Allergan tops estimates as Botox, aesthetics products drive gains
FILE PHOTO: A sign marks Allergan's offices in Medford, Massachusetts, U.S., July 31, 2017. REUTERS/Brian Snyder/File Photo (Reuters)
(Reuters) - Allergan Plc's quarterly profit topped Wall Street forecasts, driven by higher sales of its medical aesthetics products including blockbuster wrinkle treatment Botox.
Allergan said on Monday revenue from the aesthetics unit, which also sells products that can melt excess body fat, rose nearly 30 percent in the three months ended March 31.
The company's revenue overall rose 2.8 percent to $3.67 billion, topping analysts' average estimate of $3.59 billion, according to Thomson Reuters I/B/E/S.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ALG | ALAMO GROUP INC. | 199.95 | +2.06 | +1.04% |
Net loss attributable to shareholders was $332.5 million or 99 cents per share, compared with $2.63 billion or $7.86 per share a year earlier.
Excluding one-time items, Allergan reported a profit of $3.74 per share, topping expectations of $3.36.
The company now expects 2018 adjusted earnings of $15.65 to $16.25 per share, slightly above its previous forecast of $15.25 to $16 per share.
(Reporting by Manas Mishra in Bengaluru; Editing by Anil D'Silva and Sai Sachin Ravikumar)