Dublin based Allergan’s revenue almost doubled
Allergan’s revenue has almost doubled as demand for the company’s branded pharmaceuticals and medical-aesthetics products soared.
Shares in the Dublin- based company are up 21% this year and results in its latest quarter easily topped analysts’ expectations.
Allergan, which makes Botox, recently confirmed it has been approached by Pfizer. Allergan would give Pfizer, whose revenues are expected to slide 3.3% this year, a boost in top-line growth.
A bid for Allergan, which has a market value of $113 billion, would be Pfizer’s second attempt to acquire a European rival, following its unsuccessfully courtship last year of Anglo-Swedish pharmaceuticals group AstraZeneca. Pfizer last month paid $15 billion to acquire US rival Hospira.
Allergan became the third-largest generic drugmaker in the US after combining with Actavis in March.
