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Allergan reports increased profits for the year |
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Written by David Castillo
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Allergan reported an increase in profits, which they attribute to the increased sales of Botox—the famous anti-wrinkle drug.
The company’s earning also increased from $168 million last year to $179 million this year. Allergan also increased its global sales from $1.08 billion in 2008 to $1.13 billion in 2009. The numbers actually exceeded the predictions of the analysts.
Allergan’s forecast for earnings this year is ranged at $2.75 to $2.78. The company also believes that sales for the year will increase.
Consequently, Allergan stocks are on the upside. If Allergan’s predictions become true, then what analysts say may be true—Botox is recession-proof.
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