Allergan: The Unlikely Luxury Brand
Let's play a game of word association, shall we? When I give you a word, write down the first brand(s) that come to mind.
OK. Here goes: the word is "luxury goods."
Alright. Did anyone come up with Allergan ?
When it comes to luxury, certainly few people think of health care. Yet several investment funds have recently added Allergan to their luxury goods portfolio and for good reason. The Irvine, Calif.-based company seems to do well wherever wealthy people are. Allergan's Botox, breast implants, eye-lash enlargers and dermal fillers that get rid of wrinkles are in high demand among the affluent population.
"I think when I reflect upon everything, it shows even in turbulent economic times, it's really the power of innovation that wins, especially with well-differentiated products," CEO David Pyott told Cramer on Wednesday's "Mad Money."
Cramer also spoke with Pyott about Allergan's future prospects and its latest earnings results. Watch the video to see the complete conversation.
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