Allergan Inc. of Irvine said Wednesday that its second-quarter profit nearly doubled on higher sales of drugs, breast implants and wrinkle removers.
Allergan, maker of wrinkle remover Botox and other drugs, posted net profit of $137.8 million, up 86% from a year ago.
Excluding charges related to its 2006 buy of Inamed Corp., Allergan earned $164.7 million.
Analysts expected Allergan to earn $155.6 million in the quarter, excluding charges.
Revenue rose 23% to $988.1 million. Sales of breast implants and dermal fillers to smooth wrinkles were up 54%. Drug sales, including Botox, were up 16%.
Allergan also upped its third-quarter and 2007 outlook.
For the current quarter, Allergan said it expects adjusted profit of $170.8 million to $173.9 million on revenue of $940 million to $960 million.
Analysts expect the company to make $176.9 million on revenue of $926.1 million in the third quarter.
For 2007, Allergan said it now expects to earn $659 million to $665.1 million, excluding charges, on sales of $3.66 billion to $3.76 billion.
Allergan previously forecast revenue between $3.46 billion and $3.63 billion.
Wall Street expects Allergan to make $662 million on revenue of $3.68 billion.
