Allergan reports higher-than-expected fourth-quarter revenue

(Reuters) – Allergan Plc , which is being bought by Pfizer Inc , reported better-than-expected revenue, helped by strong performance in its U.S. brands segment, which sells products like Botox and Restasis eye drops.

Allergan said revenue from its U.S. brands rose 38 percent to about $2.5 billion in the quarter ended Dec. 31, accounting for 58.7 percent of the total revenue.

The Dublin-based company posted a net loss of $700.5 million, or $1.78 per share, compared with a loss of $732.9 million, or $3.34 per share.

GAAP results were impacted by acquisition-related expenses, the company said.

Excluding special items, Allergan earned $3.41 per share, while analysts were expecting a profit of $3.34 per share, according to Thomson Reuters I/B/E/S.

Revenue rose about 74 percent to $4.20 billion in the quarter, beating analysts’ average estimate of $4.19 billion.

The company also issued 2016 adjusted revenue forecast of about $17 billion, slightly shy of the analysts’ average estimate of $17.66 billion.

(Reporting by Amrutha Penumudi in Bengaluru; Editing by Shounak Dasgupta)

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