Allergan reports year-on-year growth in Q1 2013

Allergan has reported a net sales total of $1.43 billion (918.35 million pounds) for the first quarter of 2013, representing an 8.4 percent year-on-year increase.

During the quarter, the company saw an 8.1 percent increase in specialty pharmaceutical sales and a 10.4 percent rise in medical device revenues, while achieving a number of key strategic milestones.

It was able to agree a deal to purchase MAP Pharmaceuticals and restructure its collaboration agreement with Spectrum Pharmaceuticals, while also completing a review of its obesity intervention business, which is now set to be sold off.

The acquisition of MAP will also give the company access to Levadex, an inhalation-based aerosol therapy for the acute treatment of migraine in adults.

David Pyott, Allergan's chairman of the board, president and chief executive officer, said: "We are pleased with the rapid integration of SkinMedica, the completion of the MAP Pharmaceuticals acquisition and are committed to bringing Levadex as an innovative therapy for migraine to market."

Last week, the company welcomed the findings of Professor Sir Bruce Keogh's review into best practice for the cosmetic surgery industry in the UK, while highlighting Allergan's commitment to supporting the new standards.