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Earnings increase in second quarter for Allergan

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Allergan reported $0.96 diluted earnings per share for the second quarter, according to a news release. In the same quarter last year, Allergan reported $0.79 diluted earnings per share.

Total product net sales increased 4.8% to nearly $1.47 billion, the release said. Specialty pharmaceuticals net sales increased 5% compared with the second quarter in 2011, and medical devices net sales increased 4%.

“Allergan continued to deliver strong earnings growth in spite of the strong U.S. dollar relative to virtually all major currencies,” David E.I. Pyott, Allergan’s chairman of the board, president and CEO, said in the release. “In addition, we continue to focus on identifying efficiencies so that we can continue to invest strongly in [research and development] to drive innovation.”

In the third quarter, Allergan expects net sales of $1.37 billion to $1.45 billion. For the full year, Allergan expects $5.7 billion to $5.8 billion in net sales and non-GAAP diluted earnings per share attributable to stockholders between $4.15 and $4.19, according to the release.

Allergan also announced that shareholders of record on Aug. 23 will receive a dividend of $0.05 per share.