Allergan says it had a good start to 2017

9 May 2017

Shares of Botox-maker Allergan (NYSE: AGN) edged up 1.36%, after it posted first-quarter 2017 results that beat expectations and raised its full-year forecast.

Net revenue for the quarter increased 5.1% to$3.57 billion, just beating the average analysts’ estimate of $3.54 billion.

The Ireland incorporated company reported generally-accepted accounting principles (GAAP) operating loss from continuing operations in the first quarter 2017 was $906.0 million, primarily due to amortization, R&D-related charges and in-process research and development impairments. Non-GAAP adjusted operating income from continuing operations in the first quarter of 2017 was $1.6 billion, a decrease of 7% versus prior year quarter, impacted by higher operating expenses.

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