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Botox maker’s earnings rise
Allergan said yesterday its fourth-quarter earnings rose 6.4 per cent, as higher sales of its eye drugs Lumigan and Restasis offset lower-than-expected sales of wrinkle treatment Botox. The company’s forecast for the year was lower than anticipated, sending its shares down 1.8 per cent in mid-morning trading, although some analysts consider the outlook to be conservative. Net income rose to $279.8m (£176.8m), or 90 cents a share, from $263m, or 85 cents a share, a year ago. Product sales rose 7.2 per cent to $1.38bn. Revenue rose to $1.4bn from $1.3bn.