Allergan Q1 net earnings decrease

Allergan has reported net earnings attributable to shareholders of $44.7 million, or $0.15 per share, for the quarter ended March 31, 2009, compared to $107.7 million, or $0.35 per share, for the quarter ended March 31, 2008.

The company reported total revenues of $1.01 billion for the first quarter of 2009, compared to $1.08 billion for the first quarter of 2008. Allergan reported total product net sales of $994.6 million for the first quarter of 2009, a decrease of 6.3%, compared to $1.06 billion in the first quarter of 2008. On a constant currency basis, total product net sales decreased 0.4% when compared to the first quarter of 2008.

David Pyott, Allergan’s chairman of the board and CEO, said: “Our focused approach to the management of our costs as well as our businesses has once again allowed us to deliver solid financial results for the first quarter of 2009. Furthermore, we are making excellent progress in our launch efforts for Latisse (bimatoprost ophthalmic solution) 0.03% and are very pleased with the positive feedback we have received thus far from the market.”