Allergan riding high with 10% increase in branded product revenues
- Allergan is projecting more than $8 billion in revenues for the second half of 2015, with total EPS of $6.25 to $6.65 for this period.
- The $40.5 billion sale of Allergan's generics unit to Teva is expected to close in Q1 2016.
- In May, Allergan made full-year forecasts of $20.5 billion to $21 billion in revenues, with EPS of $17 to $18.
When Allergan sold its generics division to Teva in July, CEO Brent Saunders explained in a statement that the goal of the acquisition was to "accelerate Allergan’s evolution into a branded growth pharma leader." Allergan has aggressively moved in that direction this year, as it consolidated the Actavis/Allergan merger and set off on a buying spree.
Recently announced acquisitions have further strenghtened Allergan's brand portfolio. So far this year, Allergan has announced plans to acquire Kythera Biopharmaceuticals, Auden McKenzie Holding, Oculeve, Merck's migraine portfolio, Naurex Inc., and AqueSys.
Allergan's branded presence is growing wider and deeper every month. And as the sale of the generics unit closes in Q1 2016, Allergan expects to pay down debt and continue consolidating its position as a major player in the specialty pharmaceutical marketplace.