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Allergan second-quarter results reflect increase in sales
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IRVINE, Calif. – Allergan Inc. reported net sales of $591 million in the second quarter of 2005, an 18.6% increase compared to net sales reported in the same period in 2004.
The company’s board of directors declared a second quarter dividend of $0.10 per share, payable Sept. 7 to stockholders of record on Aug. 12.
Allergan reported $0.25 diluted earnings per share, including the incurrence of restructuring charges related to the scheduled termination of Allergan’s manufacturing and supply agreement with Advanced Medical Optics Inc., restructuring charges and other operating expenses to streamline research and development in Europe, and taxes.
“We are very pleased with our continued strong sales and earnings growth during the second quarter as our business continues to perform better than was anticipated at the beginning of 2005,” said David E.I. Pyott, Allergan’s chairman of the board, president and chief executive officer, in a press release. “In addition, we look forward to commencing with the key clinical trials for our exciting new Botox [botulinum toxin type A] indications, which include chronic daily headache and overactive bladder.”
Allergan’s adjusted diluted earnings per share were $0.78, reflecting a 23.8% increase compared to adjusted diluted earnings per share of $0.63 in the second quarter last year, according to the press release.
For the third quarter of 2005, Allergan estimates total pharmaceutical-only sales of between $565 and $580 million, with adjusted diluted earnings per share of between $0.78 and $0.79.