Allergan boosted by Botox sales

Allergan has announced profits of $249.8 million (156.2 million pounds) for the third quarter of the year, helped by increased sales of Botox.

Global sales of the anti-wrinkle treatment, which is also now approved for the treatment of migraines and urinary incontinence in some markets, rose 16 percent year on year to reach $396.7 million.

Chief executive David Pyott told the Financial Times there was no indication of a reduction in demand for Botox in Europe, despite the financial problems currently facing the continent.

"My surmise is that societal forces of people wanting to look younger and better are overpowering the economic environment," he commented.

Mr Pyott added that many of Allergan's European markets appear to be "growing by double digits" in the face of gloomy economic predictions and deepening austerity.

The company said it now expects full-year net profits to fall between $5.29 billion and $5.37 billion, with Botox bringing in between $1.57 billion and $1.60 billion.