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Allergan (AGN) Beats Q4 Earnings & Sales, Stock Up

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Dublin, Ireland-based Allergan plc (AGN - Free Report) is engaged in the development, manufacturing, marketing, sale and distribution of branded pharmaceuticals device, biologic, surgical and regenerative medicine 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.

In 2017, through the accretive acquisitions of LifeCell and ZELTIQ, Allergan has expanded its medical aesthetics business into regenerative medicine and body sculpting, respectively.

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

Allergan’s earnings performance has been strong, with the company beating expectations in each of the past four quarters. The average positive earnings surprise over the last four quarters is 1.95%.

Allergan PLC. Price and EPS Surprise


Allergan PLC. Price and EPS Surprise | Allergan PLC. Quote

Currently, Allergan has a Zacks Rank #4 (Sell), 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 $4.86 per share were above our consensus estimate of $4.74 per share.

Revenues Beat: Revenues came in at $4.33 billion which beat the Zacks Consensus Estimate of $4.28 billion by 1.2%, Revenues rose 12% from the year-ago period.

2018 Outlook: Allergan maintained its previously issued total sales guidance in the range of approximately $15.0 billion – $15.3 billion.

Meanwhile, the company said that it expects adjusted earnings in the range of $15.25 - $16.00 per share. Last month, Allergan had said it expected earnings of at least $15.25 per share in 2018.

Migraine Candidate Data: Allergan also announced that a phase III study evaluating its migraine candidate, ubrogepant met its co-primary endpoints. The ACHIEVE I study evaluated ubrogepant for treating a single migraine attack of moderate to severe headache intensity. The study data demonstrated that a “significant greater percentage of patients” treated with ubrogepant, at both the doses (50 mg and 100 mg), were free from pain at 2 hours after the initial dose as compared to those treated with placebo. Also, a statistically significant greater percentage of ubrogepant patients experienced absence of the “most bothersome migraine-associated symptom” at 2 hours after the initial dose compared to those treated with placebo.

Share Price Impact: Shares were up around 1% in pre-market trading.

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

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