Allergan (AGN) Beats Q4 Earnings & Sales; Shares Up

Dublin, Ireland-based Allergan plc AGN is engaged in the development, manufacturing, marketing, sale and distribution of branded pharmaceuticals and select over-the-counter products.

Allergan has been actively pursuing deals to expand its portfolio especially its branded products offering. Having completed the acquisition of companies like Durata and Forest, Allergan acquired Botox maker, Allergan Inc., in Mar 2015. With this acquisition, Allergan, which was previously known for its strong presence in the generics market, finds itself in the company of the top 10 pharmaceutical companies across the world based on sales.

Allergan sold its generics and Anda distribution business to Teva in Aug and Oct 2016, respectively.

Allergan's earnings performance has been mixed so far, with the company beating expectations in three of the past four quarters and missing on one occasion. The average negative earnings surprise over the last four quarters is 0.50%.

Currently, Allergan has a Zacks Rank #3 (Hold), but that could definitely change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings Beat: Allergan's fourth-quarter earnings of $3.90 per share were above our consensus estimate of $3.79 per share.

Revenues Beat: Revenues also beat expectations. Revenues came in at $3.86 billion, up 7.1% from the year-ago period, and also beat the Zacks Consensus Estimate of $3.77 billion by 2.5%. Strong performance of key products like Botox and Linzess and new product launches partially offset the lower sales of established products like Namenda IR/XR and Asacol HD sales due to loss of exclusivity.

2017 Outlook: Allergan expects total net revenues in the range of $15.5 billion to $15.8 billion in 2017. The range was above the Zacks Consensus Estimate of $15.33 billion.

Adjusted earnings are expected in the range of $15.80-$16.30 per share. The Zacks Consensus Estimate stood at $15.91 per share.

Share Price Impact: Shares rose 1.4% in pre-market trading .

Allergan PLC. Price

Allergan PLC. Price | Allergan PLC. Quote

Check back later for our full write up on this AGN earnings report later !

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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