Allergan posts 6.9% rise in fourth quarter sales

IRVINE, Calif. — Allergan reported $1.29 billion in total product net sales for the fourth quarter of 2010, up 6.9% compared with $1.2 billion posted during the same period in 2009, the company announced in a press release.

Fourth-quarter specialty pharmaceuticals net sales increased 6.9%, and total medical device sales rose 7.1%, according to the release.

Diluted earnings per share attributable to stockholders totaled $0.85 for the fourth quarter of 2010, up from $0.72 for the fourth quarter of 2009. Non-GAAP diluted earnings per share attributable to stockholders totaled $0.88, up 12.8% compared to $0.78 for the same period in 2009.

Allergen projects full-year 2011 product net sales to fall between $5.02 billion and $5.22 billion. Specifically, the company expects to post between $4.16 billion and $4.3 billion in specialty pharmaceutical sales and between $860 million and $920 million in medical device sales.

Allergen projects total sales for Alphagan (brimonidine tartrate ophthalmic solution) to reach as high as $400 million and for sales of Lumigan (bimatoprost 0.03%) to climb to $580 million during 2011, according to the release.

The company also expects Restasis (cyclosporine ophthalmic emulsion 0.05%) to generate between $680 million and $710 million in sales for 2011.