Allergan says second-quarter profit rose, announces cost cuts
July 21 (Reuters) - Allergan Inc, which is fighting off a hostile bid from Valeant Pharmaceuticals International Inc , on Monday said that its second-quarter profit and sales rose, and it announced $475 million in cost cuts.
The company said the reductions, which are part of its efforts to convince investors that it is a better value as a stand-alone company, would include 1,500 job cuts by the end of this year.
That 13 percent cut to its global headcount will help it deliver 2014 earnings per share of $5.74 to $5.80 and 2015 earnings per share of $8.20 to $8.40, it said. (Reporting by Caroline Humer and Ransdell Pierson; Editing by Lisa Von Ahn)