Allergan posts strong results which provoke reaction from potential suitor Valeant
Botox maker Allergan (NYSE: AGN) has reported strong quarterly results amid an ongoing buyout dispute with Quebecois pharma company Valeant (NYSE: VRX).
Sales were $1.79 billion, up 17.2% on last year’s figures, with specialty pharma sales increasing 14.3%. The company’s earnings stood at $312.5 million, up considerably from $227.5 million in the same quarter of 2013.
Earnings per share for the quarter were $1.78 on a non-GAAP (generally accepted accounting principles) diluted basis, representing a 44.7% increase from $1.23.
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