Shares in maker of Botox climb

Shares in Allergan climbed the most in three years after second-quarter earnings beat analyst estimates and the company raised the lower end of its full-year forecast.

Allergan gained 4.7% to $85.95 in New York yesterday. Earnings excluding some items of $1.07 a share beat by 1c the average of 22 analyst estimates compiled by Bloomberg.

Earnings for 2012 will be $4.15 to $4.19 a share, the company said. Botox sales increased 10% to $461.2m (€377.3m) in the second quarter, while revenue from southern Europe wasn’t hurt by the debt crisis, the company said.