Allergan reports 5% increase in Q1 net revenues

Allergan reported its first quarter 2017 continuing operations performance, including total net revenues of $3.6 billion, a 5% increase compared with the prior year quarter.

The increase was driven by higher revenues in facial aesthetics, Botox Therapeutic, eye care products, Lo Loestrin, and the addition of LifeCell and new products including Vraylar and Viberzi, according to a news release from Allergan.

“Many of our key brands continued to deliver significant year-over-year growth, let by Botox, our Juvéderm collection of fillers, our regenerative medicine business, Linzess and Lo Loestrin,” Brent Saunders, Allergan chairman and CEO, stated in the release. “We also saw strong performance from our newer launch products. We recently completed the acquisitions of LifeCell and Zeltiq, adding to our leading position in medical aesthetics.”

GAAP operating loss from continuing operations for the quarter was $906 million, which was primarily due to amortization and research and development-related charges. There was a non-GAAP adjusted operating income from continuing operations of $1.6 billion for the first quarter of 2107, a 7% decrease compared with the prior year quarter, which was impacted by higher operating expenses, according to the release.

There was a 14% growth in U.S. specialized therapeutics net revenues in the first quarter compared with the prior year quarter, primarily due to the growth in facial aesthetics, Botox Therapeutic and the addition of Alloderm, Allergan reported.

In the eye care franchise, Restasis net revenues grew 3% in the first quarter of 2017, while the glaucoma franchise had a modest decline with Alphagan/Combigan net revenues remaining stable and Lumigan/Ganfront net revenues decreasing by 9% compared with the prior year quarter, according to the release.

Reference: www.allergan.com