Allergan Hits High

Allergan Inc.’s stock hit a 52-week high of $50.19 Wednesday, a day after the Irvine pharmaceutical company said its second-quarter revenue was stronger than expected, primarily because of continued growth in sales of its Alphagan and Botox drugs as well as strong sales of other pharmaceutical products to U.S. wholesalers. The stock retreated a bit later in the session to close at $49, up $1.56 for the day, on the New York Stock Exchange.

Analysts surveyed by First Call estimated Allergan would earn 37 cents a share. The company posted earnings of 33 cents a share for the second quarter a year ago.