A global surge in the sales of Botox produced at Allergan's Westport plant helped the business record pre-tax profits of $1.327bn (€1.245bn) in 2021.
New accounts for Allergan Pharmaceuticals Ireland UC show that the increase in the demand for Botox resulted in company revenues increasing by 52%, from $2.857bn to $4.348bn.
The Co Mayo plant is parent Abbvie’s sole manufacturing facility for the production of Botox worldwide.
The accounts for Allergan Pharmaceuticals Ireland UC show that Botox sales totalled $3.6bn in 2021 - or 84% of all sales - as eyecare pharmaceutical sales totalled $716m.
The figures show that sales of Botox increased by 66% - or $1.45bn - from $2.18bn to $3.63bn.
Numbers employed reduced from 1,316 to 1,210 in 2021 and the business’s contribution to the local economy is underlined with staff costs totalling $105.62m in 2021.
The company’s largest market is the US, accounting for 75% - or $3.25bn - in sales.
The pre-tax profit of $1.32bn followed pre-tax loss of $2.1bn in 2020, that largely related to non-cash write-downs.
The profit in 2021 takes account of combined non-cash depreciation and amortisation of $1.52bn and a non-cash gain of $718.3m arising from a reversal of a prior write down of intangible assets.
The accounts - signed off on 3rd February - show that the business recorded an operating profit in 2021 of $2.2bn and net interest payments of $875m reduced the profits to $1.32bn.
The business recorded post tax profits of $1.16bn after paying corporation tax of $164m.
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 46 years ago and it has provided a bonanza to the Co Mayo town and the north west region.
In 2021 staff numbers were made up of 667 in production, 296 in quality, 21 in administration and 226 under the heading of 'indirect'.
Pay to directors totalled $1.14m, that included emoluments of $858,000 and $232,000 in share options.
The directors state that the company has major capital projects in progress to expand its production capability and to strategically position its manufacturing facility for the introduction of new products.
At the end of December 2021, the company’s shareholder funds totalled $6.8bn. The company’s cash funds totalled $43.4m.
Abbvie's $63bn purchase of the Allergan group was completed in 2020.
