Botox maker Allergan Inc. said Wednesday that its first-quarter profit fell 6 percent on one-time costs related to a new collaboration on an experimental migraine drug and other items.
Allergan said its profit decreased to $158.3 million, or 51 cents per share, from $167.9 million, or 55 cents per share, a year earlier. Excluding an upfront payment from its collaboration on the migraine drug candidate Levadex, amortization costs, and other items, the company said it earned 77 cents per share. Revenue rose 10 percent, to $1.27 billion from $1.15 billion.
Analysts expected a profit of 74 cents per share and $1.21 billion in revenue, according to FactSet. The analysts' estimate excludes one-time items.
