Strong US brand sales boost Allergan revenues ahead of expectations

Ireland-headquartered drugmaker Allergan (NYSE: AGN) saw its shares rise 3.6% to $285.60 after it announced financial results that beat consensus expectations, with US branded product sales of the fourth-quarter of 2015 rising 38% to about $2.5 billion, accounting for 58.7% of total revenue.

Total revenue was up 74% to $4.20 billion in the quarter, beating analysts' average estimate of $4.19 billion. Net loss for the quarter was down slightly, at $700.5 million, or $1.78 per share, from $732.9 million, or $3.34 per share, a year earlier. Excluding special items, Allergan earned $3.41 per share, ahead of analysts’ expectations of $3.34, according to Thomson Reuters.

Allergan, the subject of the biggest M&A deal in the pharma sector ($160 billion from Pfizer), forecast 2016 adjusted revenue of some $17 billion, just short of the analysts' average estimate of $17.66 billion, according to a report from Reuters.