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Allergan's quarterly revenue rises 5.1 percent

  • Botox-maker Allergan reported a 5.1 percent rise in revenue on Tuesday, as sales of its newer medicines helped offset declines in its older drugs.
  • The company reported a first-quarter loss primarily due to amortization, research, and development related charges and in-process research and development impairments.
A clinical technician holds a syringe and a vial of Allergan Botox, produced by Allergan.
Jason Alden | Bloomberg | Getty Images
A clinical technician holds a syringe and a vial of Allergan Botox, produced by Allergan.

Botox-maker Allergan on Tuesday reported adjusted profit that beat analysts' estimates, and raised its 2017 forecast to include its $2.48 billion acquisition of Zeltiq Aesthetics.

Excluding items, Dublin-based Allergan earned $3.35 per share, helped by sales of its newer medicines and key products, including Botox.

Analysts on average expected earnings of $3.30 per share, according to Thomson Reuters I/B/E/S.

Allergan in February agreed to buy Zeltiq, a device that is designed to freeze fat away, adding to its line-up of aesthetic products.

The company raised its net revenue forecast to $15.8 billion to $16 billion, from $15.5 billion to $15.8 billion.

Net loss attributable to ordinary shareholders was $2.63 billion, or $7.86 per share, in the first quarter ended March 31, compared with a profit of $186.1 million, or 47 cents per share, a year earlier.

The company reported a first-quarter loss primarily due to amortization, research, and development related charges and in-process research and development impairments.

Amortization expenses from continuing operations was $1.74 billion, compared with $1.59 billion in the year-ago quarter. Net revenue for the acquisitive company rose to $3.57 billion from
$3.40 billion.