Allergan Raises Profit Forecast as Valeant Pursues Bid
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Allergan Inc. raised its earnings forecast, bolstering the drugmaker’s defense against Valeant Pharmaceuticals International Inc.’s hostile takeover attempt.
Profit in the third quarter will be $1.76 to $1.78 a share, above the company’s previous forecast of $1.44 to $1.47, the company said in a statement today. Earnings this year, next year and in 2016 will be higher than analysts are estimating, the Irvine, California-based company said.