Deals
Allergan Third-Quarter Profit Tops Estimates as Sales Climb
- Revenue from top drugs Botox, Namenda is short of estimates
- Company doesn't expand on previous comments on Pfizer deal
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Allergan Plc, Pfizer Inc.’s target in a deal that could be the largest health-care acquisition of all time, reported third-quarter earnings that topped analysts’ estimates as the company’s recent takeovers added to revenue.
Third-quarter profit excluding one-time items was $3.48 a share, topping estimates for $3.18 a share. Sales rose 90 percent to $4.09 billion, thanks to a series of deals by the company. On average, analysts had expected $4.03 billion.