Allergan announces Q2 results, including net revenues of $3.7 billion

Allergan plc reported second quarter 2016 results, including total net revenues of $3.7% billion, a 2% increase compared with the prior year quarter, according to a press release.

The revenues were impacted by the loss of exclusivity on Nameda IR, but offset by key brands’ strong performances, according to the release.

“Allergan delivered another quarter of strong operating performances, while taking important steps to advance our evaluation as a focused Growth Pharma leader,” Brent Saunders, CEO and president of Allergan, stated in the release. “Our teams delivered strong revenues powered by robust performance from key brands, including Botox, Restasis, Linzess, Juvéderm and Lo Loestrin.

Saunders also reported that Allergan’s research and development team completed nine major regulatory submissions, including Xen for glaucoma and True Tear for dry eye, to the FDA this year.

He reported in the release that earlier in August, Allergan announced the completion of divesture of its Global Generics business, and a proposed divestiture of its Anda distribution business, both to Teva.

Allergan reported that GAAP operating loss from continuing operations in the second quarter 2016 was $488 million, while non-GAAP operating income from continuing operations during the same time period was $1.86 billion.

Adjusted EBITDA from continuing operations for the second quarter was $1.94 billion, compared with $2.08 billion in the same quarter of 2015, which was primarily due to the loss of exclusivity on Namenda IR, according to the release.

There was an 11% growth of U.S. Specialized Therapeutics net revenue, which was driving by strong growth in eye care, facial aesthetics and neuroscience, according to the release.

Reference: www.allergan.com