EX-99.1 2 tv499223_ex99-1.htm EXHIBIT 99.1

Allergan Reports Strong Second Quarter 2018 Results Including GAAP Net Revenues of $4.1 Billion



– Q2 2018 GAAP Loss Per Share of $1.39; Non-GAAP Performance Net Income Per Share of $4.42 –

– Q2 2018 GAAP Operating Loss of $467.0 Million; Non-GAAP Operating Income of $1.97 Billion –

– Q2 2018 GAAP Revenue Growth Driven by BOTOX®, VRAYLAR®, CoolSculpting®, JUVÉDERM® Collection of Fillers, LINZESS®, ALLODERM® and Lo LOESTRIN® –

– Allergan Continues to Advance R&D Pipeline Including Ubrogepant and Atogepant for Migraine, Abicipar for AMD and Bimatoprost SR for Glaucoma –

– Company Raises and Narrows Full-Year 2018 Non-GAAP Net Revenue and Non-GAAP Performance Net Income Per Share Guidance and Provides Select Third Quarter 2018 Guidance –

– Allergan Board of Directors Authorizes New $2.0 Billion Share Repurchase Program –

DUBLIN, July 26, 2018 /PRNewswire/ -- Allergan plc (NYSE: AGN) today reported its second quarter 2018 performance. Total second quarter 2018 GAAP net revenues were $4.12 billion, a 2.9 percent increase from the prior year quarter.

SECOND QUARTER 2018

 (unaudited; $ in millions, except per share amounts)


Q2 '18



Q2 '17



Q2 '18 v Q2 '17



Six

Months

Ended

June 30,

2018



Six

Months

Ended

June 30,

2017



2018 v 2017



Total net revenues


$

4,124.2



$

4,007.4




2.9

%


$

7,796.3



$

7,580.3




2.8

%




























Operating (Loss)


$

(467.0)



$

(902.4)




(48.2)

%


$

(1,121.0)



$

(1,808.4)




(38.0)

%


Diluted EPS - Continuing Operations


$

(1.39)



$

(2.35)




(40.9)

%


$

(2.39)



$

(10.20)




(76.6)

%


SG&A Expense


$

1,187.5



$

1,395.0




(14.9)

%


$

2,283.4



$

2,580.2




(11.5)

%


R&D Expense


$

689.2



$

489.4




40.8

%


$

1,163.9



$

1,249.3




(6.8)

%


Continuing Operations Tax Rate



1.1

%



44.8

%



(43.7)

%



47.7

%



25.4

%



22.3

%




























Non-GAAP revenues


$

4,099.2



$

4,007.4




2.3

%


$

7,771.3



$

7,580.3




2.5

%


Non-GAAP Operating Income


$

1,973.8



$

1,887.2




4.6

%


$

3,732.9



$

3,505.0




6.5

%


Non-GAAP Performance Net Income Per Share


$

4.42



$

4.02




10.0

%


$

8.16



$

7.37




10.7

%


Non-GAAP Adjusted EBITDA


$

2,086.2



$

2,027.2




2.9

%


$

3,955.9



$

3,761.4




5.2

%


Non-GAAP SG&A Expense


$

1,134.4



$

1,216.5




(6.7)

%


$

2,183.1



$

2,322.4




(6.0)

%


Non-GAAP R&D Expense


$

388.9



$

393.9




(1.3)

%


$

744.7



$

787.8




(5.5)

%


Non-GAAP Continuing Operations Tax Rate



14.3

%



13.1

%



1.2

%



14.2

%



13.1

%



1.1

%




























Executive Commentary
"Allergan's performance in the first half of 2018 demonstrates the strength of our strategy and a sharp focus on execution. We have driven strong growth in our key products and core business, delivered seven successful pivotal clinical trials for our key R&D programs and executed on our capital deployment strategy," said Brent Saunders, Chairman and CEO of Allergan.

"In the second quarter, our core business grew by 10.6 percent, led by Medical Aesthetics, BOTOX® Therapeutic, VRAYLAR® and LINZESS®. Overall non-GAAP revenues rose 2.3 percent, even amid ongoing exclusivity challenges for older products," said Saunders. "At the same time, the positive clinical trial results on programs for migraine, glaucoma and age-related macular degeneration highlight the promise of our business for years to come."

"I'm extremely proud of the global Allergan team for their excellent work in delivering results for our customers and patients. Allergan's many successes in the first half of 2018 demonstrate our commitment to driving long term value for shareholders."

Second Quarter 2018 Performance
GAAP operating loss in the second quarter 2018 was $467.0 million, including the impact of amortization and impairments. Non-GAAP operating income in the second quarter of 2018 was $1.97 billion, an increase of 4.6 percent versus the prior year quarter, driven by higher revenues and lower operating expenses.

Operating Expenses
Total GAAP Selling, General and Administrative (SG&A) Expense was $1.19 billion for the second quarter 2018, a decrease of 14.9 percent from the prior year quarter. Total non-GAAP SG&A expense decreased to $1.13 billion for the second quarter 2018, compared to $1.22 billion in the prior year period, driven in large part by a reduction in losses due to foreign exchange, as well as lower advertising and promotional expenses. GAAP R&D investment for the second quarter of 2018 was $689.2 million, compared to $489.4 million in the second quarter of 2017. Non-GAAP R&D investment for the second quarter 2018 was $388.9 million, compared to $393.9 million in the prior year quarter.

Asset Sales & Impairments, Net and In-Process R&D Impairments
Allergan incurred in-process research and development impairments in the three months ended June 30, 2018 of $276.0 million primarily due to a decrease in market opportunity based on clinical data relating to an eye care product acquired as part of the Allergan acquisition and timing delays in other non-strategic projects. Asset sales and impairments, net in the three months ended June 30, 2018 of $259.6 million were primarily related to an impairment on a non-strategic dermatology product held for sale based on estimates of current market value. The Company excludes asset sales and impairments, net and in-process research and development impairments from its non-GAAP performance net income attributable to shareholders as well as from Adjusted EBITDA and non-GAAP Operating Income.

Amortization, Other Income (Expense) Net, Tax and Capitalization
Amortization expense for the second quarter 2018 was $1.70 billion, compared to $1.76 billion in the second quarter of 2017. Other income (expense), net of $215.4 million in the three months ended June 30, 2018 was primarily attributed to a gain on selling the Company's remaining equity stake in Teva as well as a gain on the divestiture of a business previously held for sale. The Company's GAAP tax rate was 1.1 percent in the second quarter 2018. The Company's non-GAAP adjusted tax rate was 14.3 percent in the second quarter 2018. As of June 30, 2018, Allergan had cash and marketable securities of $1.70 billion and outstanding indebtedness of $25.35 billion.

SECOND QUARTER 2018 BUSINESS SEGMENT RESULTS

U.S. Specialized Therapeutics
U.S. Specialized Therapeutics net revenues grew 6.5 percent in the second quarter of 2018 from the prior year quarter to $1.83 billion, driven primarily by growth in Medical Aesthetics, including BOTOX® Cosmetic, ALLODERM® and the addition of CoolSculpting®, as well as growth in BOTOX® Therapeutic. Demand growth across the U.S. Specialized Therapeutics portfolio was offset in part by lower net selling prices for RESTASIS® and decreased revenues in Medical Dermatology due to generic pressure. Segment gross margin for the second quarter of 2018 was 91.9 percent, also impacted by CoolSculpting®. Segment contribution for the second quarter 2018 remained strong at $1.29 billion, an increase of 9.1 percent versus the prior year quarter.

Medical Aesthetics

  • Facial Aesthetics
    • BOTOX® Cosmetic net revenues rose 12.5 percent in the second quarter of 2018 from the prior year quarter to $236.5 million.
    • JUVÉDERM® Collection (defined as JUVÉDERM®, VOLUMA® and other fillers) net revenues in the second quarter of 2018 were $139.8 million, an increase of 10.8 percent versus the prior year quarter.
  • Regenerative Medicine
    • ALLODERM® net revenues in the second quarter of 2018 grew 26.6 percent from the prior year quarter to $107.1 million.
  • Body Contouring
    • CoolSculpting® net revenues (including both CoolSculpting® Systems/Applicators and Consumables) in the second quarter of 2018 were $108.3 million. The CoolSculpting® acquisition closed on April 28, 2017.

Neurosciences & Urology

  • BOTOX® Therapeutic net revenues in the second quarter of 2018 were $404.7 million, an increase of 16.7 percent versus the prior year quarter.

Eye Care

  • RESTASIS® net revenues in the second quarter of 2018 were $318.2 million, a decrease of 5.4 percent versus the prior year quarter.
  • ALPHAGAN®/COMBIGAN® net revenues in the second quarter of 2018 were $98.1 million, compared with $96.4 million in the prior year quarter.
  • OZURDEX® net revenues in the second quarter of 2018 increased 10.8 percent from the prior year quarter to $27.6 million.

U.S. General Medicine
U.S. General Medicine net revenues in the second quarter 2018 were $1.32 billion, a decrease of 7.5 percent versus the prior year quarter, impacted by lower revenues from NAMENDA XR ® and ESTRACE® due to generic competition, offset by strong demand growth from VRAYLAR®, LINZESS®, Lo LOESTRIN® and anti-infectives including AVYCAZ®. Segment gross margin for the second quarter of 2018 was 84.7 percent. Selling and marketing expenses in the segment were $254.8 million, a decrease of 11.6 percent versus the prior year quarter, due in part to sales force expense reductions as a result of previous restructurings. Segment contribution for the second quarter 2018 was $828.7 million.

Central Nervous System

  • VRAYLAR® net revenues grew 72.2 percent in the second quarter of 2018 from the prior year quarter to $114.2 million.
  • VIIBRYD®/FETZIMA® net revenues in the second quarter of 2018 were $86.7 million, compared with $85.2 million in the prior year quarter.
  • NAMENDA XR® net revenues in the second quarter of 2018 were $3.4 million, versus $118.7 million in the prior year quarter, impacted by loss of patent exclusivity for NAMENDA XR® in February 2018.

Gastrointestinal, Women's Health & Diversified Brands

  • LINZESS® net revenues in the second quarter of 2018 were $191.8 million, an increase of 14.3 percent versus the prior year quarter.
  • Lo LOESTRIN® net revenues in the second quarter of 2018 were $127.8 million, an increase of 13.1 percent versus the prior year quarter.
  • BYSTOLIC®/BYVALSON® net revenues in the second quarter of 2018 were $148.1 million, compared to $150.7 million in the prior year quarter.

International
International net revenues in the second quarter of 2018 were $948.9 million, an increase of 8.1 percent versus the prior year quarter excluding foreign exchange impact, driven by growth in Medical Aesthetics, Eye Care and BOTOX® Therapeutic. Segment gross margin for the second quarter of 2018 was 85.3 percent. Segment contribution was $529.4 million.

Facial Aesthetics

  • BOTOX® Cosmetic net revenues in the second quarter of 2018 were $171.4 million, an increase of 14.1 percent versus the prior year quarter excluding foreign exchange impact, driven by continued strong growth in Europe and Asia Pacific/Middle East/Africa.
  • JUVÉDERM® Collection net revenues in the second quarter of 2018 were $156.1 million, an increase of 11.2 percent versus the prior year quarter excluding foreign exchange impact, reflecting continued strong growth in Latin America/Canada and Asia Pacific/Middle East/Africa.

Eye Care

  • LUMIGAN®/GANFORT® net revenues in the second quarter of 2018 were $100.5 million, an increase of 1.6 percent versus the prior year quarter excluding foreign exchange impact.
  • OZURDEX® net revenues in the second quarter of 2018 were $67.9 million, up 27.5 percent versus the prior year quarter excluding foreign exchange impact, reflecting continued strong growth in all regions.

Botox Therapeutic

  • BOTOX® Therapeutic net revenues in the second quarter of 2018 were $104.6 million, an increase of 8.1 percent versus the prior year quarter excluding foreign exchange impact, reflecting growth in Europe and Latin America/Canada.

NEW SHARE REPURCHASE PROGRAM

Allergan's Board of Directors has authorized a new $2.0 billion share repurchase program as part of the Company's capital allocation strategy. Allergan expects to deploy the program over the next 12 months. The Company completed the $2 billion share repurchase that was previously authorized by the board in September 2017.

Allergan reaffirmed its commitment to maintaining investment grade credit ratings and achieving a net debt to adjusted EBITDA ratio of less than 2.5X by the end of 2020.

These actions reflect the Company's conviction in its strategy and strong future cash flow position, allowing for periodic return of cash to shareholders through dividends and share buybacks while maintaining investment grade ratings and continuing its strategy to pay down debt.

PIPELINE UPDATE

Allergan R&D continues to deliver on its pipeline. Key development highlights included:

Regulatory Milestones & Clinical Updates

  • Allergan announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for AGN-241751, an investigational new treatment for Major Depressive Disorder (MDD). AGN-241751 is a novel, oral NMDA modulator that recently entered Phase 2 development.
  • Allergan announced positive topline results in the second of two pivotal phase 3 clinical trials evaluating Ubrogepant, an orally-administered calcitonin gene-related peptide (CGRP) receptor antagonist for the acute treatment of migraine. The results from the ACHIEVE I (UBR-MD-01) and ACHIEVE II (UBR-MD-02) studies support the efficacy, safety and tolerability profile of Ubrogepant. Allergan anticipates filing of a New Drug Application (NDA) to the FDA in 2019.
  • Allergan announced positive results from a Phase 2b/3 clinical trial evaluating the efficacy, safety, and tolerability of Atogepant, an oral CGRP receptor antagonist in development for migraine prevention. Allergan will continue with its Phase 3 program for Atogepant following discussions with regulatory authorities.
  • Allergan and Molecular Partners announced two positive Phase 3 clinical trials on Abicipar for the treatment of neovascular age-related macular degeneration. The two identical studies demonstrated that both the 8-week and 12-week treatment regimens met the pre-specified primary endpoint of non-inferiority to Ranibizumab. The filing for Abicipar is planned for the first half of 2019. Allergan will be requesting a meeting with the FDA to discuss our Biologics License Application (BLA) submission.
  • Allergan announced positive topline Phase 3 results for Bimatoprost SR, the first-in-class sustained-release, biodegradable implant for the reduction of intraocular pressure in patients with open-angle glaucoma or ocular hypertension. Additional safety data from the study and results from a second Phase 3 study with an identical design will be reported in the first half of 2019. Allergan anticipates filing of an NDA to the FDA in the second half of 2019.
  • Allergan expanded the REFRESH® portfolio with the launch of REFRESH® REPAIR Lubricant Eye Drops. The over-the-counter artificial tear formulation is clinically proven to treat the signs and symptoms of dry eye and improve visual performance due to dry eye, while offering patients improved comfort with low incidence of visual disturbances.
  • On June 1, 2018, Allergan received approval in Japan for JUVÉDERM® VOLIFT® XC for the treatment of nasolabial folds.

THIRD QUARTER AND FULL YEAR 2018 GUIDANCE


Previous Guidance


Current Guidance


Twelve Months Ending December 31, 2018


Twelve Months Ending December 31, 2018

Full Year 2018

GAAP

NON-GAAP


GAAP

NON-GAAP







Total Net Revenues

~$15.150 - $15.350

billion

~$15.150 - $15.350

billion


~$15.475 - $15.625

billion

~$15.450 - $15.600

billion

Gross Margin (as a % of revenues)

~ 85.5% - 86.0%

~ 85.5% - 86.0%


~ 86.0% - 86.5%

~ 85.5% - 86.0%

SG&A Expense

~$4.350 billion

~$4.250 billion


~$4.450 billion

~$4.350 billion

R&D Expense

~$2.1 billion

~$1.5 billion


~$2.2 billion

~$1.55 billion

Net Interest Expense/Other Income (Expense)

~ $900.0 million

~ $900.0 million


~ $750.0 million

~ $900.0 million

Tax Rate

~ 50%

~ 14%


~ 45%

~ 14.5%

Net Income / (Loss) Per Share1

~ $(2.81) - $(2.20)

~ $15.65 - $16.25


~ $(3.08) - $(2.57)

~ $16.00 - $16.50

Average 2018 Share Count2

~ 339.0 million

~ 345.0 million


~ 339.0 million

~ 343.0 million

Cash Flow from Operations

~ $5.0 billion

N/A


~ $5.2 billion

N/A











Three Months Ending September 30, 2018

Quarter Ending September 30, 2018 Select Guidance




GAAP

NON-GAAP







Total Net Revenues




~$3.750 - $3.900 billion

~$3.750 - $3.900 billion

Net Income / (Loss) Per Share




~ $(0.31) - $(0.01)

~ $3.80 - $4.10







1  GAAP represents EPS for ordinary shareholders. GAAP (loss) per share includes the impact of amortization of approximately $6.5 billion, IPR&D impairments and asset sales and impairments, net of $1,075.0 million, select other income components of $125.0 million, net  and dividends on preferred shares through the date of conversion into ordinary shares. Non-GAAP represents performance net income per share.

2 GAAP EPS shares do not include dilution of shares as earnings are a net loss.  As such, the dilution impact of preferred share conversion and outstanding equity awards is not included in the forecasted shares.

SECOND QUARTER 2018 CONFERENCE CALL AND WEBCAST DETAILS
Allergan will host a conference call and webcast today, Thursday, July 26, at 8:30 a.m. Eastern Time to discuss its second quarter 2018 results. The dial-in number to access the call is U.S./Canada (877) 251-7980, International (706) 643-1573, and the conference ID is 67781714. A taped replay of the conference call will also be available beginning approximately two hours after the call's conclusion, and will remain available through 11:30 p.m. Eastern Time on August 26, 2018. The replay may be accessed by dialing (855) 859-2056 or (404) 537-3406 and entering the conference ID 67781714.

To access the live webcast, please visit Allergan's Investor Relations website at https://www.allergan.com/investors/events-presentations. A replay of the webcast will also be available.

Allergan Contacts:
Investors:
Daphne Karydas (862) 261-8006
Karina Calzadilla (862) 261-7328
Media:
Amy Rose (862) 289-3072

About Allergan plc

Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical leader. Allergan is focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world.

Allergan markets a portfolio of leading brands and best-in-class products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology and anti-infective therapeutic categories.

Allergan is an industry leader in Open Science, a model of research and development, which defines our approach to identifying and developing game-changing ideas and innovation for better patient care. With this approach, Allergan has built one of the broadest development pipelines in the pharmaceutical industry.

Allergan's success is powered by our global colleagues' commitment to being Bold for Life. Together, we build bridges, power ideas, act fast and drive results for our customers and patients around the world by always doing what is right.

With commercial operations in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives every day.

For more information, visit Allergan's website at www.Allergan.com.

Forward-Looking Statement

Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Allergan's current perspective on existing trends and information as of the date of this release. Actual results may differ materially from Allergan's current expectations depending upon a number of factors affecting Allergan's business. These factors include, among others, the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; the impact of competitive products and pricing; market acceptance of and continued demand for Allergan's products; the impact of uncertainty around timing of generic entry related to key products, including RESTASIS®, on our financial results; risks associated with divestitures, acquisitions, mergers and joint ventures; uncertainty associated with financial projections, debt reduction, projected cost reductions, projected synergies, restructurings, increased costs, and adverse tax consequences; difficulties or delays in manufacturing; and other risks and uncertainties detailed in Allergan's periodic public filings with the Securities and Exchange Commission, including but not limited to Allergan's Annual Report on Form 10-K for the year ended December 31, 2017 and Allergan's Quarterly Report on Form 10-Q for the period ended March 31, 2018. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.

The following presents Allergan plc's statement of operations for the three and six months ended June 30, 2018 and 2017:

Table 1



ALLERGAN PLC

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited; in millions, except per share amounts)





















Three Months Ended



Six Months Ended





June 30



June 30





2018



2017



2018



2017



Net revenues


$

4,124.2



$

4,007.4



$

7,796.3



$

7,580.3





















Operating expenses:


















Cost of sales (excludes amortization and impairment of acquired intangibles including product rights)



481.8




550.2




1,004.6




1,000.6



Research and development



689.2




489.4




1,163.9




1,249.3



Selling, general and administrative



1,187.5




1,395.0




2,283.4




2,580.2



Amortization



1,697.1




1,757.9




3,394.7




3,493.9



In-process research and development impairments



276.0




703.3




798.0




1,043.3



Asset sales and impairments, net



259.6




14.0




272.7




21.4



Total operating expenses



4,591.2




4,909.8




8,917.3




9,388.7



Operating (loss)



(467.0)




(902.4)




(1,121.0)




(1,808.4)





















Non-operating income (expense):


















Interest income



6.3




16.6




23.6




41.9



Interest (expense)



(230.0)




(277.4)




(480.6)




(567.1)



Other income (expense), net



215.4




(133.5)




136.6




(2,056.3)



Total other income (expense), net



(8.3)




(394.3)




(320.4)




(2,581.5)



(Loss) before income taxes and noncontrolling interest



(475.3)




(1,296.7)




(1,441.4)




(4,389.9)



(Benefit) for income taxes



(5.2)




(581.2)




(687.4)




(1,113.3)



(Loss) from continuing operations, net of tax



(470.1)




(715.5)




(754.0)




(3,276.6)



(Loss) from discontinued operations, net of tax



-




(8.4)




-




(11.5)



Net (loss)



(470.1)




(723.9)




(754.0)




(3,288.1)



(Income) attributable to noncontrolling interest



(2.4)




(2.0)




(4.6)




(3.0)



Net (loss) attributable to shareholders



(472.5)




(725.9)




(758.6)




(3,291.1)



Dividends on preferred shares



-




69.6




46.4




139.2



Net (loss) attributable to ordinary shareholders


$

(472.5)



$

(795.5)



$

(805.0)



$

(3,430.3)





















(Loss) per share attributable to ordinary shareholders - basic:


















Continuing operations


$

(1.39)



$

(2.35)



$

(2.39)



$

(10.20)



Discontinued operations



-




(0.02)




-




(0.03)



Net (loss) per share - basic


$

(1.39)



$

(2.37)



$

(2.39)



$

(10.23)



(Loss) per share attributable to ordinary shareholders - diluted:


















Continuing operations


$

(1.39)



$

(2.35)



$

(2.39)



$

(10.20)



Discontinued operations



-




(0.02)




-




(0.03)



Net (loss) per share - diluted


$

(1.39)



$

(2.37)



$

(2.39)



$

(10.23)





















Dividends per ordinary share


$

0.72



$

0.70



$

1.44



$

1.40





















Weighted average shares outstanding:


















Basic



339.1




335.2




336.9




335.2



Diluted



339.1




335.2




336.9




335.2



The following table details Allergan plc's product revenue for significant promoted products globally, within the U.S., and international for the three and six months ended June 30, 2018 and 2017.




ALLERGAN PLC


NET REVENUES TOP GLOBAL PRODUCTS


(Unaudited; in millions)





















































Three Months Ended June 30, 2018



Three Months Ended June 30, 2017



Movement




US Specialized Therapeutics



US

General Medicine



International



Corporate



Total



US Specialized Therapeutics



US

General Medicine



International



Corporate



Total



Total

Change



Total Change Percentage



















































Botox®


$

658.5



$

-



$

276.0



$

-



$

934.5



$

574.0



$

-



$

242.1



$

-



$

816.1



$

118.4




14.5

%

Restasis®



318.2




-




16.0




-




334.2




336.4




-




17.3




-




353.7




(19.5)




(5.5)%


Juvederm Collection



139.8




-




156.1




-




295.9




126.2




-




137.3




-




263.5




32.4




12.3

%

Lumigan®/Ganfort®



73.0




-




100.5




-




173.5




79.0




-




94.4




-




173.4




0.1




0.1

%

Linzess®/Constella®



-




191.8




6.4




-




198.2




-




167.8




5.5




-




173.3




24.9




14.4

%

Bystolic® /Byvalson®



-




148.1




0.6




-




148.7




-




150.7




0.5




-




151.2




(2.5)




(1.7)%


Alphagan®/Combigan®



98.1




-




44.6




-




142.7




96.4




-




42.7




-




139.1




3.6




2.6

%

Namenda XR®



-




3.4




-




-




3.4




-




118.7




-




-




118.7




(115.3)




(97.1)%


Lo Loestrin®



-




127.8




-




-




127.8




-




113.0




-




-




113.0




14.8




13.1

%

Estrace® Cream



-




13.1




-




-




13.1




-




90.1




-




-




90.1




(77.0)




(85.5)%


Breast Implants



75.9




-




39.9




-




115.8




61.3




-




41.1




-




102.4




13.4




13.1

%

Viibryd®/Fetzima®



-




86.7




1.6




-




88.3




-




85.2




0.7




-




85.9




2.4




2.8

%

Eye Drops



53.8




-




72.4




-




126.2




50.7




-




70.7




-




121.4




4.8




4.0

%

Minastrin® 24



-




0.8




-




-




0.8




-




11.4




-




-




11.4




(10.6)




(93.0)%


Asacol®/Delzicol®



-




32.6




12.4




-




45.0




-




45.6




12.8




-




58.4




(13.4)




(22.9)%


Coolsculpting Consumables



71.9




-




18.5




-




90.4




47.9




-




12.5




-




60.4




30.0




49.7

%

Coolsculpting Systems & Add On Applicators



36.4




-




12.4




-




48.8




31.0




-




10.2




-




41.2




7.6




18.4

%

Ozurdex ®



27.6




-




67.9




-




95.5




24.9




-




51.2




-




76.1




19.4




25.5

%

Carafate ® /Sulcrate ®



-




54.3




0.7




-




55.0




-




59.2




0.7




-




59.9




(4.9)




(8.2)%


Aczone®



21.1




-




0.1




-




21.2




41.0




-




0.1




-




41.1




(19.9)




(48.4)%


Zenpep®



-




55.5




-




-




55.5




-




50.5




-




-




50.5




5.0




9.9

%

Canasa®/Salofalk®



-




45.0




4.5




-




49.5




-




38.4




4.3




-




42.7




6.8




15.9

%

Vraylar™



-




114.2




-




-




114.2




-




66.3




-




-




66.3




47.9




72.2

%

Saphris®



-




33.8




-




-




33.8




-




43.0




-




-




43.0




(9.2)




(21.4)%


Viberzi®



-




44.9




0.3




-




45.2




-




41.3




0.1




-




41.4




3.8




9.2

%

Teflaro®



-




32.4




0.6




-




33.0




-




33.0




-




-




33.0




-




0.0

%

Namzaric®



-




31.8




-




-




31.8




-




33.4




-




-




33.4




(1.6)




(4.8)%


Rapaflo®



19.7




-




1.6




-




21.3




25.7




-




1.7




-




27.4




(6.1)




(22.3)%


Tazorac®



6.4




-




0.2




-




6.6




12.8




-




0.2




-




13.0




(6.4)




(49.2)%


SkinMedica®



20.8




-




2.0




-




22.8




25.4




-




-




-




25.4




(2.6)




(10.2)%


Latisse®



13.5




-




2.1




-




15.6




13.3




-




2.4




-




15.7




(0.1)




(0.6)%


Kybella® /Belkyra®



11.2




-




2.3




-




13.5




12.7




-




2.0




-




14.7




(1.2)




(8.2)%


Alloderm



107.1




-




2.3




-




109.4




84.6




-




2.3




-




86.9




22.5




25.9

%

Dalvance®



-




17.7




1.3




-




19.0




-




15.2




1.2




-




16.4




2.6




15.9

%

Avycaz®



-




23.5




-




-




23.5




-




14.5




-




-




14.5




9.0




62.1

%

Liletta®



-




15.5




-




-




15.5




-




6.6




-




-




6.6




8.9




134.8

%

Namenda® IR



-




-




-




-




-




-




-




-




-




-




-



n.a.


Armour Thyroid



-




49.2




-




-




49.2




-




42.0




-




-




42.0




7.2




17.1

%

Savella®



-




19.1




-




-




19.1




-




26.0




-




-




26.0




(6.9)




(26.5)%


Lexapro®



-




14.5




-




-




14.5




-




13.1




-




-




13.1




1.4




10.7

%

Other Products Revenues



73.7




164.3




105.6




28.6




372.2




71.7




162.7




104.5




6.2




345.1




27.1




7.9

%

Total Net Revenues


$

1,826.7



$

1,320.0



$

948.9



$

28.6




4,124.2



$

1,715.0



$

1,427.7



$

858.5



$

6.2




4,007.4



$

116.8




2.9

%











































































































































































































































































































Six Months Ended June 30, 2018



Six Months Ended June 30, 2017



Movement




US Specialized Therapeutics



US General Medicine



International



Corporate



Global



US Specialized Therapeutics



US General Medicine



International



Corporate



Global



Total Change



Total Change Percentage



















































Botox®


$

1,231.0



$

-



$

520.8



$

-



$

1,751.8



$

1,083.4



$

-



$

446.7