Allergan product sales up 30% for the quarter, boosted by Inamed acquisition

By Lisa Kerner

Charlotte, N.C., Nov. 1 - Allergan, Inc. said for the quarter ended Sept. 29, its total product net sales rose 30.6% to $791.7 million, including $116.3 million of product net sales acquired in connection with the Inamed Corp. acquisition.

Pharmaceutical net sales increased 11.5% from the year-ago period.

Looking ahead to the full-year 2006, Allergan increased its total product net sales guidance to between $2.975 billion and $3.015 billion, with Botox product net sales expected in the range of $950 million to $960 million, not including sales in Japan.

Allergan reported $0.70 diluted earnings per share for the third quarter, compared with the $1.12 diluted earnings per share reported for the third quarter of 2005. Adjusted diluted earnings per share were $0.95, up 14.5% from $0.83 reported for the prior-year third quarter.

Cash and cash equivalents were $1.062 billion at Sept. 29, compared with $1.296 billion at Dec. 31, 2005.

"Strong organic double-digit sales growth continues on a broad basis in our ophthalmology and Botox businesses," chief executive officer David E.I. Pyott said in a news release.

"Furthermore, we are pleased with the progress and completion of a substantial part of the integration of Inamed, which is now part of our newly established Allergan Medical division."

Allergan is an Irvine, Calif., pharmaceutical company.

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