Allergan quarterly profit beats on Botox sales

(Reuters) - Allergan Plc topped analysts' quarterly profit estimates on Thursday as demand rose for its medical aesthetic products, including blockbuster wrinkle treatment Botox.

The company also raised its full-year forecast for adjusted profit to range between $16 per share and $16.50 per share, from an earlier estimate of $15.65 to $16.25.

Sales of Botox, Allergan's best-selling product, jumped 14.5 percent to $934.5 million in the second quarter. This topped the average estimate of $718.7 million, according to Thomson Reuters I/B/E/S.

Excluding items, the drugmaker earned $4.42 per share, easily beating analysts' estimate of $4.13.

The company reported a smaller net loss attributable to ordinary shareholders of $472.5 million, or $1.39 per share, in the second quarter ended June 30, from $795.5 million, or $2.37 per share, a year ago.

 

Revenue rose 2.9 percent to $4.12 billion.

Allergan also said its board had authorized a new $2 billion share buyback program.

(Reporting by Manas Mishra in Bengaluru; Editing by Saumyadeb Chakrabarty and Sriraj Kalluvila)