetic Botox, Juvederm and Coolsculpting. (Allergan)
With AbbVie and Allergan working out the fine print of their $63 billion merger, the future of Allergan's aesthetics business has been a sticking point for analysts worried about a drag on the new company's bottom line. In response, AbbVie came up with a solution: Just keep the aesthetics business separate.
AbbVie will launch Allergan Aesthetics, a global subsidiary under the umbrella of the AbbVie-Allergan merger, once the deal hits its expected close in the first quarter, AbbVie said in a release. The business will market cosmetic Botox as well as dermal filler Juvederm, the Coolsculpting platform, chin-fat-fighter Kybella and more.
Allergan's other products, including medical Botox and Vraylar, will be integrated into the new merger, AbbVie said.
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Carrie Strom, Allergan's current SVP of U.S. medical aesthetics, will head up Allergan Aesthetics, and she'll also take the role of senior VP at AbbVie, the company said.