Allergan’s Net Income Gets a Lift From Botox Sales
From Reuters
Allergan Inc. said second-quarter earnings more than doubled on strong sales of its Botox anti-wrinkle treatment and eye medicines.
The Irvine-based company earned $74.2 million, or 49 cents a share, up from $33.4 million, or 25 cents, a year earlier when results were hurt by restructuring costs.
Sales jumped 33% to $787 million, helped by new products obtained through Allergan’s $3.2-billion acquisition in March of breast-implant maker Inamed Corp.
Allergan said sales of Botox and the company’s eye-care products both jumped 17% in the quarter, to $379 million and $248 million, respectively.
