Allergan (NYSE:AGN) reported an adjusted quarterly profit of $3.35 per share on Monday, although revenue was below expectations at $3.7 bn.
The drug-maker based out of Dublin, Ireland, released its second quarter numbers on Monday. The company highlighted strong operational performance and strong revenues from key brands in the generic, over-the-counter drug market. Allergan’s product line includes Botox, Restasis and Linzess, among other well-known offerings.
"2016 has been a year of significant, positive transition for Allergan,” Allergan CEO and President Brent Saunders said.
“On August 2, we announced the completion of the divestiture of our Global Generics business, and on August 3, announced the proposed divestiture of our Anda distribution business, to Teva. These steps position Allergan as a pure branded focused business able to maximize the power of its therapeutic areas and the promise of its leading Open Science pipeline of 65-plus mid-to-late stage development programs,” he added.
Allergan’s stock price was down 2.5% heading into the close of the market, at $247 per share.