Allergan doubles revenues in second quarter of 2015

Allergan has announced its financial results for the second quarter of 2015, during which it achieved a revenue total of $5.76 billion (3.68 billion pounds).

This represented a year-on-year increase of 116 percent, with diluted earnings per share rising 29 percent to $4.41. This substantial growth can be attributed to the recent acquisitions of Forest Laboratories and the subsequent merger of Actavis and Allergan.

During the quarter, which was its first as a combined company, it achieved operational excellence and double-digit growth across its branded and global generics businesses, while agreeing deals to acquire Kythera, Oculeve and Naurex.

It also confirmed the sale of its global generics business to Teva, as part of a planned shift towards becoming a world leader in the branded pharmaceuticals market.

Brent Saunders, chief executive officer and president of Allergan, said: "We continue to strengthen our leadership position in key therapeutic areas through a strong focus on organic productivity, while also executing business development agreements to complement and build on our position in those therapeutic areas."