Guest guest Posted November 7, 2007 Report Share Posted November 7, 2007 Not nearly as much as implanted women and their offspring LOSE! --------------------------------------------------- Allergan's net income climbs 48% template_bas template_bas November 7, 2007 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 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. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.