Allergan lifts outlook as Botox puffs sales

7 May 2019

Ireland incorporated drugmaker Allergan (NYSE: AGN) today reported its first quarter 2019 financial results including generally accepted accounting principles (GAAP) net revenues of $3.60 billion, a 2.0% decrease from the prior year quarter, but beating Wall Street’s average estimates of $3.54 billion.

GAAP operating loss in the first quarter of 2019 was $2.31billion, including the impact of impairments. Non-GAAP operating income in the first quarter of 2019 was $1.63 billion, a decrease of 7.6% versus the prior year quarter, impacted by lower operating margin and revenues due to the impact of divestitures, products that lost exclusivity and declines in textured breast implants and Restasis.

Excluding special items, the company earned $3.79 per share, well above the average analyst estimate of $3.55, according to Refinitiv IBES data.

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