Allergan experiences growth in third quarter of 2012

Allergan has highlighted its strong business performance during the third quarter of 2012, during which it delivered encouraging results despite challenging economic conditions.

The company's total product net sales came to $1.39 billion (862.46 million pounds), up by 6.1 percent annually, with improved demand for pharmaceuticals offsetting a depressed performance for its medical device division.

During the quarter, the organisation was able to expand its collaborative relationship with Molecular Partners and open a major new research and development facility in New Jersey.

The firm expects to generate total sales of between $5.66 and $5.77 billion across 2012 as a whole, while it is also considering the strategic future of its obesity intervention business.

David Pyott, Allergan's chairman of the board, president and chief executive officer, said: "In the third quarter, Allergan again delivered solid earnings growth in spite of the strong US dollar relative to virtually all major currencies."

Earlier this month, the company received a licence from the UK's Medicines and Healthcare Products Regulatory Agency for the use of Botox in the management of urinary leakage among patients with multiple sclerosis or spinal cord injuries.