Dublin, Ireland-based Allergan plc (AGN) is engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (OTC) pharmaceutical 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’s earnings track record is strong with the company delivering positive earnings surprises in the last four quarters with an average surprise of 5.35%. Estimate revisions are however mostly on the downward side with analysts lowering their estimates for 2015. Allergan, which has entered into a deal to sell its generics business to Teva, intends to treat the generics segment as discontinued operations from the third quarter.
Currently, AGN 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:
In-Line Earnings: AGN’s second quarter earnings of $4.41 per share were in-line with our consensus estimate.
Revenues Fall Short: Allergan posted revenues of $5.755 billion, just shy of consensus estimates of $5.785 billion.
Key Stats: Branded products like Botox, Restasis and Namenda XR brought in sales of $632 million, $325 million and $205 million, respectively.
Check back later for our full write up on this AGN earnings report later!
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