Allergan highlights first-quarter growth for 2012

Allergan has published its financial results for the first quarter of 2012, highlighting a nine percent year-on-year increase in total product net sales to $1.37 billion (843.44 million pounds).

During the three-month period, the company saw a 10.8 percent annual rise in specialty pharmaceutical sales and a 0.8 percent uptick in medical device revenues, while progressing a number of key pipeline developments.

Notably, the firm reported positive phase III trial data from two new studies of its leading product Botox as a therapy for idiopathic overactive bladder, while also submitting regulatory applications for this indication in the US, Canada and Europe.

David Pyott, Allergan's chairman of the board, president and chief executive officer, said: "In the first quarter Allergan delivered strong operating results as we continued to benefit from product approvals and operating in many growing markets."

Allergan's outlook for the full-year period remains unchanged, with net sales of between $1.45 and $1.5 million forecast for the second quarter.

The company is looking to build on its strong results from last year, during which it experienced an annual growth rate of 7.2 percent.