AbbVie's Allergan Aesthetics unit reported that the FDA accepted a supplemental Biologics License Application for Botox Cosmetic targeting masseter muscle prominence in adults, a potential fifth U.S. aesthetic indication. AbbVie shares have risen to $247.97, with a 90-day return of 19.3% and a one-year total shareholder return of 28.71%. A widely followed fair value estimate places the stock at about $273 per share, implying a 9.3% discount, though the stock trades at a P/E of 69.9x compared with 16.8x for the broader U.S. biotech industry.
AbbVie IncFDA acceptance of Botox Cosmetic for a new indication expands its approved uses.
