Allergan sees significant growth during Q1 2016

Allergan has highlighted its strong performance during the first quarter of 2016, during which it delivered a net revenue total of $3.8 billion (2.64 billion pounds).

This represented a year-on-year increase of 48 percent, while on a non-GAAP basis, its diluted earnings per share from continuing operations increased 15 percent to $3.04.

The strong performance was driven by robust demand for its top global products within the US brands, US medical and international brands segments, with products such as Botox and Restasis among its top performers.

Allergan remains well positioned in each of its seven key therapeutic areas, meaning it expects to achieve further growth despite the recent cancellation of its planned merger with Pfizer.

Its net revenues for the full year are expected to be around $17 billion, while a new share repurchase programme of up to $10 billion of common stock has also been announced this week.

Brent Saunders, chief executive officer and president of Allergan, said: "As we look ahead, we see durable global brands with strong fundamentals, broad-based geographic expansion and many opportunities to continue growing our innovative business."