Pre-tax profits at Co Mayo-based Botox producer, Allergan Pharmaceuticals Ireland, declined last year by 17% to $187m (€168.69m)
Allergan has made Westport 'Botox capital of the world' and the new accounts show that 83% or $2.4bn of the company’s $2.9bn in revenues last year came from the anti-wrinkle treatment, Botox.
The remaining 17% of sales came from eye care pharmaceuticals produced at the company’s Westport plant.
Overall revenues declined by 4.4% from $3bn to $2.92bn..
Westport is Allergan’s only Botox manufacturing facility across its global network and is serving ever increasing global demand.
Hollywood stars and celebrities, Nicole Kidman, Cameron Diaz, Courteney Cox and Kim Kardashian have all admitted that they have used the wrinkle erasing drug, Botox in the past.
Allergan first set up on a greenfield site outside Westport 42 years ago and it has provided a bonanza to the Co Mayo tourist town which according to the 2016 Census had a population of 6,198.
Underlining the contribution of the pharma company to the Co Mayo economy, 1,158 are employed at the plant and last year staff costs totaled $82.95m.
Pay to directors last year totaled $1.48m.
According to the directors’ report, Allergen Pharmaceuticals Ireland is expected to grow sales and pre-tax profits in line with growth in its key markets.
They state: "Allergan’s overall plan is to achieve double digit growth each year over the next three years."
They state that the company has capital projects in progress to expand its production capacities to strategically position its manufacturing facility for the introduction of new products.
Shareholder funds at the end of last year totaled $786m.
Abbvie is due to acquire Allergan and the directors’ report states that the deal is expected to close in early 2020.