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NAPSR News: Actavis Tops Q1 Earnings & Sales Estimates
Actavis plc’s first quarter 2014 earnings came in at $3.49 per share, well above the Zacks Consensus Estimate of $3.29 per share and 75.4% above the year-ago earnings.
Results were boosted by the inclusion of products from the Warner Chilcott acquisition.
Actavis, which previously used to operate through three segments -- Actavis Pharma, Actavis Specialty Brands and Anda Distribution -- now has two revenue producing segments -- Actavis Pharma and Anda Distribution.
While Actavis Pharma includes all branded, branded generic, generic and over-the-counter products, Anda Distribution includes revenue from the distribution of third-party products.
The Actavis Pharma segment posted sales of $2.26 billion, up 36.1%. Results benefited from the Warner Chilcott acquisition, new product launches, and higher international revenues.
North American Brands revenue soared 358% to $594 million, driven by the Warner Chilcott acquisition and increased sales of products like Rapaflo and Generess Fe.
While Women's Health revenues were $213 million, Urology and Gastroenterology revenues increased 297% to $225 million. Dermatology and Established Brands revenue increased 195% to $156 million.
North American Generics revenues increased 7% to $1.02 billion driven by the launch of generic Micardis and strong performance of the generic versions of Cymbalta and Lidoderm. Generic Concerta sales, however, were impacted by competition.
International revenues were strong at $647 million, up 12%.
Net revenues from the Anda Distribution segment increased 69% during the quarter to $390.0 million reflecting higher volume.
NEW OUTLOOK TO BE PROVIDED
Actavis, which recently announced its intention to acquire Forest Laboratories, said that it will provide a revised outlook for 2014 once the acquisition goes through in mid-14. The company withdrew its standalone guidance that was provided in January.
As far as the second quarter is concerned, Actavis said that it expects additional competition for certain products including its generic version of Lidoderm. Earnings are expected to decline slightly on a sequential basis.
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Page Updated Last on: May 01, 2014