Epipen Parent's Faceplant Is a Cautionary Tale for Botox Maker
Allergan could end up in the same place as Mylan if it isn’t careful.
Allergan should get the most out of Botox while it can.
Sources: Bloomberg/Bloomberg
Drugmakers Mylan NV and Allergan Inc. reported first-quarter earnings Tuesday, and their results had something in common: both got panned by investors.
Mylan’s sales missed Wall Street targets and the company offered no update on a strategic review that’s been in progress since August. Its shares plunged 19 percent to their lowest point since 2012. Allergan’s quarter was saved by its blockbuster Botox, which helped the company raise its full-year guidance. But otherwise, sluggish growth and questions about the company’s static strategy saw the firm’s shares fall 5 percent on top of a 23 percent decline over the last 7 months.