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Actavis PLC reported better-than-expected third-quarter results due to strong performance of its branded drug business and recent acquisitions.

Actavis has been involved in a few deals over the past several quarters as pharmaceutical companies seek increased size and large-scale benefits, such as better tax structure. Last year Actavis purchased Warner Chilcott, a specialty-pharmaceutical company based in Ireland, in a $5-billion deal.

This year, in July, the company took over Forest Laboratories in a cash-and-stock deal valued at $28 billion. The combined company is expected to produce yearly revenue of $15 billion in 2015.

Last month Actavis announced it would acquire Durata Therapeutic, an antibiotic manufacturer, for $675 million in an effort to improve its infectious-diseases business.

Actavis reported a 46% increase in net revenue to $3.68 billion in the third quarter, compared to last years performance of $2.01 billion. Analysts surveyed by Thomson Reuters projected net revenue of $3.63 billion.

The results received a strong boost by the companys brand segment in North America. Product sales rose more than ten times to $1.6 billion, driven by the acquisitions of Warner Chilcott and Forest.

In its generics division, net revenue rose to $979 million, partially offset by stronger competition. Meanwhile, international revenue increased 15% to $660 million, boosted by growth in key markets, including the U.K. and Russia.

Q3 net revenues at the Anda distribution segment, which includes shipments of third-party products, increased 38% to $423.2 million compared to $307 million a year earlier.

Once again Actavis raised its earnings forecast to be in the range of $13.51 and $13.61 per share from its previous projection of between $13.02 and $13.32 per share.

“Our 53 percent year-over-year growth in non-GAAP EPS reflects the strong contributions of our new brand pharmaceutical portfolios, resulting from the acquisitions of Warner Chilcott and Forest, as well as the continued strong performance of our U.S. Generics and International businesses” said CEO Brent Saunders.

All-in-all, Actavis stated a net loss of $1.04 billion, or $3.95 a share, compared with last years profit of $65.6 million and, or $0.49 a share. Earnings per share increased to $3.19 from $2.09, excluding effects of acquisitions and other items.

Actavis PLC lost 0.88% on Tuesday and closed at $245.32 in New York. On Wednesday the stock gained 1.37% to trade at $248.69 at 15:29 GMT, marking a one-year increase of 58.79%. The company is valued at $64.83 billion. According to the Financial Times, the 19 analysts offering 12 month price targets for Actavis PLC have a median target of $270.00, with a high estimate of $310.00 and a low estimate of $227.00. The median estimate represents a 10.06% increase from the last close price of $245.32.

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