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Botox Makers Agree To Pay $600 Million Penalty For Off-Label Use
It was first approved in the US 20 years ago for the treatment of eye muscle disorders.
The global settlement concludes a two-and-a-half year investigation that some analysts have said has held up FDA approval for treatment of migraines. Botox, already Allergan’s top product with $1.3 billion in annual sales, may generate an additional $1 billion with use in migraines, according to Aaron Gal, an analyst at Sanford C. Bernstein & Co. in New York.
“The resolution removes an overhang/concern for investors,” Larry Biegelsen, an analyst at Wells Fargo Securities in New York, said in a note to clients today. “The $600 million settlement amount appears reasonable based on industry standards.”
Source-Medindia
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