IRVINE, Calif. - Allergan (NYSE:AGN) Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), today announced the release of SkinMedica® HA5® Hydra Collagen Replenish + Restore Hydrator, a new skincare product designed to provide deep hydration and improve skin radiance. The product leverages a unique blend of five forms of Hyaluronic Acid, Hydra Collagen, and Advanced VITISENSCE® Technology.
According to Jasson Gilmore, Senior Vice President of U.S. Aesthetics at Allergan Aesthetics, this innovation builds on the success of their 2016 HA5® Rejuvenating Hydrator. The new formula contains twice the amount of Hyaluronic Acid compared to the original and is engineered to support the skin's natural moisture retention, offering up to 48 hours of hydration.
Clinical studies have indicated that when used in conjunction with DiamondGlow® facial treatments, users reported significantly more radiant and hydrated skin after just one application. Dr. Shannon Humphrey, a board-certified dermatologist, recommends the combination of the HA5® Hydra Collagen Hydrator and DiamondGlow® treatments for achieving optimal skin health.
The product, which retails for $192, is now available for purchase on the SkinMedica website and can be used in tandem with the HA5® Hydra Collagen Pro-Infusion Serum for DiamondGlow® treatments, available through professional providers.
Allergan Aesthetics, known for its extensive portfolio of aesthetic products including BOTOX® Cosmetic, emphasizes its commitment to innovation and education in the field of skincare. The company also encourages customers to join Allē, their aesthetics loyalty program, to earn points on treatments including SkinMedica® products.
The information in this article is based on a press release statement from Allergan Aesthetics.
In other recent news, AbbVie has seen significant developments. The company's target share price was raised to $209 from $196 by Piper Sandler due to a positive market outlook, maintaining an Overweight rating. Concurrently, Goldman Sachs (NYSE:GS) increased AbbVie's price target to $200 from $190, sustaining a Buy rating.
AbbVie's newly approved drug, TEPKINLY, received conditional approval from the European Commission for treating adult patients with relapsed or refractory follicular lymphoma. The approval was based on EPCORE NHL-1 clinical trial results, showing an 83% response rate.
In addition, AbbVie completed its acquisition of Cerevel Therapeutics, expanding its neuroscience portfolio. The company reaffirmed its full-year adjusted diluted earnings per share guidance for 2024, post-acquisition.
In terms of policy, the Biden administration initiated price negotiations with Medicare for ten high-cost prescription drugs, including AbbVie's Imbruvica. The U.S. government anticipates saving $6 billion in the first year from these negotiations, with the new prices set to take effect in 2026.
These are the recent developments concerning AbbVie.
InvestingPro Insights
As Allergan Aesthetics, a part of AbbVie Inc (NYSE:ABBV)., launches its new SkinMedica® HA5® Hydra Collagen Replenish + Restore Hydrator, investors are closely watching the company's financial health and stock performance. AbbVie's commitment to innovation is reflected not only in its product development but also in its financial metrics, which provide insights into the company's profitability and market position.
AbbVie's market capitalization stands strong at $348.75 billion, indicating its significant presence in the biotechnology industry. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, is currently at 26.87 on a last twelve months basis as of Q2 2024, suggesting that investors have high expectations for the company's earnings growth. This aligns with an InvestingPro Tip that indicates analysts are predicting net income growth for AbbVie this year.
Another notable metric for AbbVie is its dividend yield, which is 3.14%. This is particularly relevant for income-focused investors, especially considering that AbbVie has a history of raising its dividend for 11 consecutive years, a fact highlighted as an InvestingPro Tip. Such consistent dividend growth can be an attractive point for those looking for stable returns in their investment portfolio.
For those interested in delving deeper into AbbVie's financials and stock performance, there are additional InvestingPro Tips available on the platform. Currently, there are 14 more tips listed, which can provide further guidance on investing in AbbVie.
As the company continues to expand its skincare line, these financial indicators and expert insights from InvestingPro may help investors make more informed decisions. Visit InvestingPro for a comprehensive analysis and additional tips on AbbVie.
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