Allergan announces net sales of $615.2 million for first quarter

By Lisa Kerner

Erie, Pa., May 3 - Allergan, Inc. announced operating results for the first quarter ended March 31.

The company's net sales were $615.2 million, not including products acquired in the Inamed acquisition of March 23.

Allergan reported a $3.29 diluted loss per share compared with the $0.60 diluted earnings per share reported for the first quarter of 2005.

The company's adjusted diluted earnings per share were $0.82, a 7.9% increase from the previous year's first-quarter diluted earnings per share of $0.76.

"I am extremely pleased with the very strong sales growth across a broad range of products, regions and businesses in the first quarter, driven by our strong investments in sales and marketing programs as well as research and development," chairman and chief executive officer David E.I. Pyott said in a company news release.

Company highlights for the first quarter included settlement of the patent infringement lawsuit with Alcon, European Commission approval of Ganfort for glaucoma and the naming of F. Michael Ball as company president.

Allergan increased its total sales guidance for 2006 to between $2.8 million and $2.9 million and its adjusted diluted earnings per share guidance to between $3.57 and $3.63.

For the second quarter, Allergan estimates total Allergan and Inamed sales of between $750 million and $770 million.

Allergan is a specialty pharmaceutical company located in Irvine, Calif.

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