CLAIM #2425 · AbbVie Inc (ABBV) · 2024Q2 earnings call · Jul 25, 2024 · due Dec 31, 2024
“Although, when we think about price, price is a factor that we’ll be looking for the second half of the year, which will give us some favorable pricing dynamics.”
Carrie Strom · SVP, President Global Allergan Aesthetics
In context
“of some of the sluggishness as opposed to purely thinking about or primarily thinking about volume of procedures? And if you could sort of respond in the neurotoxin neuromodulator versus the filler segment, that’d be helpful. Thank you. Carrie Strom: Hi. This is Carrie. I’ll address the questions. So, first let’s talk about the market dynamics for market growth in the U.S. for facial injectables. So, late last year, we started to see a recovery and a return to growth of the toxin market and we’ve seen that market growth recovery continue this year in that mid-single-digit range. And that’s volume, that is traffic into our customers’ offices and that’s really been consistent for the past few quarters. So, the market dynamics for our business are really driven by patient demand and volume. Although, when we think about price, price is a factor that we’ll be looking for the second half of the year, which will give us some favorable pricing dynamics. We did take a price action at the beginning of the year for toxins and then we’ll have some more efficiency when it comes to our strategic shifts in our pricing promotions for the second half of the year. So, one example of that would be promotions we did last year, for example, around competitive launches that we won’t need to do this year based on the success of our competitive strategy last year. So really our performance is driven by market growth and we also had some nice stability in our market share. Anything you’d like to add? Jeff Stewart: Maybe because it’s worth mentioning, so some of that shift in promotional activity that you mentioned, we did talk about in the first quarter that that was a destocking that occurred of inventory levels. And when Carrie made her remarks and we”
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SEC filings for ABBV ↗ · Claim quote is verbatim from the 2024Q2 earnings call.