Allergan’s profit tops estimates
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Allergan Inc. posted stronger-than-expected quarterly earnings Wednesday on higher sales of prescription drugs, medical devices and its Botox anti-wrinkle product.
Second-quarter profit rose to $138 million, or 45 cents a share, from $74 million, or 24 cents, a year earlier.
Excluding special items, the Irvine-based company earned 54 cents a share, topping the average forecast by analysts of 3 cents, according to Reuters Estimates. Second-quarter revenue rose 23% to $988 million, well above the forecast of $924 million.
Shares of Allergan rose $2.66 to $60.79.
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