Allergan Beats Estimates on Earnings

Allergan released its earnings report for the fourth quarter prior to the Wall Street opening bell on Monday, posting adjusted per share earnings of $3.41. That was in comparison to estimates by Wall Street analysts of EPS of $3.34.

Revenue at the pharmaceutical company was $4.2 billion, which ended in line with market expectations.

The maker of Botox posted $2.4 billion in revenue and adjusted per share earnings of $2.57 in the fourth quarter one year ago.

Allergan reported $1.78 a share losses, which marked a substantial improvement from the per share losses of $3.34 from last year.

Adjusted EBITDA from its continuing operations was $2 billion, an improvement of $2 billion from $923 million during the same quarter one year ago.

Amortization, acquisition expenses, impairments, severance payments relating to the Kythera and Allergan acquisitions and licensing agreements all had impacts that were negative on the GAAP results of the company.

In addition, the company started reporting its Global Generics business with its discontinued operations as it is preparing to sell that to Teva Pharmaceuticals. The International brands, U.S. Brands, Anda Distribution and U.S. Medical businesses remain in its continuing operations.

The U.S. Brands division recovered $2.5 billion in net revenues during the fourth quarter, while its U.S. Medical division had net revenues during the quarter of $490 million.

Allergan’s International Brands earned revenue of more than $690.8 million, while its Anda Distribution business reached net revenues of more than $547 million.

Allergan management announced they were expecting revenue for its full year to end at close to $17 billion, which is short of estimates on Wall Street of approximately $17.7 billion.

Company officials expect brand net revenues for non-GAAP to be close to $15 billion.

Allergan Ordinary Shares were not changed from the close on Friday of $275.25, when this article was published.

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