Botox boosts Allergan profit

New York/Westport: Allergan, the maker of Botox, said second-quarter profit rose 2.7% and raised its earnings forecast on higher sales of the wrinkle smoother and breast implants.

Net income increased to $246.6 million (€172m), or 79 cents a share, from $240.1 million (€169.2m), or 78 cents, a year earlier, the Irvine, California-based company said. Earnings, excluding some items, were 96 cents a share, topping the average estimate of 95 cents from 21 analysts surveyed by Bloomberg. Sales rose to $1.42 billion from $1.25bn a year ago.

Revenue from Allergan’s top-selling product, Botox, was $418m, up 16% from a year before and beating the $397.6m average estimate of seven analysts.

Demand for Botox has overcome the effects of a weak economy that normally hinder cosmetic sales, said Gary Nachman, a senior analyst at Susquehanna International Group in New York.