22.02.2016 13:50:13

Allergan Expects 2016 Non-GAAP Net Revenues To Be About $17 Bln

(RTTNews) - Allergan Plc. (AGN) said that it expects 2016 total non-GAAP net revenues to be about $17 billion. Analysts polled by Thomson Reuters expect the company to report revenues of $17.66 billion for fiscal year 2016. Analysts' estimates typically exclude special items. Non-GAAP Branded Net Revenues are expected to be about $15 Billion reflecting strong double-digit growth.

Allergan's full year 2016 continuing operations standalone estimates are based on management's current belief about prescription trends, pricing levels, inventory levels and the anticipated timing of future product launches and events. Continuing operations includes the U.S. Brands, U.S. Medical, International Brands and Anda distribution segments.

Allergan reported exceptional performance with net revenue from continuing operations increasing 74 percent to $4.2 billion for the quarter ended December 31, 2015, compared to $2.4 billion in the fourth quarter 2014.

On a non-GAAP basis, earnings per share from continuing operations increased 33 percent to $3.41 for the fourth quarter 2015, compared to $2.57 in the fourth quarter 2014.

GAAP loss from continuing operations per share for the fourth quarter 2015 was $2.13, compared to GAAP loss from continuing operations per share of $4.48 in the prior year period. GAAP results were impacted by amortization and acquisition-related expenses, including license agreements, impairments, acquisition accounting valuation related expenses and severance associated with acquired businesses, mainly the acquisition of Allergan on March 17, 2015 and Kythera on October 1, 2015 and research and development (R&D) expenses resulting from the acquisition of R&D assets from Mimetogen. These results include Allergan results as of the date of the close of the acquisition, March 17, 2015.

As a result of the announced proposed divestiture of Allergan's Global Generics business to Teva on July 27, 2015, the financial results of the Company's Global Generics business are being reported as discontinued operations in the condensed consolidated statements of operations beginning with the third quarter 2015.

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