Allergan, Inc., the #1 Global Medical Aesthetics Company, and Clinique, the #1 Prestige Cosmetics Brand in the United States, Form Strategic Collaboration to Develop New Skin Care Line
-- New Line to Address Need for Specialized Skin Care as Medical
Aesthetics Market Grows and to Be Sold Exclusively in Physicians'
Offices --
IRVINE, Calif. & NEW YORK--(Business Wire)--Allergan, Inc. (NYSE:AGN) and Clinique Laboratories, LLC, today
announced a strategic collaboration which combines Clinique's
expertise in product development and formulation with Allergan's
leadership in the medical aesthetics market. The new skin care line,
which will incorporate the Clinique brand name, will offer clinically
proven skin care products to complement in-office aesthetic
procedures. It will be sold exclusively in physicians' offices in the
United States and is expected to launch in the fall of 2008.
Over the past ten years, non-surgical aesthetic procedures have
increased nearly 750 percent, with consumers in the United States
spending more than $12 billion on cosmetic procedures in 2006(1). The
top five non-surgical aesthetic treatments in 2006, administered in
the physician's office, included BOTOX(R) Cosmetic and hyaluronic acid
dermal fillers such as JUVEDERM(TM), laser hair removal,
microdermabrasion and laser skin resurfacing. As more patients seek
advice and treatments from aesthetic specialty physicians, there is a
similar, growing trend of consumers purchasing skin care products in
the physician's office. Allergan and Clinique expect to pioneer a new
category of best-in-class skin care products sold exclusively in
physicians' offices that will be Allergy Tested and 100% Fragrance
Free.
"In collaboration with Clinique, our goal is to establish a
leadership position in physician-dispensed skin care by offering a
one-stop approach to specialized skin care products under a brand name
that is trusted by consumers and backed by science on which physicians
can rely," said David E.I. Pyott, Allergan's Chairman of the Board and
Chief Executive Officer. "The collaboration combines Allergan's
leadership in medical aesthetics and our deep understanding of the
physician channel based on our Total Facial Rejuvenation portfolio -
including BOTOX(R) Cosmetic, JUVEDERM(TM) and our skin care product
line, with Clinique's history of formulating leading consumer skin
care products guided by dermatologists. Together with our
complementary strengths, we expect Clinique and Allergan to grow this
market."
"Clinique's promise to our consumers has always been to create
dermatologist guided, Allergy Tested, 100% Fragrance Free products
that address skin care needs. Today we are entering a new phase of our
relationship with the medical community," said Lynne Greene, Global
President, Clinique Laboratories. "By joining forces with Allergan,
the number one medical aesthetics company, we are now able to service
consumers who are under the care of a physician with this completely
new class of products."
"Clinique's rich dermatological heritage dates back 40 years,"
said William P. Lauder, President and Chief Executive Officer, The
Estee Lauder Companies Inc. "This new skin care line, created in
collaboration with Allergan, is the next generation of the expression
of Clinique's unique position delivered through one of the fastest
growing channels today, physicians' offices."
As part of the agreement, Clinique will be responsible for
formulating, developing and manufacturing the new product line.
Clinique will sell products to Allergan while Allergan will record
sales to physicians and handle consumer and professional marketing and
distribution. The agreement with Clinique will allow Allergan to
expand the size of its current sales force dedicated to
physician-dispensed skin care. Clinique and Allergan may also conduct
clinical trials and work with the physician community to ensure the
success of the new skin care line.
Important BOTOX(R) Cosmetic (Botulinum Toxin Type A) Information
BOTOX(R) Cosmetic is indicated for the temporary improvement in
the appearance of moderate to severe frown lines between the brows in
people 18 to 65 years of age.
Important BOTOX(R) Cosmetic (Botulinum Toxin Type A) Safety
Information
Serious heart problems and serious allergic reactions have been
reported rarely. If you think you are having an allergic reaction or
other unusual symptoms, such as difficulty swallowing, speaking or
breathing, call your doctor immediately. The most common side effects
following injection include temporary eyelid droop and nausea.
Localized pain, infection, inflammation, tenderness, swelling, redness
and/or bleeding/bruising may be associated with the injection.
Patients with certain neuromuscular disorders such as ALS, myasthenia
gravis or Lambert-Eaton syndrome may be at increased risk of serious
side effects. For full prescribing information, please visit
www.botoxcosmetic.com.
Important JUVEDERM(TM) Safety Information
JUVEDERM(TM) is indicated for injection into the mid to deep
dermis for correction of moderate to severe facial wrinkles and folds
(such as nasolabial folds), and is generally well tolerated. In
clinical studies, adverse events were usually mild to moderate in
nature, did not require intervention and lasted seven days or less.
The most common side effects included temporary injection site
reactions including redness, pain/tenderness, firmness, swelling,
lumps and bumps and bruising. For complete patient safety and
prescribing information, please visit www.Juvederm.com.
About Allergan, Inc. (NYSE:AGN)
Founded in 1950, Allergan, Inc., with headquarters in Irvine,
California, is a multi-specialty health care company that discovers,
develops and commercializes innovative pharmaceuticals, biologics and
medical devices that enable people to live life to its greatest
potential - to see more clearly, move more freely, express themselves
more fully. The Company employs more than 7,500 people worldwide and
operates state-of-the-art R&D facilities and world-class manufacturing
plants. In addition to its discovery-to-development research
organization, Allergan has global marketing and sales capabilities
with a presence in more than 100 countries.
About Clinique
Introduced in 1968, Clinique was the first ever
dermatologist-created, prestige cosmetic brand. Clinique's mission has
always been to provide the highest quality and most effective line of
products to enhance every skin type and tone. The brand's customized
approach and quality products - all meticulously tested and carefully
formulated with the latest science - have made Clinique one of the
leading skin care authorities in the world. All makeup and skin care
products are Allergy Tested and 100% Fragrance Free. Clinique offers
products for men and women of all ages and ethnicities. Clinique is
sold in more than 135 countries and territories, 17,000 sales
locations and on www.clinique.com.
About the The Estee Lauder Companies Inc. (NYSE:EL)
Founded in 1946, The Estee Lauder Companies Inc. is one of the
world's leading manufacturers and marketers of quality skin care,
makeup, fragrance and hair care products. The Company's products are
sold in over 135 countries and territories under well-recognized brand
names, including Estee Lauder, Aramis, Clinique, Prescriptives, Lab
Series, Origins, M-A-C, Bobbi Brown, Tommy Hilfiger, La Mer, Donna
Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors,
American Beauty, Flirt!, Good Skin(TM), Grassroots, Sean John,
Missoni, Daisy Fuentes, Tom Ford Beauty, Mustang, Coach and Ojon.
Allergan and The Estee Lauder Companies Inc. Forward-Looking
Statements
This press release contains "forward-looking statements,"
including the statements by Mr. Pyott, Mr. Lauder and Ms. Greene and
other statements regarding the market potential associated with the
new product line. These statements are based on current expectations
of future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results could vary
materially from Allergan's or The Estee Lauder Companies Inc.'s
expectations and projections. Risks and uncertainties include, among
other things, general industry and professional skin care channel
conditions; technological advances and patents attained by
competitors; challenges inherent in the research and development and
regulatory processes; challenges related to product marketing, such as
the unpredictability of market acceptance for new skin care products;
inconsistency of treatment results among patients; the potential for
product failures; potential difficulties in manufacturing new
products; governmental laws and regulations affecting domestic and
foreign operations and the ongoing success of the collaboration.
Allergan and the The Estee Lauder Companies Inc. expressly disclaim
any intent or obligation to update these forward-looking statements
except as required to do so by law.
Additional information concerning these and other risk factors can
be found in press releases issued by Allergan, as well as Allergan's
public periodic filings with the Securities and Exchange Commission,
including the discussion under the heading "Risk Factors" in
Allergan's 2006 Form 10-K and Allergan's Form 10-Q for the quarter
ended September 28, 2007. Copies of Allergan's press releases and
additional information about Allergan are available on the World Wide
Web at www.allergan.com or you can contact the Allergan Investor
Relations Department by calling (714) 246-4636.
Additional information concerning these and other risk factors can
also be found in press releases issued by The Estee Lauder Companies
Inc., as well as in its filings with the Securities and Exchange
Commission, including the discussion under the heading "Risk Factors"
in The Estee Lauder Companies Inc. Form 10-K for the fiscal year ended
June 30, 2007. Copies of The Estee Lauder Companies Inc. press
releases, filings as well as additional information about the company,
are available at www.elcompanies.com or you can contact The Estee
Lauder Companies Inc. Investor Relations Department by calling (212)
572-4184.
Allergan, JUVEDERM(TM) and BOTOX(R) Cosmetic are marks owned by
Allergan, Inc.
The other trademarks in this press release are owned or licensed
by subsidiaries of The Estee Lauder Companies Inc.
(1) American Society for Aesthetic Plastic Surgery (ASAPS), 2006
Statistics on Cosmetic Surgery, www.surgery.org (January 24, 2008)
Allergan
Jim Hindman, (714) 246-4636 (investors)
Joann Bradley, (714) 246-4766 (investors)
Emil Schultz, (714) 246-4474 (investors)
Caroline Van Hove, (714) 246-5134 (media)
Leslie Bryant, (714) 246-6948 (media)
or
The Estee Lauder Companies Inc.
Dennis D'Andrea, (212) 572-4384 (investors)
or
Clinique Laboratories
Stacy Mackler, (212) 572-4436 (media)
Copyright Business Wire 2008
