Despite Europe’s high unemployment and spartan austerity measures, sales in Botox and breast implants continue to perform well, according to the chief executive of US pharmaceutical company Allergan. This news report comes in the wake of recent statistics released by the International Society of Aesthetic Plastic Surgery, which revealed that Greece and Italy take the second and third spots worldwide in terms of percentage of population receiving cosmetic procedures.
The Financial Times reports that Allergan’s sales have been booming in 2012. According to David Pyott, Allergan’s chief executive, the company generated double-digit growth in sales of breast implants in Europe from January through March, compared with the same period in 2011. Botox sales have also been performing strongly.
“In southern Europe, people spend a higher proportion of their income on appearance and lifestyle. They are happy to live in a modest apartment and look good facially and body-wise when they go out.” - David Pyott
This reinforces the findings of the ISAPS, which revealed that breast augmentation surgery is the most popular cosmetic procedure in Greece. In Italy, Botox is the most popular procedure, while liposuction is the most sought-after surgery. Only South Koreans pursue plastic surgery with greater frequency than Greeks or Italians.
According to the Times report, Allergan’s revenues rose nearly 10 per cent to $1.39 billion when compared to the same period last year. This growth is significantly driven by Botox sales, which are increasingly being directed towards non-cosmetic purposes, such as migraine headache relief.
As for breast implant sales, Pyott says, much of Allergan’s success can be explained by the Poly Implant Prothese (PIP) breast implant scandal. More European plastic surgeons began buying Allergan’s breast implants amidst fears that European-manufactured breast implants might also have industrial silicone. As a result, the American company’s reputation for quality and safety has further secured its status as a world leader in cosmetic products