Allergan Q3 2009 Earnings Call Transcript

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2009-10-29 16:30:24.0

Tags: Call Transcript, Allergan Inc., Earnings, Glaucoma, Research & Development, Corporate Governance, Business Operations, Corporate Law, Seeking Alpha

Question-and-Answer Session

Operator

Thank you. (Operator Instructions). Our first question comes from Frank Pinkerton, SunTrust.

Frank Pinkerton - SunTrust Robinson Humphrey

Hey. First of all, Dave I believe you made a comment around Dysport expanding the market versus cannibalizing it. Do you have any data point that Jim gave us there, what was the reason behind those comments?

David Pyott

Well of course, it's always a matter of trying to define what's going on. Clearly, we've done a lot better done than we'd expected. So I suppose the real question is, is it just the market would have recovered anyway or was it because the market was stimulated by the entry of the competitor? Really I can't tell you definitively what the answer is.

Clearly another factor maybe a market leader like ourselves is challenged. Its kind of good for pulling off our socks. And everybody kind of leads to attention and starts moving quickly, maybe that stimulated the market. I think also its clear that so far that the market share intrusion has been quite limited, I made that remark, but even within that share, a major part of it is based on a three examples.

Frank Pinkerton - SunTrust Robinson Humphrey

Okay, great. And then as a follow-up, I think you crossed the Board this quarter. Glaucoma has been surprisingly strong for most of the companies, but maybe Scott, can you just speak to longer-term, what's Allergan's proposition for novel new molecules there as we look kind over of the next three to four years, potentially it could be generic competition and Allergan's ability to remain one of the leading players in glaucoma? Thank you.

Scott Whitcup, M.D.

Sure. That's a great question. Glaucoma remains one of our core R&D investment areas. What we're looking for are new chemical entities that provide patient value and tradition value. So we're looking for greater IOP decreases that are currently available, we think if that's possible. That activity is something that's important, so there's still a fair number of patient to our controls as a single available medication that are looking for novel mechanisms, so the action that would combine with existing therapy.

And then finally, drug delivery is a key area for innovation and one where with products like OZURDEX, we think we're the leader and hope to expand that to other product lines.

Operator

Our next question comes from Marc Goodman, UBS. Mr. Goodman, your line is open.

 

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