Pre-tax profits at the firm which operates the global production hub for Botox in Westport, County Mayo last year increased by 25pc to $1.38bn (€1.19bn).
New accounts filed by Allergan Pharmaceuticals Ireland UC show that the Westport based firm recorded the increase in pre-tax profits after revenues decreased by 4pc from $5.23bn to $5.04bn.
The revenues translate to average weekly revenues of $96.9m.
The pre-tax profits of $1.38bn for 2024 follow pre-tax profits of $1.1bn for 2023.
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 48 years ago and it has provided a bonanza to the Co Mayo town and the north west region.
The company continued to expand last year as numbers employed increased by 6pc from 1,533 to 1,627 and the business's contribution to the local economy is underlined with staff costs rising by 8pc from $128.82m to $139.46m in 2024.
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 decreased by 2pc from $4.74bn to $4.65bn as eye care pharmaceutical sales declined by 21pc from $492.9m to $388.62m
The company’s largest market is the US accounting for 67pc or $3.62bn in sales followed by Europe, Africa and the Middle East where sales increased by 62pc to $1.22bn last year while Asia which accounted for 9pc - or $394m - of total turnover.
The profit in 2024 takes account of combined non-cash depreciation and amortisation of $1.59bn.
The accounts - signed off on November 4th - show that the business recorded an operating profit in 2024 of $1.84bn and net interest payments of $459m reduced the profits to $1.38bn.
The business recorded post tax profits of $1.2bn after incurring a corporation tax charge of $183.26m.
In 2024 staff numbers were made up of 630 in production, 378 in quality, four in administration and 615 under the heading of 'indirect’.
Pay to directors last year increased by 45pc from $1.014m to $1.47m.
The directors state that "the company has major capital projects in progress to expand its production capacities and to strategically position its manufacturing facility for the introduction of new products".
At the end of December 2024, the company’s shareholder funds totalled $12bn that included accumulated profits of $3.23bn.
In a post balance sheet event, Allergan Pharmaceuticals International Limited transferred intellectual property rights to the company at a value of $623m.
Reporting by Gordon Deegan
