Allergan posts 29% drop in quarterly earnings

Allergan Inc., maker of breast implants and Botox anti-wrinkle treatment, said quarterly profit fell 29% because of restructuring expenses and costs associated with its acquisition of Inamed Corp.

The Irvine-based company, which also makes eye medications, said third-quarter net income was $106.4 million, or 70 cents a share, down from $150.5 million, or $1.12, a year earlier.

Before exceptional items, the company earned 95 cents a share. On that basis, the consensus estimate on Wall Street was 94 cents a share, according to Reuters Estimates.