DUBLIN: Ireland-incorporated Allergan (NYSE: AGN) might have seen its third quarter revenue rise by 4.4% compared to the same period last year, but the $3.62 billion total was shy of analyst estimates of $3.68 billion.
The operating loss from continuing operations in the quarter, using generally accepted accounting principles (GAAP), was $266 million, down from $1.38 billion a year ago, with the company offloading two major assets in the last year to Israel’s Teva Pharmaceutical Industries (NYSE: TEVA), its generics arm Actavis and distribution business Anda, for a combined $41 billion.
Allergan has also bought a number of assets in recent months, including Tobira Therapeutics, a company that develops treatments for liver diseases, in a deal worth as much as $1.7 billion. The company’s $3.32 earnings per share, excluding special items, in the quarter, missed the average analyst estimate of $3.56.
