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Allergan revenue rises 4.4 percent; company expands buyback

Published 11/02/2016, 06:57 AM
Updated 11/02/2016, 07:00 AM
© Reuters. The Allergan logo is seen in this photo illustration
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(Reuters) - Allergan Plc (N:AGN) reported a 4.4 percent rise in quarterly revenue, lifted by higher demand for key products such as Botox and Restatis eye drops, and the company expanded its share buyback program by $5 billion to $15 billion.

Net revenue rose to $3.62 billion from $3.47 billion in the third quarter ended Sept. 30.

The company also initiated a regular quarterly cash dividend of 70 cents per share, payable in the first quarter of 2017.

Chief Executive Brent Saunders has orchestrated a string of acquisitions since the Dublin-based drugmaker's planned $160-billion merger with Pfizer Inc (N:PFE) collapsed in April, due to new U.S. tax regulations.

© Reuters. The Allergan logo is seen in this photo illustration

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