Allergan plc reported second quarter earnings that topped estimates. The company also lifted its full-year sales guidance.
The pharmaceutical company reported adjusted earnings of $4.38 per share, surpassing the Street consensus forecast of 4 cents a share. However, the adjusted EPS was just under -1% from the year-ago quarter.
Total revenues declined -0.8% to $4.09 billion, but beat analysts' estimates of $3.93 billion.
CEO Brent Saunders emphasized that Allergan delivered steady growth in key products including Botox, Vraylar and Ozurdex.
Looking ahead, Allergan expects its net non-GAAP revenues of $15.4 billion to $15.6 billion for the full-year 2019, up from $15.1 billion to $15.4 billion. It maintained its forecast of non-GAAP earnings of around $16.55 per share.
In late June, AbbVie announced that it will pay $188.24 each in cash and shares for Allergan's outstanding common stock, representing a 45% premium to the group's closing price on June 24. The deal would value the group at $63 billion. AbbVie said the deal will add around 10% to the group's adjusted earnings in the first year.