Allergan Smashes in its Earnings Report

Biopharma company Allergan has reported stellar fourth-quarter adjusted earnings.

The company also revealed that the first of two key trials for its migraine treatment ubrogepant were successful.

For the fourth quarter, Allergan reported EPS of $4.86 while analysts had been calling for $4.74. Revenue at $4.33 billion was also ahead of the $4.28 billion that Wall Street had expected. Revenue was also 12% higher than the year ago quarter.

Net income of $3.05 billion, or $8.88 per share was higher than the loss of $70.2 million or 20 cents a share from the year ago period. After adjustments, the company earned $2.17 billion, or $4.86 per share.

The company’s Restasis saw $414.9 million in sales around the world.

It’s ACHIEVE 1 study had top-line results measuring ubrogepant 50 mg and ubrogepant 100 mg against a placebo in a single migraine attack of moderate-to-severe headache intensity.

The most common side effects in the study were nausea, drowsiness, and dry mouth. Noone had reported a frequency greater than 5%.

Chief research and development officer of the company, David Nicholsan, remarked, “We are pleased with the favorable results of our ACHIEVE I study, which support the efficacy, safety and tolerability profile of ubrogepant.”

“We are confident that ubrogepant, an oral calcitonin gene-related peptide (CGRP) receptor antagonist will be an option for the treatment of migraines in adults.”

Looking ahead, Allergan has forecast revenue in the range of $3.5 billion to $3.6 billion and EPS between $3.20 and $3.40. Analysts had been expecting revenue of $3.72 billion and EPS of $3.71.

Disclaimer: We have no position in Allergan plc. (NYSE: AGN) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

sophia-villa has 2098 posts and counting.See all posts by sophia-villa