Allergan (NYSE: AGN), maker of Botox, is a global specialty pharmaceutical company that researches, develops and manufactures prescription and over the counter specialty pharmaceuticals. The company's main areas of expertise, include dermatology, aesthetics (breast implants), ophthalmology, and neurological disorder (botox).

In 2005 Allergan acquired Inamed, which develops silicon breast implants and medical devices aimed at obesity prevention and treatment. In 2006 Allergan gained FDA approval for its silicon breast implants; silicon implants had been banned for the last 15 years. The addition of Inamed's obesity prevention products to Allergan's already strong portfolio of ophthalmology products leaves the company well positioned to benefit from both the continued aging of the US population and the ongoing obesity epidemic. A major threat to the company's future success is the expiration of its patents and the introduction of new competition. Another significant threat is the enduring global economic recession, during which consumers may be less likely to undergo luxury medical procedures like breast implants or botox.

(Read more at Wikinvest )