Botox-maker Allergan sees profits drop slightly in third quarter.

Allergan, the maker of anti-wrinkle treatment Botox, saw profits slightly lower in the third quarter.

The company which employs close to 1,000 people in Westport, Co Mayo, posted a profit of $249.4m, or 82 cents per share, in the third quarter compared with $249.8m (€194m), or 81 cents per share, a year earlier.

Allergan also said it was exploring a sale of its obesity business on falling sales of the only product in the unit.

Sales of Lap-Band fell 21% to $122.7m, while sales of most of Allergan’s products increased during the third quarter.

The unit accounted for about 4% of Allergan’s total revenue in 2011.

The company expects sales of $160m from its obesity intervention products unit for the full year. It sees total product net sales of between $5.69bn and $5.77bn.

Read the full article at http://www.irishexaminer.com/business/botox-maker-allergan-sees-profits-drop-slightly-in-third-quarter-212477.html

Source:  Business Reporter at http://www.irishexaminer.com/business/botox-maker-allergan-sees-profits-drop-slightly-in-third-quarter-212477.html on Wednesday, October 31, 2012