Hello olegus88,
Thanks for your question.
I was not able to find a definitive valuation of Lapband. I have
instead found the percentage of sales that they compose for Inamed.
If it is valued by its percentage of sales in the past few years, it
would be worth about $864 million of the $3.2 billion. However,
because sales of Lap-Band are only expected to grow, it could have
been valued at a higher price and $1 billion does not seem like an
off-the-wall number.
According to reports, most of Inamed's revenues actually come from
breast implants, which accounted for 55% of revenues in 2003 and 56%
in 2004.
Shareholder.com Chat with Allergan
http://www.shareholder.com/AGN/downloads/051115agn_transcript.pdf
"Turning to who is Inamed, this is a company with estimated revenues
of approximately 440, $450
million this year. 56% of business is breast anesthetics, 17% facial
anesthetics, and 27% obesity
intervention. Clearly, they are a global leader in dermatology and
plastic surgery, where
particularly their strength lies on the plastic surgery side."
At 27% of sales, Lap-Band is a large proportion but not nearly the
majority; the company's plastic surgery components are worth far more
in current sales. However, the obesity market is growing faster than
the plastic surgery market (30% vs. 25% according to the above chat)
and so it is not too far-fetched that Lap-Band is worth $1 billion to
Allergan.
I found one source for the $1 billion figure.
Scientific Intake
http://www.scientificintake.com/sintake/index.html
"The Gastric Lap Band was recently valued at over $1 billion in the
Allergan acquisition of Inamed."
2001--
LapBand is approved and garners $24 million in sales.
2003--
Pharmaceutical Business Review-- Inamed
http://www.pharmaceutical-business-review.com/companyprofile.asp?guid=5BC43B78-4DD2-4176-95E2-A515CF440D42&CType=View
"On the financial front, in 2003, Inamed's sales of $332.6 million and
net income of $53.0 million generated sustained cash flow during the
year and increased financial flexibility for the company."
2004--
Boston Globe
"Medicis to buy Inamed"
http://www.boston.com/business/articles/2005/03/22/medicis_to_buy_inamed/
"Santa Barbara, Calif.-based Inamed reported revenue of $384.4 million."
LapBand-- ~$56.5 million
2005:
Medical Marketing Association Award
http://www.mmanet.org/news/news_details.cfm?key=16
LapBand $95 million
Sources:
USA Today
"Medicis tightens face of vanity race with $2.8 billion bid for Inamed"
http://www.keepmedia.com/pubs/USATODAY/2005/03/22/780648?ba=a&bi=5&bp=24
Search terms:
lap band sales million
inamed revenues million
lap band sales 2005
If you need any additional clarification, let me know and I'll be glad
to assist you.
--keystroke-ga |
