Allergan (AGN) Tops Q2 EPS by 8c; Boosts Forecast

(Updated - August 3, 2017 7:56 AM EDT)

Allergan (NYSE: AGN) reported Q2 EPS of $4.02, $0.08 better than the analyst estimate of $3.94. Revenue for the quarter came in at $4.01 billion versus the consensus estimate of $3.95 billion.

"At the midpoint of 2017, Allergan is delivering strong results from excellent execution by our 18,000 colleagues. With our strong first half performance and solid outlook for the remainder of the year, we are raising our full-year guidance," said Brent Saunders, Chairman and CEO of Allergan. "Revenue growth in the second quarter was powered by significant year-over-year gains from many of our top products, solid contribution from our launch products and successful integrations of LifeCell and ZELTIQ®. And our R&D team is making progress on every front, especially in advancing our six 'star' R&D programs, including the initiation of a Phase 3 study for cenicriviroc, or CVC, for the treatment of NASH."

"I'm proud of our colleagues who bring forward new ideas and build bridges with our customers to improve patient care. They act fast and drive results that make a difference," added Saunders.

Sees FY17 non-GAAP revenue of $15.85-$16.05 billion, versus prior guidance of $15.8-$16 billion and the consensus of $15.8 billion. Sees non-GAAP EPS of $16.05-$16.45 versus prior of $15.85-$16.35 and the consensus of $16.08.

For earnings history and earnings-related data on Allergan (AGN) click here.

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