Allergan Inc (Irvine, Calif) this week announced its second quarter earnings, reporting net earnings of $242 million on $1.27 billion in sales. The specialty healthcare company reported $0.78 diluted earnings per share attributable to stockholders compared with $0.58 for the second quarter of 2009.
Allergan’s sales figures may reflect growth in overall cosmetic surgery business. Sales of the firm’s flagship product, Botox, reached $360 million, an increase of 6% over the previous year, and Allergan expects to hit revenue of between $1.36 billion and $1.39 billion for the 2010 year.
Allergan has been the subject of increased scrutiny by federal authorities in the past year. The FDA has raised concerns about the treatment’s side effects. Some patients who are treated with Botox apparently experience chronic migraines. However, the FDA is reportedly on the cusp of granting approval for the use of Botox in treating migraines.
Sales of Allergan’s Latisse eyelash lengthening drug were up 82% over the previous year; in addition, its dermal fillers, such as Juverderm, were up 31%, and sales of breast implants were up 10%.
[Source: MarketWatch]
