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Allergan announces second quarter financial results

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Allergan reported a GAAP operating loss of $467 million, or $1.39 per share, in the second quarter of 2018 and a non-GAAP operating income of $1.97 billion, or $4.42 per share, an increase of 4.6% from 2017’s second quarter, according to a press release.

Net revenues were $4.124 billion compared with $4.007 billion a year ago.

The company’s total GAAP operating expenses decreased 14.9% to $1.19 billion for the quarter, while its non-GAAP expenses decreased from $1.22 billion in 2017’s second quarter to $1.13 billion. GAAP research and development costs increased from $489.4 million to $689.2 million, and non-GAAP research and development costs decreased from $393.9 million to $388.9 million.

In the eye care division, Restasis revenues decreased 5.4% to $318.2 million, Alphagan/Combigan revenues increased from $96.4 million to $98.1 million, and Ozurdex revenues increased 10.8% to $27.6 million.