Allergan, Inc. Reports Sales Gains for First Quarter

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IRVINE, Calif.— Allergan, Inc. (NYSE: AGN) announced operating results for the quarter ended March 31, 2013.

The company reported $1,432.5 million total product net sales. Total product net sales increased 8.4 percent compared to total product net sales in the first quarter of 2012. On a constant currency basis, total product net sales increased 9.0 percent compared to total product net sales in the first quarter of 2012. Allergan’s overall net profit grew 21.8 percent to $360 million, compared with $295.4 million a year earlier for the period.

Allergan’s total specialty pharmaceuticals net sales increased 8.1 percent to $1,231.9 million, or 8.7 percent on a constant currency basis, compared to total specialty pharmaceuticals net sales in the first quarter of 2012. Eyecare pharmaceuticals’ sales were $668.6 million of that total in the first quarter, a 2.5 percent increase from the prior year period.

Total Allergan medical devices net sales across all categories of business increased 10.2 percent, or 10.5 percent on a constant currency basis, compared to total medical devices net sales in the first quarter of 2012. Within that total, Allergan’s total glaucoma products, including the Alphagan and Lumigan franchises, were $260.4 million for the first quarter ended March 31, 2013, compared to $264.9 million in the prior year. Sales of Allergan’s Restasis reached $206.7 million in Q1, an 11.3 percent increase compared to the first quarter of 2012.

"In the first quarter, Allergan generated strong sales and earnings growth," said David E.I. Pyott, Allergan's chairman, president and CEO. "We are pleased with the rapid integration of SkinMedica, the completion of the MAP Pharmaceuticals acquisition and are committed to bringing Levadex as an innovative therapy for migraine to market." Allergan completed the acquisition of MAP Pharmaceuticals, a biopharmaceutical company focused on developing and commercializing new therapies in Neurology,

For the full year of 2013, Allergan said it expects total product net sales to reach between $5,975 million and $6,200 million, which excludes the obesity intervention business, which the company plans to divest. Further, it anticipates total specialty pharmaceuticals net sales between $5,175 million and $5,340 million and total medical devices net sales between $800 million and $860 million. It anticipates its Alphagan franchise product net sales for the year to be between $440 million and $470 million, its Lumigan product net sales to be between $630 million and $660 million and its Restasis product net sales to be between $850 million and $890 million.

On June 24, as VMail reported, Allergan announced that Pyott named Douglas S. Ingram as president of Allergan. In this newly established role, Ingram will report directly to Pyott and will lead the company's global commercial operations, with responsibility for the company's broad portfolio of pharmaceutical, consumer and medical device products.