(Reuters) – Allergan Plc raised its profit and revenue forecasts for the year on Tuesday as it beat expectations for quarterly profit, fueled by higher sales of its blockbuster anti-wrinkle injection Botox.
The Allergan logo is seen in this photo illustration November 23, 2015. REUTERS/Thomas White/Illustration/File Photo
The company has received a big boost from Botox over the past several years, but investors are now looking at Allergan’s pipeline for future drivers of growth.
“Many key R&D programs have made steady progress and we now anticipate five regulatory approvals over the next 18 months,” Chief Executive Officer Brent Saunders said.
Saunders, who stitched together the current version of Allergan through a series of deals to roll up several pharmaceutical companies in 2014, recently survived a vote