Allergan (NYSE:AGN) posted a slight 3rd-quarter decrease in profits on sales growth of 6.4% and tightened its sales and earnings outlook for the balance of 2012.
The Irvine, Calif.-based medical aesthetics company posted profits of $249.4 million, or 82¢ per share, on sales of $1.41 billion during the 3 months ended Sept. 30.
Allergan also said it’s looking at the option for its obesity intervention unit, "including among other things, a potential sale of that business unit," according to a press release. That division’s sales fell 12.3% during the quarter, to $37.4 million.
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Allergan’s total medical device sales dropped 4.0% compared with the same period last year, falling to $212.6 million.
"In the third quarter, Allergan again delivered solid earnings growth in spite of the strong U.S. dollar relative to virtually all major currencies," chairman, president & CEO David Pyott said in prepared remarks.
Allergan tightened its guidance for 2012, saying it now expects sales of $5.70 billion to $5.77 billion, from $5.65 billion to $5.80 billion. Adjusted earnings per share are forecast to be between $4.17 and $4.19, compared with $4.15 and $4.19 previously.
Fourth-quarter sales a expected to be $1.47 billion to $1.55 billion, with adjusted EPS pegged at between $1.18 and $1.20.