Allergan Reports First Quarter 2012 Operating Results

Product and Pipeline Update

During the first quarter of 2012:

• On January 18, 2012, Senju Pharmaceutical Co., Ltd received approval from the Japanese Ministry of Health, Labour and Welfare for AIPHAGAN® P Ophthalmic Solution 0.1% for the reduction of intraocular pressure in patients with ocular hypertension and/or glaucoma. Senju possesses the rights to develop and market AIPHAGAN® P within Japan.
• On March 12, 2012, Allergan confirmed that U.S. District Judge Andrew J. Guilford, after conducting a full trial, ruled that Merz Pharmaceuticals and Merz Aesthetics violated California’s Uniform Trade Secrets Act and issued a permanent injunction against them.
• On March 28, 2012, Allergan announced that two Phase III clinical trials of BOTOX® (onabotulinumtoxinA) as a potential treatment option for patients with idiopathic overactive bladder met their pre-specified primary endpoints. Based on the results of the two Phase III clinical trials, Allergan submitted a supplemental biologics license application (sBLA) with the U.S. Food and Drug Administration (FDA) and an application with European Regulatory authorities seeking approval for the use of BOTOX® as treatment of overactive bladder with symptoms of urinary incontinence, urgency, and frequency, in adult patients who have an inadequate response to or are intolerant of an anticholinergic medication.

Following the end of the first quarter of 2012:

• Allergan submitted an application with Health Canada seeking approval for the use of BOTOX® as treatment of overactive bladder with symptoms of urinary incontinence, urgency, and frequency, in adult patients who have an inadequate response to or are intolerant of an anticholinergic medication.

Outlook

For the full year of 2012, all expectations provided on February 2, 2012 remain unchanged.

For the second quarter of 2012, Allergan expects:

• Total product net sales between $1,450 million and $1,500 million.
• Non-GAAP diluted earnings per share attributable to stockholders between $1.04 and $1.06.

In this press release, Allergan reports certain historical and expected non-GAAP results, including earnings attributable to Allergan, Inc., non-GAAP basic and diluted earnings per share attributable to stockholders as well as non-GAAP cost of sales, non-GAAP selling, general and administrative expenses, non-GAAP research and development expenses, non-GAAP amortization of acquired intangible assets, non-GAAP impairment of intangible assets and related costs, non-GAAP restructuring charges, non-GAAP interest expense, non-GAAP other, net, non-GAAP earnings before income taxes, non-GAAP provision for income taxes, non-GAAP net earnings and non-GAAP net sales reported in constant currency. Non-GAAP financial measures are reconciled to the most directly comparable GAAP financial measure in the financial tables of this press release and the accompanying footnotes. The information that accompanies the financial tables of this press release also includes an explanation of why Allergan uses these non-GAAP financial measures, certain limitations associated with the use of these non-GAAP financial measures, the manner in which Allergan management compensates for those limitations, and the reasons why Allergan management believes that these non-GAAP financial measures provide useful information to investors.

« First ‹ Previous 1 2 3 4 5 6 7 8 Next › Last »