Allergan’s net income climbs 48%

Allergan Inc., the Irvine-based maker of the wrinkle smoother Botox, said Tuesday that third-quarter profit rose 48% on sales of the product, breast implants and eye drops.

Net income jumped to $157.4 million, or 51 cents a share, from $106.4 million, or 35 cents, a year earlier, the company said. Excluding certain items, profit matched the 58-cent average estimate of analysts surveyed by Bloomberg. Revenue increased 23% to $993.7 million.

Allergan exceeded expectations for its leading products while spending less than usual on research and sales as well as administrative expenses, said Gary Nachman, an analyst at Leerink Swann & Co. in New York.

“The stock has run up pretty nicely, and fundamentally everything looks great,” Nachman said.

Allergan shares rose 8 cents to $67.77. The stock has gained 13% this year.

The company raised its sales forecast for the year to as much as $3.82 billion from a forecast high of $3.76 billion given in August.

Sales of Botox, Allergan’s biggest product, increased 25% to $296.7 million. Botox is a refined version of botulinum toxin and is used to smooth facial wrinkles and treat muscle-control disorders.

Sales of breast implants rose 28% to $69.7 million. Revenue from eye-care drugs rose 13% to $457.7 million.