Allergan PLC (NYSE: AGN) reported its fourth-quarter financial results before the markets opened on Monday. The company said it had $3.41 in earnings per share (EPS) on $4.20 billion in revenue. That compares to consensus estimates from Thomson Reuters of $3.34 in EPS on revenue of $4.19 billion. In the same period of the previous year, it posted EPS of $3.91 and $4.06 billion in revenue.
In terms of guidance, for the full year the company expects to have net revenues of roughly $17 billion, with no material changes to the gross margin from current levels. Consensus estimates call for $16.01 in EPS on $17.66 billion in revenue.
In the fourth quarter, Allergan’s R&D department continued to develop its pipeline, which delivered roughly 10% of all U.S. Food and Drug Administration (FDA) new molecular entity (NME) approvals in 2015. This progress in the pipeline has allowed Allergan to progress and address patient needs within its key therapeutic areas.
Brent Saunders, CEO and president of Allergan, commented on earnings:
Allergan delivered another quarter of exceptional performance across each of our businesses. On a proforma basis, our team drove double-digit branded revenue growth powered by continued strong performance from key products in our U.S. Brands, U.S. Medical and International Brands segments. We also continued our focus on the transformation of Allergan into a branded Growth Pharma leader. I would like to thank our 30,000 employees around the world for their dedication and commitment to delivering important medicines to customers and patients globally.
Cash flow from operations for the fourth quarter totaled $1.6 billion, while cash and marketable securities totaled $1.1 billion at the end of the period.
Shares of Allergan traded more than 3% to $284.36 Monday morning, with a consensus analyst price target of $367.40 and a 52-week trading range of $237.50 to $340.34.
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