AbbVie expands in the medical aesthetics market

Article Excerpt

We continue to see attractive investment opportunities for our subscribers in top drug stocks—and that includes AbbVie Inc. Meanwhile, the company is also a major player in medical aesthetics—a profitable niche between the beauty industry and plastic surgery. ABBVIE INC., $115.53, (New York symbol ABBV; TSINetwork Rating: Above Average) (Shares o/s: 1.8 billion; Market cap: $204.6 billion; Yield: 4.5%) paid $64.1 billion in May 2020 for Allergan, a global leader in medical aesthetics, women’s health, and eye care. Allergan is best known for Botox. Now, to expand its Allergan unit, AbbVie is buying Solitron, a Houston-based tattoo removal and cellulite-reduction company. The purchase price is $550 million. Soliton’s RESONIC, or Rapid Acoustic Pulse device, recently received U.S. Food and Drug Administration (FDA) clearance as a non-invasive treatment for short-term improvement in the appearance of cellulite. Meanwhile, treatment with RESONIC has led to 75% greater fading of tattoos in as few as three sessions. The acquisition of Soliton expands and complements Allergan’s existing Body Contouring…

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