Global sales of Botox from Allergan’s Westport manufacturing plant last year decreased by 10.5 per cent to $2.18 billion (€1.93 billion).
That is according to new accounts for Allergan Pharmaceuticals Ireland, which show that the company last year recorded a pre-tax loss of $2.1 billion.
The loss arises from non-cash write-downs of $2.9 billion made up of an amortisation of intangible assets of $1.49 billion, and an impairment of €1.41 billion of intangible assets.
The Westport-based company’s overall revenues declined by 11 per cent to $2.85 billion last year.
The revenues were made up of $2.18 billion in Botox sales and $675 million in eye care products.
The company’s largest market is the US accounting for 71 per cent or $2.02 billion in sales.
The pre-tax loss of $2.1 billion followed pre-tax profits of $232.5 million in 2019.
The loss last year also takes account of net interest payments of $892.5 million.
The company recorded a post-tax loss of $1.83 billion after receiving a corporate tax credit of $265 million.
Part of the Abbvie group, the Westport plant is the group's only Botox manufacturing facility and is one of the Abbvie's largest production sites.
Celebrity customers
Hollywood stars and celebrities including Nicole Kidman, Cameron Diaz, Courteney Cox and Kim Kardashian have all said that they have used Botox, a wrinkle-erasing drug.
Allergan first set up on a greenfield site outside Westport 44 years ago and has provided a bonanza to the Mayo town.
Numbers employed last year increased from 1,279 to 1,316 and staff costs totalled $107 million – an increase of $13.65 million on the 2019 total of $94.11 million.
The directors state that the company has major capital projects in progress to expand its production capability and to strategically position its manufacturing facility for the introduction of new products.
At the end of December 2020, shareholder funds totalled $5.6 billion. Abbvie’s $63 billion purchase of the Allergan group was completed last year.
