Allergan reports higher than expected Q4 revenue
Allergan, which is being bought by Pfizer, has today reported better than expected revenue.
The company said its results were helped by strong performance in its US brands segment, which sells products like Botox and Restasis eye drops.
Allergan said revenue from its US brands rose 38% to about $2.5 billion in the quarter ended December 31, accounting for 58.7% of the total revenue.
The Dublin-based company posted a net loss of $700.5m, or $1.78 per share, compared with a loss of $732.9m, or $3.34 per share.
Excluding special items, Allergan earned $3.41 per share, while analysts were expecting a profit of $3.34 per share, according to Thomson Reuters.
Revenue rose about 74% to $4.20 billion in the quarter, beating analysts’ average estimate of $4.19 billion.
The company also issued 2016 adjusted revenue forecast of about $17 billion, slightly shy of the analysts’ average estimate of $17.66 billion.
