Pharmaceutical company intelligence reports from Espicom provide a full review of the company's activities together with five-year sales forecasts for its key products. The company's financial performance is covered in-depth, from its latest results to a complete analysis of its latest full fiscal year and an outlook for the future. A section on company strategy covers mergers, acquisitions and divestitures, key agreements, products and R&D. An overview of key products and R&D is followed by a comprehensive review of the company's product portfolio and research and development pipeline by therapeutic area. In addition, supplementary appendices provide more in-depth information on financials, agreements and corporate events. Allergan, with headquarters in Irvine, CA, is a global specialty pharmaceutical company that develops and commercializes products for the eye care, neuromodulator, skin care and other specialty markets. In addition to its discovery-to-development research programmes, Allergan has global marketing and sales capabilities in over 100 countries.

Allergan has chosen a distinct company strategy, focusing strongly on the development and marketing of speciality products. This tactic seems to have proved effective, with Allergan achieving a market leadership position in the area of neuromodulators with Botox, and in ophthalmology with its range of eye care therapeutics. The recent acquisition of Inamed should ensure Allergan maintains a strong presence in the field of medical aesthetics as well.

Botox is the company's main growth driver, accounting for over a third of company revenue, and sales are expected to exceed US$1 billion by 2007. Allergan's strong dependence on one key product may seem a concern, however, the company continues to invest signficantly in Botox, with five line extensions currently in the R&D pipeline, further expanding the therapeutic market presence of the product. At present, Botox has few competitors in its marketed indications, however, Solstice Neurosciences is developing Myobloc/Neurobloc (botulinum toxin type B), which has been shown in trials to be as effective as Botox in certain indications. The launch of Myobloc may form the first significant threat to Allergan's Botox franchise.

Allergan's research remains highly focused and concentrated mainly into three key therapeutic areas. As already mentioned, much of Allergan's research efforts are centred on maximising the value of Botox, however, the company has also nurtured several novel candidate compounds which may form the basis for long-term growth. Ophthalmology remains the key area of research, and the company's three most promising projects, Panzem, diquafosol and Posurdex, all fall into this field. Furthermore, the company has several broad research agreements in place, cented mainly on ophthalmology, pain and the treatment of neurodegenerative diseases.