Allergan reports 74% increase in Q4 net revenue

Allergan plc reported in a press release that net revenue from continuing operations increased 74% to $4.2 billion for the fourth quarter of 2015 compared to $2.4 billion in the same quarter in 2014.

In the fourth quarter, diluted earnings per share from continuing operations increased 33% to $3.41, compared to $2.57 in the same quarter a year before on a non-GAAP basis, according to the release.

“Allergan delivered another quarter of exceptional performance across each of our businesses,” Brent Saunders, CEO and president of Allergan, stated in the release

There was a GAAP loss from continuing operations per diluted share of $2.13, compare to GAAP loss from continuing operations per diluted share of $4.48 in the same quarter a year earlier.

Amortization and acquisition-related expenses, mainly the acquisition of Allergan in March and Kythera in October, and expenses resulting from acquiring the research and development assets from Mimetogen, impacted GAAP results, the release reported.

The results of the company’s Global Generics business was being reported as discontinued operations in the condensed consolidated statements of operations beginning with the third quarter 2015 because of the announced proposed divestiture of Allergan’s Global Generics business to Teva in July, according to the release.

“We have also made important progress with Teva on the planned divestitures of our Global Generics business,” Saunders stated in the release. “And in November, Pfizer and Allergan announced the proposed combination of the two companies. This bold step brings together the best strengths of both companies.”

Total global branded product revenues were $3.7 billion in the fourth quarter of 2015, compared with $1.9 billion in the same time period a year earlier. Highlights in the quarter included Botox revenues of $65 million, resulting from strong performance in both aesthetic and therapeutic indications, and Restasis revenues of $365 million during the time period, according to the release.

Reference: www.allergan.com