Allergan reports Q4 sales increase, update on pending acquisition by Actavis

Allergan announced operating results for the quarter ended Dec. 31, with a declaration of a $0.05 per share fourth-quarter dividend, payable on March 20 to shareholders on record as of Feb. 9, according to a company press release.

The company reported total product net sales of $1.889 million, which reflected an increase of 13.8% compared with total product net sales in the fourth quarter of 2013.

Full-year 2014 therapeutic sales accounted for approximated 55% of Botox (onabotulinumtoxinA) sales, with an increase of approximately 15% compared with 2013, whereas full-year 2014 aesthetic sales accounted for approximately 45% of Botox sales, an approximate 10% increase over 2013, according to the release.

Allergan reported a fourth-quarter diluted earnings per share attributable to stockholders of $1.77, compared with $1.04 diluted earnings per share attributable to stockholders during the same period in 2013. Non-GAAP diluted earnings per share attributable to stockholders was reported at $2.17, demonstrating a 60.7% increase from the previous year, according to the release.

The release also provided updates on the pending acquisition of Allergan by Actavis:

On Nov. 17, 2014, Actavis and Allergan announced a definitive agreement in which Actavis will acquire Allergan for a combination of $129.22 in cash and 0.3683 Actavis shares for each share of Allergan common stock. The transaction is valued at approximately $66 billion.
On Jan. 12, 2015, Actavis and Allergan announced the U.S. Federal Trade Commission had granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in regard to the pending acquisition. The two companies also announced they had set close of business on Jan. 22 as the record date for determining shareholders who will be allowed to vote regarding the pending acquisition.
On Jan. 26, 2015, the two companies announced March 10 as the date set for respective special meetings of stockholders to be held in connection with the pending acquisition.
Allergan reported it will not be providing earnings or sales guidance for fiscal year 2015 because of the announced acquisition.

Reference: www.allergan.com.