Irvine’s Allergan Inc. and Alcon Inc., which has some 500 workers in Irvine, could see continued growth, an analyst said Monday.
In a client note, Citi Investment Research analyst Amit Bhalla, who is taking over coverage of the eye sector for the investment bank, said the companies could see gains from an aging population, technology innovations and expansion into fast-growing China and India.
Bhalla reaffirmed a “buy” rating on Allergan. In his note, he said Allergan’s strong point is its diversity. Allergan’s product lines include glaucoma treatments, other eye drugs, an obesity-fighting stomach band and flagship Botox for cosmetic and medical uses.
The analyst also reaffirmed a “buy” rating on Alcon, a Swiss-based maker of eye drugs and surgery products that’s being sold by Nestl & #233; SA for $39 billion to Novartis AG.
The analyst reaffirmed a “hold” rating on Santa Ana-based Advanced Medical Optics Inc., which makes eye surgery products and devices and contact lens care solutions.
In his note, Bhalla said he expected Advanced Medical’s growth to stall this year because of what he called lackluster sales in several key markets.
