* Q3 EPS excluding items of 78 cents meets analyst view
* Q3 sales rose 5.7 percent to $1.19 billion
* Raises full-year sales, profit forecasts
* Shares up more than 2 percent
(Rewrites, adds earnings details, share rise)
CHICAGO, Nov 1 Allergan Inc (AGN.N) reported
higher-than-expected quarterly sales of eye-care drugs and
breast implants and raised its full-year outlook on Monday,
sending its shares up more than 2 percent.
Third-quarter sales of eye-care pharmaceuticals including
Lumigan for glaucoma and Restasis for dry eye came in stronger
than analysts were expecting, as did breast implant sales,
while sales of the Botox anti-wrinkle drug met analysts'
The company, whose quarterly profit also was in line,
boosted its full-year 2010 earnings outlook to $3.14 to $3.16 a
share. In August, Allergan forecast full-year earnings of $3.11
to $3.15 a share.
It also raised its full-year sales outlook to $4.75 billion
to $4.8 billion from its previous forecast of $4.62 billion to
Allergan shares, which are trading near all-time highs
after the company in October received an expanded indication
for Botox to treat migraine headache, were up 2.1 percent to
$73.90 on the New York Stock Exchange.
Allergan reported a third-quarter net loss of $670.5
million, or $2.21 a share, compared with a profit of $239.2
million, or 58 cents a share, a year before.
Excluding special items, Allergan said it earned 78 cents a
share, up from 70 cents a share the year before.
Total net sales rose 5.7 percent to $1.19 billion.
Analysts on average had expected the Irvine,
California-based company to report earnings of 78 cents a share
on sales of $1.18 billion, according to Thomson Reuters
Eye-care pharmaceuticals sales rose 6.3 percent to $568.8
million in the quarter. Botox sales were up 4.2 percent to
$341.7 million. Breast implant sales increased 8.6 percent to
Sales of obesity interventions including the Lap-Band
surgical treatment fell 8.1 percent to $59.3 billion.
(Reporting by Susan Kelly, editing by Gerald E. McCormick,