Irvine drug maker Allergan Inc. on Monday posted a third-quarter profit in line with Wall Street expectations and upped its outlook for all of 2010.
For the third quarter, Allergan’s profit before items came in at $236.5 million, up 11% from a year earlier and in line with what analysts were expecting on average.
After items, Allergan posted a net loss of $670.5 million.
Allergan said it took a $609 million charge relating to the settlement of a federal probe into marketing practices for Botox.
Third-quarter sales came in at $1.19 billion, up 6% from a year earlier and surpassed analysts’ expectation of $1.18 billion.
For all of 2010, Allergan said it now expects a profit of $967.1 million to $973.3 million, up from an August forecast of $957.9 million to $970.2 million.
Analysts on average expect Allergan to make $970.2 million in 2010.
Allergan raised its full-year product sales outlook (slightly lower than total sales) to $4.75 billion to $4.8 billion, up from previous expectation of $4.62 billion to $4.75 billion.
Wall Street expects Allergan’s full-year sales to come in at $4.78 billion.
