AGN's Q2 profits rose 23%, mostly on cost cutting. Net earnings increased to $171M but revenues fell 4% to $1.13B (partially from adverse FX moves).
Allergan reported weak Q1 earnings. Profits were down over 50% on steep declines in Botox sales.
Allergan's stock jumped by 10 % after Phase III results showed the anti-wrinkle drug Botox is effective in treating chronic migrane headaches
Allergan reports first quarter earnings of 92 cents and revenue of 887 million which were above expectations of 90 cents and 839 million in revenue.
The FDA approves Allergan's Silicone-filled breast implants on November 17th, 2006