On Thursday, Irvine-based Allergan Inc., which is into making Botox, medical cosmetic products and other drugs, announced its Q3 profits which equaled Wall Street’s estimates. This gave a very positive outlook for the current quarter. Sales of the third quarter were reported at $1.13 billion, which is 4% more from the previous year. Analysts had been hoping for sales of $1.08 billion.

Sales of Botox also saw an increase of 3% from the previous year amounting to $328 million. In the previous quarter, the sales volume of Botox was low due to the decline in cosmetic procedures in the period of downturn. Sales of medical cosmetics were low by 11% from the previous year at $187 million and sales of eye drug rose to $535 million, i.e., 5% high from the past year.

The future profits for the current quarter are expected at $229.5 million to $235.6 million delivering revenue of $1.11 billion to $1.16 billion. Analysts on Wall Street were expecting a similar kind of estimate of sales at $1.10 million and revenue of $229.5 million from Allergan Inc.

This entry was posted on Friday, October 30th, 2009 at 2:25 pm and is filed under Venture Capital News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.