Allergan Beats Earnings Estimates Ahead of Merger With Pfizer
Allergan reported a fourth quarter beat on both the top and bottom line as it prepares to complete it's merger with Pfizer.
Allergan (AGN) reported a fourth quarter earnings beat on Monday. The Dublin, Ireland-based drug company posted earnings per share of $3.41 a share, ahead of estimates of $3.34 share. Revenue stood at $4.2 billion, a 74% year-over-year increase, and slightly higher than the $4.19 billion analysts had expected. ‘It does seem like the Botox industry and the rebranding they’ve been doing over the last while has added well to revenue,’ said Brenda Kelly, head analyst at London Capital Group. Its $160 billion merger with Pfizer (PFE) is set to be completed during the latter part of 2016. Allergan is a holding of Jim Cramer’s charitable trust portfolio, Action Alerts PLUS. TheStreet’s Scott Gamm has details from Wall Street.
