Botox maker Allergan today reported a better-than-expected quarterly profit and raised its full-year forecast for adjusted net income.
The company's improved profits came on the back of higher sales of its medical aesthetics products including the blockbuster wrinkle treatment.
Sales of Botox, its biggest drug by revenue that is also used in treating chronic migraine and overactive bladders, jumped 14.5% to $817.3m in the first quarter.
The company's aesthetics unit, which also sells products to remove excess body fat, posted a near 30% jump in sales.
Allergan, which is based in Dublin, has been conducting a strategic review of its business and considering acquisitions and divestitures.
It backed away from a bid for Shire earlier this month, after confirming reports that it was mulling an offer for the rare-disease specialist.
The company managed to grow its revenue despite "exclusivity challenges" for older products, chief executive officer Brent Saunders said in a statement
US sales of Allergan's eye drug, Restatsis, which is expected to face competition from cheaper drugs, fell 17.2%.
The company now expects 2018 adjusted earnings of $15.65 to $16.25 per share, slightly above its previous forecast of $15.25 to $16 per share.
Net loss attributable to shareholders was $332.5m, or 99 cents per share, compared with $2.63 billion, or $7.86 per share, a year earlier.
Excluding one-time items, Allergan reported a profit of $3.74 per share, topping analysts' expectations of $3.36, according to Thomson Reuters.
The company's total revenue rose 2.8% to $3.67 billion, topping analysts' average estimate of $3.59 billion.