Allergan reports rising sales in third quarter

Allergan has published its financial report for the third quarter of 2010, highlighting a year-on-year net sales increase of 5.7 percent.

The company generated just under $1.2 billion (737.1 million pounds) in sales during the three months, with both its specialty pharmaceuticals and medical device business units experiencing growth.

David Pyott, Allergan's chairman of the board and chief executive officer, said he is "very pleased" with the company's performance during a quarter that saw the firm achieve key regulatory approvals in Europe, the US and Canada.

Among them was the European Medicines Agency's decision to ratify Ozurdex as the region's first treatment for macular edema in patients with retinal vein occlusion, while the UK's Medicines and Healthcare Products Regulatory Agency approved Botox as a chronic migraine therapy.

Allergan now expects its sales for the full year to fall between the range of $4.75 and $4.8 billion.

This represents an increase on its forecast from the second quarter, which predicted full-year sales of between $4.62 and $4.75 billion.