Botox Boosts Allergan’s Earnings

Surging sales of the neuromuscular and anti-wrinkle drug Botox helped boost Allergan Inc.’s earnings in the second quarter, the Irvine company said Wednesday as it edged Wall Street estimates.

Allergan, which also makes eye medicines, contact lens cleaners and pharmaceutical skin-care treatments, posted quarterly net earnings of $51.9 million, or 39 cents a share, beating analysts’ estimates by a penny. A year earlier, Allergan earned $46.9 million, or 34 cents a share, including one-time costs and credits.

Sales rose 9.9% to $404.1 million, but Botox sales surged 40.7% to $60.1 million.

Allergan is conducting several clinical trials of Botox for treatment of excessive sweating, brow furrow and limb spasticity.

The company also has conducted studies evaluating Botox for treatment of episodic migraine, but concluded that additional studies are necessary.

Studies found that Botox did not achieve hoped-for relief of lower back pain, according to a preliminary analysis. The company said it would also study this area further.

Allergan’s core products also turned in strong performances during the quarter, said David Pyott, president and chief executive officer.

Sales for the eye-care pharmaceutical business rose nearly 13% to $173.9 million, while sales for the ophthalmic surgical business climbed nearly 15% to $65.1 million.

The company also said Wednesday it has formed an alliance with Johnson & Johnson’s Vistakon division to expand products and services in the contact lens market.

Financial terms weren’t disclosed.

The company’s stock, which has increased nearly 42% so far this year, closed at $70.50, up 69 cents a share, on the New York Stock Exchange.