Botox has dominated the neurotoxin market since its FDA approval for cosmetic use in 2002. However, its iconic status would not be possible without the backing of global company Allergan Aesthetics.
In addition to Botox, Allergan Aesthetics itself a subsidiary of pharmaceutical company AbbVie, which houses aesthetics brands including Juvéderm, SkinVive, Kybella and Coolsculpting, among others. In its full-year 2023 earnings released in February, AbbVie reported that the global net revenue of its aesthetics portfolio was about $5.3 billion, with global Botox Cosmetic's net revenue reaching $2.7 billion and global Juvéderm's net revenue equalling $1.4 billion. Leading this portfolio of aesthetics products, and guiding the future of the aesthetics industry, is Carrie Strom, svp of AbbVie and Global Allergan Aesthetics president.
Strom has kept busy over the last year. In May 2023, Allergan received FDA approval for Skinvive by Juvéderm, and in early Oct. 2023, it became available for patients to receive as a treatment. Skinvive has been available in Europe since 2017 and marketed under the name “Volite.” Plus, the company has driven countless marketing moments, including the first-ever Juvéderm Day in Aug. 2023 and the fifth-annual National Botox Day in Nov. 2023. In addition, Strom has busied herself by shoring up Botox’s status, as competitors, including Jeuveau and long-lasting neurotoxin Daxxify, nip at its heels.
In conversation on the Glossy Beauty podcast, Strom discussed how younger consumers are changing the aesthetics market and how Skinvive can serve as an entry point for new patients, among other topics.