Can It Be Bigger and Better?
However, the new drug is likely to find it tough to win over the market mainly because Botox performs so well. To outdo its competitors, the new drug has to work faster, produce long lasting effects, and/or be more affordable than Botox. The good news for J&J customers is that they have brilliant researchers who produce great products. Even with that, loyal Botox consumers might take time to switch to the new product because Allergan, the manufacturer of Botox, has built a strong brand.
Will J&J Add Medical Benefits?
Some of its other medical uses include treating migraines, overactive bladders, and sweaty underarms.
Joining the Competition
Granted, several companies have already introduced anti-wrinkle cosmetics treatments in a bid to wrest market share from Botox including MerzPharma Group’s Xeomin and Valeant Pharmaceuticals International Inc.’s Dysport. However, the aforementioned drugs have only yielded a paltry 15% market combined. J&J expects to grab the number two market spot ahead of Dysport and Xeomin.
Morningstar believes that competition will be quite fierce in emerging markets where Botox has not made serious inroads such as South America and Asia. In addition, the drug is likely to find acceptance among people looking for the next big revelation that can deliver superior cosmetics results particularly in terms of youthful and wrinkle free skin.