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BUSINESS
July 15, 2009 | Times Wire Reports
Allergan Inc. of Irvine sued Corona-based Watson Pharmaceuticals Inc., alleging infringement of a U.S. patent for Sanctura XR, a prescription medicine used to treat overactive bladder. Allergan, and business partners Endo Pharmaceuticals Solutions Inc. and Supernus Pharmaceuticals Inc., contend in a federal court complaint that Watson plans to market a generic version of Sanctura before the patent expires in 2025. Watson did not immediately comment.
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BUSINESS
May 2, 2009 | Bloomberg News
Allergan Inc., maker of the wrinkle-smoother Botox, reported Friday that its first-quarter profit fell 58% as the recession slowed sales of eye and beauty products. Net income dropped to $45 million, or 15 cents a share, from $108 million, or 35 cents, a year earlier, the Irvine company said. Profit excluding some items was 55 cents a share, beating by 2 cents the average analyst estimate. Revenue fell 6.4% to $1.01 billion, matching analysts' estimates. Sales of Botox dropped 18.2% to $297.
BUSINESS
March 28, 2009 | Roger Vincent
Struggling office landlord Maguire Properties Inc. sold an Orange County building Friday for $22 million to one of the tenants at the Irvine complex, pharmaceutical company Allergan. Allergan, which makes Botox, eye-care solutions and other products, bought the building at 18581 Teller Ave. in a deal that allowed it to take over Maguire's $20-million mortgage on the property. The 88,000-square-foot building is part of Allergan's headquarters campus.
BUSINESS
March 25, 2009 | Bloomberg News
Shares of Allergan Inc. rose 13% on Tuesday on speculation that the maker of Botox might be bought. Allergan surged $5.78 to $48.95 for its biggest one-day percentage gain since June 21, 1989. A report on the website DealReporter.com said London-based GlaxoSmithKline might be interested in acquiring Allergan, citing a person familiar with Glaxo's policy. Irvine-based Allergan agreed in 2005 to share promotion of Botox with Glaxo and jointly market two Glaxo migraine medicines.
BUSINESS
February 5, 2009
Botox maker Allergan Inc. said its fourth-quarter profit dropped 6%, and the company plans to lay off about 460 employees, or 5% of its workforce, as more customers put off cosmetic treatments. The Irvine company said in a conference call that patients were stretching out the time between getting wrinkle treatments and that therapeutic uses of Botox weren't immune to the economic slowdown either. Allergan said profit in the quarter ended Dec. 31 fell to $150.6 million, or 50 cents a share, from $160.
BUSINESS
December 6, 2008 | Associated Press
A panel of government experts said Friday that a glaucoma drug from Allergan Inc. appeared to be a safe and effective way to make eyelashes longer and fuller. Irvine-based Allergan, which makes Botox anti-wrinkle injections, has asked the Food and Drug Administration to approve its Lumigan formula to enhance eyelashes for patients 18 and older. The agency's panel of outside eye and skin specialists voted unanimously that the drug's benefits outweighed its risks.
BUSINESS
October 30, 2008 | times wire services
Spectrum Pharmaceuticals Inc. shares rose the most in six years after saying Allergan Inc. would pay it as much as $345.5 million to develop a bladder cancer drug. Irvine-based Spectrum leaped 47 cents, or 49%, to $1.42, the most since Oct. 1, 2002. Allergan, also based in Irvine, will pay $41.5 million now to Spectrum for the drug apaziquone and as much as $304 million more if the medicine reaches research, regulatory and sales goals. Apaziquone is being tested on people with non-muscle-invasive bladder cancer, the two companies said.
BUSINESS
July 31, 2008 | From Times Wire Services
Allergan Inc., maker of the wrinkle smoother Botox, said second-quarter profit rose 6.9% as overseas sales of facial treatments and prescription eye-care products helped the Irvine company weather a slowing U.S. economy. Net income increased to $147.3 million, or 48 cents a share, from $137.8 million, or 45 cents, a year earlier. Adjusted profit of 63 cents a share matched analysts' estimates. Revenue climbed 20% to $1.17 billion, topping the average estimate of $1.14 billion in a Bloomberg survey.
BUSINESS
July 10, 2008 | Lisa Girion, Times Staff Writer
More than a dozen Botox users and relatives filed a lawsuit Wednesday contending that the blockbuster wrinkle-buster injured them or killed their relatives, and they blamed maker Allergan Inc. for failing to warn them of the dangers. The suit, filed in Orange County Superior Court near Allergan's Irvine headquarters, links the toxin-based drug to three deaths, including one in March of a 69-year-old Texas nurse who received injections for neck and shoulder pain.
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