Botox Maker Beats Q4 Revenue Projection

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By Jacob Maslow

Dublin-based pharma company Allergan Plc (N:AGN) posted better-than-expected revenue on Monday.

The positive figures were due largely to the strong performance of its brand segments in the United States, the company said.

Revenue from the drug maker’s U.S. brands climbed 38% to about $2.5 billion in the last three months leading to Dec. 31, accounting for more than half, or 58.7% of the the company’s total revenue.

Multiple drugs across the company’s portfolio recorded double-digit sales increases in the 4th quarter, bannered by a 43% increase in Botox revenue to $655.7 million. Botox accounted for 16% of the Allergan’s top line, down from 19% during the same period last year. The company’s second best-selling drug by revenue, Restasis, saw sales grow by 4.7% to $364.6 million.

The Dublin-based pharmaceutical company, which is in the process of being acquired by Pfizer Inc (N:PFE), reported a net loss of $700.5 million, or $1.78 per share.

Excluding special items, Allergan earned $3.41 per share, higher than analysts’ projections of $3.34 per share.

Company revenue grew about 74% to $4.20 billion in the quarter, surpassing analysts’ average estimate of $4.19 billion.

The company also revised its revenue forecast for 2016, downgrading it to about $17 billion, slightly lower than analysts’ average estimate of $17.66 billion.

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