Drugmaker Allergan, which reported better than expected revenues and earnings in its second quarter, is putting off issuing guidance for future quarters following the company’s announcement last week that it’s selling its generic drug business to Teva Pharmaceuticals of Israel for $40.5 billion. It’s Allergan’s first full quarter since the merger of Actavis and Allergan. Allergan earned $4.41 per share, excluding special items, on revenues that more than doubled to $5.76 billion. Fueling the results- strong sales of a few signature products: wrinkle treatment Botox, Namenda which treats Alzheimer’s related dementia and Restasis, the eye drops. TheStreet’s Jim Cramer says he’s pleased by the drugmaker’s ability to execute on its core branded products. Allergan uses acquisitions to expand its product line, most recently with its $2.1 billion offer to buy Kythera Biopharmaceuticals in June. Brent Saunders, chief executive of Allergan, said there was ‘certainly more to come’ in terms of future acquisitions for which Allergan can dip into a $36 billion war chest. Shares of Allergan, which are up more than 50% over the past year, are much closer to their 52 week high than the low.
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