Irvine drug maker Allergan Inc. saw higher fourth-quarter sales and profits after charges but offered a profit forecast below Wall Street expectations for the current quarter.
Allergan said it earned $156.5 million in the fourth quarter, minus stock option expense and other charges, versus $136 million a year earlier.
Sales were up 38% to $829 million with last year’s buy of Santa Barbara-based Inamed Corp. The fourth quarter included $127 million in sales from Inamed.
Allergan makes eye and skin drugs as well as wrinkle removers and smoothers, breast implants and a device to combat obesity.
For all of 2006, Allergan said sales of wrinkle remover Botox surpassed $1 billion for the first time.
For the first quarter, Allergan said it sees profits minus charges of about $138 million. Wall Street had been expecting $150 million.
Sales for the first quarter could be $830 million to $850 million.
