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BUSINESS BRIEFS.(TO THE POINT)
MEDICAL
Sales, guidance lift Allergan 7%
The maker of brand-name specialty drugs, including Botox, rose 6.5% to 95.23 after it reported 83 cents a share, 24% more than last year and 4 cents over views. Allergan's sales rose 19% to $606.1 mil. Its '05 outlook is for $3.26-$3.27 vs. views of $3.23. Q4 guidance matched views.
Medco misses, shares plummet
Medco Health Solutions, a provider of drug benefits management services, netted 53 cents a share in Q3, flat from a year ago but 7 cents under views. New customers and higher prices largely offset customer attrition and a shift toward generic drugs. Revenue rose 7% to $$9.3 bil. The stock tumbled 12% to 49.80.
Generic drugs raise the Barr
Barr Pharma's Q1 rose 73% to 85 cents a share as its line of generic drugs shined. Results beat views by 9 cents. Sales climbed 27% to $310 mil. Barr reaffirmed its full-year outlook of $2.95-$3.10; views were $3.08. Shares fell 1.5% to 56.55.
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