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Allergan finishes 2016 with strong fourth-quarter growth
Allergan has announced its financial results for the fourth quarter of 2016, during which it generated a net revenue total of $3.9 billion (3.12 billion pounds).
This represents a seven percent year-on-year increase, which was driven by the strong performance of its facial aesthetics, therapeutic and eye care divisions, as well as key product lines such as Botox and Linzess.
For the full year, Allergan reported total net revenues of $14.57 billion, up by 15 percent compared to 2015. The scale of this growth reflects the broadened scope of the company's operations following recent acquisitions.
Nine further product launches are planned in 2017, with the firm's pipeline advancing a number of potential high-value treatments, including six promising projects that are entering or currently in phase III development.
Brent Saunders, chairman and chief executive officer of Allergan, said: "We are now a branded biopharmaceutical leader, focused on delivering sustainable revenue growth, advancing our pipeline, maintaining industry leading margins and allocating capital to maximise shareholder return."
The company expects to generate revenues in the range of $15.5 billion to $15.8 billion in 2017, driven by new product launches and the recent acquisition of LifeCell.
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