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Allergan Reports Second Quarter 2013 Operating Results

Stocks in this article: AGN

Allergan, Inc. (NYSE: AGN) today announced operating results for the quarter ended June 30, 2013. Allergan also announced that its Board of Directors has declared a second quarter dividend of $0.05 per share, payable on September 12, 2013 to stockholders of record on August 22, 2013. As a result of Allergan’s approved plan to sell its obesity intervention business unit, the financial results from that business unit are reported as discontinued operations in the financial tables of this press release. Prior year amounts have been retrospectively revised for the discontinued operations.

Operating Results Attributable to Stockholders from Continuing Operations

For the quarter ended June 30, 2013:

  • Allergan reported $1.17 diluted earnings per share attributable to stockholders compared to $0.96 diluted earnings per share attributable to stockholders for the second quarter of 2012.
  • Allergan reported $1.22 non-GAAP diluted earnings per share attributable to stockholders compared to $1.05 non-GAAP diluted earnings per share attributable to stockholders for the second quarter of 2012, a 16.2 percent increase.

Product Sales from Continuing Operations

For the quarter ended June 30, 2013:

  • Allergan reported $1,577.0 million total product net sales. Total product net sales increased 10.6 percent compared to total product net sales in the second quarter of 2012. On a constant currency basis, total product net sales increased 10.9 percent compared to total product net sales in the second quarter of 2012.
    • Total specialty pharmaceuticals net sales increased 11.1 percent, or 11.5 percent on a constant currency basis, compared to total specialty pharmaceuticals net sales in the second quarter of 2012.
    • Total medical devices net sales increased 7.4 percent, or 7.7 percent on a constant currency basis, compared to total medical devices net sales in the second quarter of 2012.

“In the second quarter, double digit sales and earnings growth is in line with our long term growth aspirations,” said David E.I. Pyott, Allergan’s Chairman of the Board and Chief Executive Officer. “We are also pleased with further R&D progress with the FDA Advisory Committee’s unanimous recommendation for JUVÉDERM VOLUMA™ XC and with the filing of OZURDEX® for diabetic macular edema in both the United States and Europe.”

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