Allergan Spinoff Reports Loss of $20.1-Million in 4th Quarter

Allergan Specialty Therapeutics Inc., an Irvine drug research and development company formed by Allergan Inc., incurred a fourth-quarter net loss of $20.1 million, or $6.13 a share, compared with a net loss of $14.7 million, or $4.49 a share, for the 1999 fourth quarter. Revenue, consisting of interest and investment income, was down 39% to $812,000. For the year, the company posted a net loss of $69.2 million, or $21.25 a share, compared with a year-earlier net loss of $52.8 million, or $16.13 a share. Revenue decreased 55% to $3.2 million.