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Allergan reports year-end earnings
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IRVINE, Calif. — Allergan announced year-end net sales of $2.32 billion in 2005, an increase from the $2.04 billion it earned in 2004, the company said in a press release. Net earnings for the year were $385.8 million, increased from $377.1 million in 2004, the company added.
Eye care pharmaceuticals generated $1.32 billion during 2005, an increase of 16.2% from 2004 levels. Botox (botulinum toxin) sales increased almost 18% from 2004 with a total $830.9 million in sales. Allergan’s skin care line generated $120.2 million during the year, an increase of 16.2% from 2004 levels, the company said in its release.
Glaucoma drugs Alphagan P (brimonidine tartrate), Alphagan (brimonidine 0.2%) and Combigan (0.1% brimonidine tartrate, 0.5% timolol maleate) led sales, totaling $277.2 million for the year. Lumigan (bimatoprost ophthalmic solution 0.03%) sales were $267.6 million for the year, with other glaucoma drugs totaling $18 million. Dry eye treatment Restasis (cyclosporine) posted sales of $190.9 million for the year.
Highlights for the company during the fourth quarter included entering into a long-term agreement with GlaxoSmithKline to develop and promote Botox in Japan and China. In November, the company agreed to acquire Inamed Corp. for $84 a share or for a share of Allergan stock. The company has extended the tender offer until Feb. 22, 2006.