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Allergan Reports Fourth Quarter 2013 Operating Results

Allergan, Inc. (NYSE:AGN) today announced operating results for the quarter ended December 31, 2013. Allergan also announced that its Board of Directors has declared a fourth quarter dividend of $0.05 per share, payable on March 21, 2014 to stockholders of record on February 28, 2014. As a result of Allergan’s sale of 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 December 31, 2013:
  • Allergan reported $1.04 diluted earnings per share attributable to stockholders compared to $1.05 diluted earnings per share attributable to stockholders for the fourth quarter of 2012.
  • Allergan reported $1.35 non-GAAP diluted earnings per share attributable to stockholders compared to $1.12 non-GAAP diluted earnings per share attributable to stockholders for the fourth quarter of 2012, a 20.5 percent increase.

Product Sales from Continuing Operations

For the quarter ended December 31, 2013:
  • Allergan reported $1,659.6 million total product net sales. Total product net sales increased 14.6 percent compared to total product net sales in the fourth quarter of 2012. On a constant currency basis, total product net sales increased 15.6 percent compared to total product net sales in the fourth quarter of 2012.
    • Total specialty pharmaceuticals net sales increased 14.0 percent, or 15.0 percent on a constant currency basis, compared to total specialty pharmaceuticals net sales in the fourth quarter of 2012.
    • Total core medical devices net sales increased 17.0 percent, or 17.8 percent on a constant currency basis, compared to total core medical devices net sales in the fourth quarter of 2012.

“We are pleased to have once again achieved our double digit revenue and mid teens earnings per share growth aspirations for full year 2013 as we benefited from many regulatory approvals in the past few years,” said David E.I. Pyott, Allergan’s Chairman of the Board and Chief Executive Officer. “Furthermore, we look forward to delivering similar revenue and earnings growth in 2014.”

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