29 Oct, 2009
Medical Spa MD: Allergan’s Botox profits on the rise.
Posted by: Laser Clinic MD In: Botox Canada ()
Allergan Inc (AGN.N) on Thursday said its quarterly profit rose, as sales of anti-wrinkle drug Botox rebounded from an earlier slump and helped offset lower sales of medical devices.
The company’s third-quarter earnings increased 8 percent to $179 million, or 58 cents per share, compared with $165 million, or 54 cents per share, in the year-earlier period.
Excluding special items, Allergan earned 70 cents per share. Analysts on average expected 69 cents per share, according to Thomson Reuters I/B/E/S.
The company’s shares were up 1.2 percent at $54.20 in early trading on the New York Stock Exchange.
Allergan said global sales rose 4.2 percent to $1.13 billion in the quarter, somewhat higher than analysts’ expectations of $1.08 billion.
Sales of Botox rose about 3 percent to $328 million, following declines in earlier quarters that the company had attributed to waning use of cosmetic procedures during the economic downturn.
For full-year 2009, Allergan forecast earnings of $2.75 to $2.77 per share, excluding special items, compared with Wall Street expectations of $2.75 per share.
The company said it expects full-year sales of $4.35 billion to $4.4 billion, compared with Wall Street forecasts of $4.32 billion. (Reporting by Ransdell Pierson, editing by Dave Zimmerman)
