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David E.I. Pyott
Allergan, embroiled in takeover battle, raises its profit forecast
Allergan, embroiled in takeover battle, raises its profit forecast

Botox maker Allergan lifted its profit outlook Thursday as it tries to stave off a takeover attempt from a Canadian rival. The Irvine-based drug maker said it expects to earn between $1.76 and $1.78 a share during the third quarter, up from its previous guidance of $1.44 and $1.47. The company said shareholders can expect higher profit for all of this year, compared with 2013, and that earnings will keep rising over the next two years. The forecasts come as Canada’s Valeant Pharmaceuticals International Inc. prepares to ask Allergan shareholders to replace a majority of Allergan's board with members who would support a sale. The meeting is scheduled for December. ...

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