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Allergan Reports Third Quarter 2013 Operating Results

Allergan, Inc. (NYSE: AGN) today announced operating results for the quarter ended September 30, 2013. Allergan also announced that its Board of Directors has declared a third quarter dividend of $0.05 per share, payable on December 11, 2013 to stockholders of record on November 20, 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 September 30, 2013:
  • Allergan reported $1.10 diluted earnings per share attributable to stockholders compared to $0.82 diluted earnings per share attributable to stockholders for the third quarter of 2012.
  • Allergan reported $1.23 non-GAAP diluted earnings per share attributable to stockholders compared to $1.04 non-GAAP diluted earnings per share attributable to stockholders for the third quarter of 2012, an 18.3 percent increase.

Product Sales from Continuing Operations

For the quarter ended September 30, 2013:
  • Allergan reported $1,528.4 million total product net sales. Total product net sales increased 12.9 percent compared to total product net sales in the third quarter of 2012. On a constant currency basis, total product net sales increased 14.0 percent compared to total product net sales in the third quarter of 2012.
    • Total specialty pharmaceuticals net sales increased 12.8 percent, or 13.9 percent on a constant currency basis, compared to total specialty pharmaceuticals net sales in the third quarter of 2012.
    • Total medical devices net sales increased 13.4 percent, or 14.6 percent on a constant currency basis, compared to total medical devices net sales in the third quarter of 2012.

“We are pleased with our continued broad based double digit sales and earnings growth performance during the third quarter driven by both our pharmaceutical and medical device businesses,” said David E.I. Pyott, Allergan’s Chairman of the Board and Chief Executive Officer. “Furthermore, we are excited by the recent FDA approvals of JUVÉDERM VOLUMA™ XC and BOTOX® Cosmetic for crow’s feet lines.”

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