Allergan's 3rd-qtr 2007 net income jumps 50%

US drugmaker Allergan's third-quarter 2007 net income rose almost 50% on the comparable period of last year, to $157.4 million, or $0.51 per share, boosted by strong sales of medical devices and specialty pharaceuticals. Analysts polled by Thomson Financial had predicted earnings of $0.58 per share.

During the period, Allergan's total net product sales reached $978.7 million, up 23.6%, or 20.9% at constant currency. Sales of specialty drugs rose 16.1%, while income from core medical devices jumped 66.0%, or 62.7% at constant exchange rates. On the day of the results announcement, shares in the firm rose $0.10 to $67.79.

Revenues from Allergan's anti-wrinkle treatment Botox (botulinum toxin type A) reached $296.7 million, an increase of 23% on the third quarter of 2006, while its eye care franchise grew 9.4% to $403.0 million.