--> AGN +1.2% pre open
Allergan beats by $0.30, beats on revs; does not guide due to friendly discussions with Pfizer (PFE)
- Reports Q3 (Sep) earnings of $3.48 per share, excluding non-recurring items, $0.30 better than the Capital IQ Consensus of $3.18; revenues rose 90.1% year/year (Allergan and Actavis recently merged) to $4.09 bln vs the $4.03 bln Capital IQ Consensus.
- Total global branded product revenues were $3.5 billion versus $1.7 billion in the prior year quarter. Top key branded product highlights in the quarter included:
- Botox revenues in the third quarter of 2015 were $605 million, driven by continued strong performance in both aesthetic and therapeutic indications.
- Restasis revenues in the third quarter of 2015 were $328 million, driven by continuing strong promotional efforts.
- Namenda XR revenues in the third quarter of 2015 were $215 million, as prescriptions and formulary coverage remained stable following the loss of exclusivity of Namenda IR.
- At this time, as a result of the press release Allergan issued on October 29, 2015, confirming the co has been approached by Pfizer (PFE) and is in preliminary friendly discussions regarding a potential business combination transaction, the Company will not be issuing any financial forecasts that could require additional reporting under Rule 28 of the Irish Takeover Rules.
- Sale of generics biz to Teva (TEVA) expected to close in 1Q16.