Allergan Profits Drop 35% for ‘95, Even as Sales Rise
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IRVINE — Allergan Inc. posted a 35% decline in profit for 1995, while sales rose by 13%.
Net income for the health-care company dropped last year to $72.5 million, or $1.12 a share, from $110.7 million, or $1.73 a share, for 1994. The company said that during the second quarter last year, it contributed $50 million to Allergan Ligand Retinoid Therapeutics Inc., a research and development concern. Sales increased to $1.1 billion from $947.2 million.
Fourth-quarter profit increased 14% to $39.6 million, or 61 cents a share, from $34.8 million, or 54 cents a share, for the same period a year ago. Sales rose 12% to $303.1 million from $270.2 million.
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