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Allergan reports 32% increase in fourth-quarter sales; oral glaucoma drug fails second phase 3 trial
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IRVINE, Calif. — Fourth-quarter 2007 net sales for Allergan totaled $1.075 billion, a 31.7% increase compared with sales of $816 million for the fourth quarter of 2006, the company announced in a press release.
Full-year revenue totaled $3.9 billion, a 29% increase compared with total revenue of $3.01 billion for 2006.
Allergan estimates total product net sales between $4.4 billion and $4.58 billion for the full year 2008.
The company also announced results from the second phase 3 clinical trial evaluating the safety and efficacy of oral memantine for treating glaucoma.
"Although the study showed that the progression of disease was significantly lower in patients receiving the higher dose of memantine compared to patients receiving the low dose of memantine, there was no significant benefit compared to patients receiving placebo. Therefore, the study failed to meet its primary endpoint and to sufficiently replicate the results of the first phase 3 trial," the release said.
Although additional analyses are ongoing, Allergan does not believe that these analyses will support U.S. Food and Drug Administration approval of the drug, the release noted.