Business & Finance
Allergan reports first quarter 2018 increase in net revenue to USD3.7 Billion
1 May 2018 -

Ireland-based pharmaceutical company, Allergan, has reported its financial results for the first quarter of 2018.

The company reported Q1 2018 GAAP continuing operations loss per share of USD0.99 and Q1 Non-GAAP performance net income per share of USD3.74. It also reported Q1 2018 GAAP operating loss from continuing operations of USD654.0m and Q1 non-GAAP adjusted operating income from continuing operations of USD1.76bn.

Brent Saunders, chairman and CEO of Allergan, said, '2018 is off to a strong start for Allergan with our first quarter results demonstrating solid execution on all fronts, including the R&D pipeline. Allergan is clearly focused on strong operational performance and disciplined capital allocation. Allergan revenues grew 3% driven by a 13% increase in our core business amid exclusivity challenges for older products, and our tight expense management enabled maintenance of strong margins. We drove strong cash flow, continued to pay down debt to further de-lever our balance sheet while accelerating and completing our USD2 billion share repurchase program.'