Allergan records growth in first quarter

Written by David Castillo

According to reports, Allergan’s first-quarter earnings grew by more than 40%. Still, the company projected second-quarter results to be beneath analysts’ expectations. Representatives called the second-quarter projection as “conservative.” The prediction was based on forecasts that were announced earlier in the year. The company’s shares fell by a little over 3% on Wednesday, but stock is up by 6% for the year. Experts attribute Allergan’s growth to the surging sales of the anti-wrinkle drug Botox, which is now being used for numerous medical applications. The company continues to seek approval for other applications of Botox, including overactive bladders and osteoporosis.

 

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