Allergan Shares Jump on Better Than Expected Q1 Profit
Allergan shares surged on Tuesday after reporting better-than-expected first quarter earnings.
Allergan (AGN) - Get Report shares surged on Tuesday after reporting better-than-expected first quarter earnings. The pharmaceutical giant's adjusted net income of $3.04 a share eclipsed estimates of $3.01. Revenue of $3.8 billion - a 48 percent year-over-year increase - missed Wall Street's forecasts of $3.95 billion. Its top performing brands in terms of revenue during the quarter were Botox, Restasis and Namenda XR. Allergan also announced a share buyback program to the tune of $10 billion. TheStreet's Scott Gamm reports from Wall Street.
