Our Haute 100 list details the accomplishments of the most influential people in each of our markets—Miami, New York, Los Angeles, and San Francisco. These people continue to make moves, so rather than waiting for the next Haute 100 issue to come out, we thought we’d provide you with regular updates on those Haute 100 members who are making headlines. David Pyott’s company Allergan plans to train doctors to administer Botox for its newly approved use — the treatment of migraines.
David Pyott
Category: Entrepreneurs
Company: Pharmaceuticals
Industry: Allergan Inc.
What Makes Him Haute: Nearly in the top 20 of Forbes executive pay list for 2008, this pharmaceutical mastermind serves as the CEO, chairman of the board and director of Allergan Inc., a multi-billion-dollar specialty health-care company. He also serves as director for Avery Dennison Corp. and director of Edwards Life Sciences Corp., all of which are publicly traded companies.
What Makes Him Haute Now: Now you can take Botox for your chronic migraines, and not just to mask the headache’s stress wrinkles. Last month the drug was approved for the treatment of chronic migraine headaches, meaning those who suffer at least 15 headache days per month. David Pyott’s pharmaceutical company Allergan Inc. is not hesitating on the opportunity to market this new use of Botox. The drug maker already plans to start training doctors on how to prepare the drug and inject it. With analysts estimating that this new use could boost the yearly sale of Botox by $1 billion, and Allergan’s approximation that $3.2 million Americans suffer from chronic migraines, it’s no wonder Pyott’s company is so eager to launch a new market. Additionally, Allergan wants to collect data on Botox usage and patients to show insurers “that these people are legitimate and have been appropriately diagnosed,” said Pyott.
The company anticipates that it will take a while before insurers agree to pay for Botox migraine treatments (only about 10 percent of the drug’s use now is covered by insurers), but Pyott is confident considering his company’s recent success, “We can count up to 13 significant approvals in the U.S. and around the world, very rare in our industry where most people are starving for approvals.” With such a great business prospect on the rise it’s likely that Pyott won’t need any Botox in the near future, at least not for his headaches.
Haute Secrets
November 16, 2010Haute Secrets: Robert Tateossian
