Allergan (NYSE: AGN) announced its second quarter earnings and a dividend of $.05 a share. The company can afford it. Allergan made $242 million in net income on $1.27 billion in sales. The specialty healthcare company reported $0.78 diluted earnings per share attributable to stockholders compared with $0.58 for the second quarter of 2009.
Allergan describes itself as a company that uncovers the best of science and develops treatments to help people reach their life’s potential. That is certainly true in terms of its Botox treatments which take wrinkles out of the skin to improve the appearance of aging. Botox is also used to increase the size of the lips. Sales of the product reached $360 million, and Allergan expects them to hit revenue of between $1.36 billion and $1.39 billion for the 2010 year.
Sales of the product have not been without trouble. The FDA has raised concerns about the treatment’s side effects. Some patients who are treated with Botox apparently experience chronic migraines.The vanity pharma business is clearly growing as sales of treatments like Botox and plastic surgery procedures increase. Interest in plastic surgery spawned the hit TV show “Nip Tuck.”
Botox treatments are often less expensive than surgery, which means that youthfulness is available to a larger part of the population. In the meantime, sales of pain killers and migraine drugs are going up. One form of medicine helps sales of another. It is a cycle where everyone makes money.
Douglas A. McIntyre
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.