Allergan, whose $160 billion merger with Pfizer fell apart last month, reported a 48 percent rise in quarterly revenue, led by a strong performance by its branded drugs business, which includes Botox and the eye drug Restasis.
Allegran shares were up more than 5 percent in Tuesday trading.
The Dublin drugmaker on Tuesday said the planned $40 billion sale of its generics business to Teva Pharmaceutical Industries will close next month and that it will use $8 billion of the money to pay down company debt.
Since the U.S. government torpedoed the merger, a deal that would have relocated Pfizer's legal domicile to Ireland to reduce Pfizer's taxes, investors have speculated Allergan might use the Teva proceeds for sizeable new deals.
However, Allergan Chief Executive Brent Saunders, in a conference call with industry analysts, said he was more interested for now in "stepping stone deals" valued at up to a few billion dollars meant to bolster the company's existing disease areas.