On Tuesday, drug maker Allergan reported better-than-expected first-quarter earnings results on the heels of stronger demand for aesthetic and eye care products. Specifically, Allergan reported that its adjusted income rose to $3.35 per share, on revenue of $3.57 billion for the quarter (ending March 31), compared with an adjusted income of $3.04 and $3.8 billion in sales from the same quarter last year.
As such, Wall Street now expects Allergan—regarded as the leader in aesthetics products—to report upwards of $3.30 earnings per share (minus some items) on a reported $3.54 billion in sales. In addition, Allergan now expects to see full-year revenue between $15.8 and $16 billion with an adjusted EPS between $15.85 and $16.35, with a midpoint of $16.10. Overall, Wall Street expects Allergan to post a revenue of $15.73 billion with an EPS of $16.05.
Allergan Chairman and CEO Brent Saunders comments, “2017 is a pivotal year for Allergan, and we started with a solid, well-executed first quarter. Many of our key brands continued to deliver significant year-over-year growth, led by BOTOX, our JUVÉDERM Collection of fillers, our Regenerative Medicine business, LINZESS and Lo LOESTRIN. We also saw strong performance from our newer launch products. We recently completed the acquisitions of LifeCell and ZELTIQ, adding to our leading position in medical aesthetics. We are focused on executing successful integrations of those businesses. And our R&D team continued to advance many of our six ‘star’ R&D programs and deliver FDA approvals, including VOLLURE XC and TrueTear.”
Indeed, investors in the company are quite likely to focus on Allergan’s program for treating non-alcoholic steatohepatitis (fatty liver disease), since the company made the initial announcement of its partnership with Novartis.
Saunders goes on to say, “These solid results and strong execution were delivered by our 18,000 global colleagues who continue to Be Bold. They are powering new ideas and building bridges with our customers to help them better care for their patients. They are acting fast and driving results that will continue to make a profound impact on global health and patient care. I thank them for their continued commitment as we focus on solid execution and delivering results for the remainder of 2017.”