Last week, we took a look at Irvine-based Allergan Inc.’s core eye drug business and how it’s grown and thrived in the shadow cast by the drug maker’s “sexy” medical cosmetic products.
Those cosmetic products,breast implants, a wrinkle smoother and an obesity treatment,are doing “spectacular,” Chief Executive David Pyott said.
They came by way of Allergan’s $3.2 billion buy of Santa Barbara-based Inamed Corp. in early 2006. First-quarter sales of the three products were up 55% from a year earlier under Inamed, Pyott said.
Sales of silicone breast implants were $69 million in the quarter, up 34% from a year earlier, thanks in part to regulators in November clearing the implants for use in the U.S. after 15 years.
“So you can see the benefits of silicone and regained market share coming through,” Pyott said.
Dermal filler sales, which include Inamed’s Juv & #233;derm, were $43 million, up 94% from a year earlier.
Sales of Allergan’s obesity fighter, the Lap-Band stomach banding system, were $53 million in the quarter, up 62%.
“You can’t get much better than that, right?” Pyott asked. “I think this is basically a setup for another really, really strong year. At Allergan Medical, we’re just beginning to gain traction.”
The company started its Allergan Medical unit last fall as part of the Inamed integration. It’s led by Robert Grant, former chief executive of Irvine’s BioLase Technology Inc.
“Basically, just about every business in the company is going really, really strongly,” Pyott said.
In related news, Allergan signed actress Virginia Madsen, a 45-year-old Oscar nominee for her work in “Sideways” to take part in a campaign called “Keep the Wisdom. Lose the Lines.”
The campaign is designed to answer questions women have about injectable treatments such as Allergan’s Botox Cosmetic for the upper part of the face and Juv & #233;derm for the lower part of the face.
Madsen, who’s had Botox and Juv & #233;derm treatments, is joined in the campaign by mother Elaine Madsen, a 74-year-old documentary filmmaker.
Edwards Sues Rival
Orange County’s heart valve Goliath is taking a local David to court.
Irvine-based Edwards Lifesciences Corp. said earlier this month that its subsidiary working on a new type of heart valve filed suit against rival CoreValve Inc. of Irvine for alleged patent infringement.
Edwards, which is developing a heart valve that doesn’t require major surgery, charges that CoreValve infringed a patent for transcatheter heart valve technology.
The patent is co-owned by a Danish physician and his colleagues.
Edwards has an exclusive sublicense.
Chief Executive Michael Mussallem said in a release that Edwards “is committed to protecting our valuable intellectual property,” but is opening talks with CoreValve, which moved its corporate offices to Irvine from France last year.
Rob Michiels, CoreValve’s president and chief operating officer, held several global sales and marketing jobs with Edwards back when it was Baxter International Inc.’s heart valve unit.
In a release, CoreValve said it believed the lawsuit was without merit, “and the company intends to vigorously defend its own intellectual property and its rights to continue to develop and clinically evaluate its proprietary ReValving (system).”
Separately, Edwards presented clinical study results of its Myxo ETlogix annuloplasty ring at a meeting of the American Association for Thoracic Surgery.
The results showed that the ring reduced mitral regurgitation, a disorder in which blood leaks backward, causing the heart to work harder and potentially leading to heart failure.
Edwards also said it launched its Perimount Magna Ease aortic heart replacement valve in Europe.
Regulatory Setback
A couple of weeks ago, we wrote about the stock run-up of IDM Pharma Inc., an Irvine drug maker that was awaiting word from the Food and Drug Administration on its bone cancer drug candidate.
Well, word came, and IDM gave back a big part of its gain earlier this month after regulators recommended against approving the drug.
IDM saw its shares close down 30% on May 9 after a FDA panel recommended against approving Junovan, its bone cancer drug.
IDM saw its stock spike in early April, rising 167% after news that the drug maker was going to meet with regulators.
The company, which still is in the development stage, counted a market value of $50 million at recent check.
The regulatory panel said results of a third-phase clinical trial didn’t show substantial evidence that Junovan is effective in treating osteosarcoma bone cancer patients receiving chemotherapy.
The agency typically follows the recommendations of its advisory committees when reviewing drugs for approval.
IDM Pharma, in a statement, said it expects a decision in August.
