Allergan reports fourth quarter 2007 results

Allergan has reported its financial results for the fourth quarter of 2007, with the company’s chief executive officer highlighting “exceptional sales growth”.

David E I Pyott welcomed the operating results, indicating that they highlighted the firm’s strong performance across a range of businesses, products and geographic regions.

Total product net sales were $1,075 million, the first time sales had exceeded the one billion mark and an increase of 32 per cent compared to the same period in 2006.

In addition, full year total product net sales for 2007 reached $3.9 billion, a 29 per cent increase on 2006.

Following the release of the results, Mr Pyott outlined his expectations for the year up ahead.

“We are looking forward in 2008 to building on our strong momentum of creating and leading high growth markets through further product and geographic diversification,” he commented.

Allergan also announced that its board of directors has declared a fourth quarter dividend of $0.05 per share, payable to shareholders on March 7th 2008.

It has been revealed that Allergan is to collaborate with Clinique Laboratories to develop a skin care line for use in the medical aesthetics sector.