Allergan lifts earnings target, says no drug price hikes this year
Updated : July 26, 2018 10:05 PM IST
The remarks about curbing price hikes echoed sentiment from Allergan's peers including Pfizer, Merck and Novartis, as US President Donald Trump's administration intensifies efforts to tackle escalating healthcare costs.
Sales of Botox, as well as sales from Allergan's second most important drug, Restasis, exceeded Wall Street expectations by a comfortable margin in the second quarter ended June 30.
Investors have called for changes at the top at Allergan, following a series of setbacks to its pipeline of potential new drugs and a string of acquisitions that have taken the company's debt pile past $25 billion.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more