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Botox for migraine provides added boost to Allergan

Botox sales up 14.3% for the quarter
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Botox maker Allergan ($AGN) is finding its fortune in the many uses of the product that has nothing to do with removing wrinkles. The company today reported profits of $324 million, or $1.06 per share, in the fourth quarter, up significantly from the $280 million, or 90 cents per share, from a year ago. Sales of its eye drugs, the company's biggest business, rose 7.1% to $706 million, Reuters reports. But earnings also were helped by a boost in Botox sales to $475 million. They climbed 14.3% from the same quarter a year ago. That was in large part tied to its use for treating migraine headaches. Worldwide revenues were $1.48 billion, up 7.4%. The company's earnings picture was generally in line with market expectations, Reuters says. Allergan likes to point out that Botox has been approved for 26 indications in 85 countries. And just a couple of weeks ago, it grabbed another. The FDA approved Botox as a treatment for adults with leaky bladders who don't respond to other drugs. Analysts have said that approval for overactive bladder could add more than $200 million a year to Botox sales. Story | More

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