Allergan reports 7% increase in fourth quarter net revenues

Allergan reported $3.9 billion in net revenues in the fourth quarter of 2016, a 7% increase from the fourth quarter of 2015, according to a company press release. Full-year net revenues were up 15% to $14.57 billion.

The company credited strong performances from its facial aesthetics and eye care brands, as well as new product launches, for the increase.

“2016 was a year of transformation for Allergan. We are now a branded biopharmaceutical leader, focused on delivering sustainable revenue growth, advancing our pipeline, maintaining industry leading margins and allocating capital to maximize shareholder return,” Brent Saunders, chairman and CEO of Allergan, said in the release. “In the fourth quarter of 2016, we delivered against these priorities.”

GAAP operating loss from continuing operations was $900 million in the fourth quarter, with non-GAAP adjusted operating income from continuing operations of $1.87 billion. The company attributed the loss to research and development costs and impairments.

For the full year, GAAP operating loss from continuing operations was $1.8 billion, and non-GAAP adjusted operating income from continuing operations was $7.25 billion.

In the fourth quarter, Restasis and Ozurdex had net revenues of $393.1 million and $22.6 million, respectively, increases of 13% and 18%.

Lumigan revenues declined 9%, offsetting the 2% revenue increase from Alphagan and Combigan.

Botox Cosmetic revenues were up 18% in the fourth quarter to $199.4 million, while revenues for fillers and Kybella were $121.6 million and $12 million, respectively.

Breast implant revenues declined 9%.