Allergan sees Q1 losses despite sales up 17%

California USA-based Allergan has reported a loss of $444.8 million, or $3.29 per share for the first quarter of 2006. The company added that, if charges associated with its recent acquisition of fellow US firm Inamed on March 23 were excluded, it would have posted profits of $114.6 million, equalling $0.82 per share, for the period.

Despite its losses, Allergan also reported a 17% growth in its revenues, which reached $615.2 million for the quarter. The firm cites the increase in sales of Botox (botulinum toxin type-a), which rose 27% to $223.0 million, and the growth of revenues from its line of eye-care products, which were up 21% to $361.9 million, as the primary drivers of its sales expansion.

In addition, Allergan forecast adjusted second-quarter earnings per share of $0.82-$0.84 on revenue of $750.0-$770.0 million, with the continued integration of Inamed expected to lower earnings by between $0.02 and $0.05 per share. Financial analysts predict that the company's second-quarter earnings will be $0.89, with revenue hitting $757.7 million.