Q4: Allergan soars past estimates, again
- Allergan's 2014 revenues were up 14.7%, the company reported, with the biggest increases in specialty pharmaceuticals, eye-care sales, and medical devices.
- SG&A expenses decreased 2.9% and R&D expenses were down 7%.
- The $66 billion Actavis acquisition of Allergan is still underway.
Allergan is holding its own after dodging a hostile takeover bid from Valeant last year. Financial results were better than expected in terms of revenues and earnings for both the fourth quarter and the full fiscal year, with $1.6 billion in revenues for specialty pharmaceuticals, including Botox; $881.7 million in eye-care pharmaceutical sales (with significant contributions from Restasis); and $273.7 million in medical device sales.
Actavis has a lot to be happy about with these results. And some industry observers are asking if Allergan actually undersold itself in the impending merger. Once Actavis and Allergan merge, they will form one of the largest pharmaceutical companies in the world.