Shares of Allergan Inc. jumped more than 6% after the drug maker reported third-quarter results that beat Wall Street estimates on Tuesday.
The Irvine-based company said it earned $150.5 million in the quarter, up 64% from a year earlier. Excluding restructuring charges and a one-time gain, Allergan earned $112.1 million in the quarter.
Analysts expected Allergan to earn $103.3 million on sales of $569.6 million.
Allergan’s third-quarter revenue was up 19% to $606.1 million. Sales of eye drugs drove the higher revenue, increasing 26% to $358.1 million. Botox, the company’s flagship neurotoxin for medical and cosmetic uses, had a 23% sales gain to $214.8 million.
Allergan also gave guidance for the fourth quarter.
The company said it expects to earn $115.1 million to $116.4 million on sales of $565 million to $580 million.
Wall Street had expected Allergan to earn $116 million on sales of $569.6 million.
