Allergan’s Namesake Acquisition Looks Well-Timed As Established Brands Falter
Allergan’s net product revenue in the third quarter fell slightly below analyst consensus, but revenue from the company’s 2015 purchase of Botox, Restasis and other products softened declines for established products Namenda and Asacol.
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Allergan’s fourth quarter earnings came in above analyst consensus, making up for the third quarter when revenue was below projections. The company is confident that it will experience continued sales growth in 2017, despite competitive pressures for key products.
Acquisition strategy will likely be a prime focus as Gilead, Allergan, Sanofi and others face investors, especially in the wake of Johnson & Johnson’s buy-out of Actelion, ‘the one that got away’ from Sanofi.
Nothing deters investors more than missed quarterly financial expectations, pipeline attrition and formulary restrictions. Allergan, Pfizer and Shire contributed all three to the sector's investment proposition last week.