The topically-injected Botox treatment is currently available in the US, but the company also has a strong presence in Europe. It works by blocking the chemical signals from nerves that stimulate sweat glands, and patients notice a significant reduction in underarm sweating within four weeks, says the company. Repeat injections are necessary every 6-12 months for maximum success.
The FDA-approved treatment is the latest in a raft of non-surgical corrective measures that capitalise on the growing trend in beauty-orientated procedures, such as anti-ageing laser treatments and skin rejuvenation systems.
In January Allergan consolidated research and commercial operations in Europe with its facilities in the UK, Ireland and the US, in a bid to cut market-entry costs.
The plan is part of Allergan's long-term goal to focus its resources on developing new products with high-market potential and reduce the amount of time it takes to bring a new product to the market.
Allergan said it expects the consolidation also will strengthen its clinical development and regulatory infrastructure.
Although Botox is the leading beauty treatment - more than 2.9 million injections are administered each year in the US alone - anti-ageing laser therapy is the next growing trend, according to industry insiders.
Laser resurfacing, which removes part of the outer layer of the skin, has become increasingly popular in Europe as people look for effective alternatives to cosmetic products to combat the signs of ageing.
The Israeli Lumenis One laser system, which reported strong US sales in 2004 - launched in Europe last November. It uses intense pulse light technology (IPL) for skin photo-rejuvenation.
And San Diego-based Reliant Technologies is enjoying success from its Fraxel laser innovation, which has been installed in more than 40 plastic surgery offices in the US and is exciting many dermatologists.
The Fraxel laser offers treatment for a range of conditions, from removing the crepe texture of ageing skin to treating spots and wrinkles on the chest, hands, and neck.
As a result the cosmetics industry may well face tough competition as consumers begin to experiment with these new semi-permanent solutions.
According to the British Association of Aesthetic Plastic Surgeons (BAAPS) a total of 16,367 procedures were performed in the UK in 2004 - demonstrating a 65% increase over 2003 levels. Of these, 92 per cent were performed on women.
But deodorant sales have been steadily growing over recent years; with a current western European retail value of €3.3 billion, according to Euromonitor.
It is unlikely that the new Botox perspiration treatment will impact the market in the short-term as deodorant is still seen by many consumers as a necessary consumable.
"It is too much of a mass product for people to suddenly stop using it, but there could be some impact in the long-term if the Botox treatment becomes available and is proven to be really effective," said Euromonitor's Claire Briney.
"But certainly in the short-term we are not expecting any huge fluctuations in sales," she added.