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For FY18, $AGN expects its total net revenues to be in the range of $15.0 -15.3Bil and net loss per share is expected to be about $2.27-1.52. The company expects its 1Q18 total net revenues to be about $3.5-3.6Bil and net loss per share of about $1.27-1.07.
Drugmaker $AGN reported a profit for 4Q17 on strong demand for Botox. Net earnings came to $3.05Bil, or $8.88 per share, compared with a year-earlier loss of $70.2MM, or $0.20 loss per share. Adj. EPS was $4.86. Revenue rose 12% YoY to $4.33Bil, helped by the sales growth in drugs like Botox, Alloderm and Juvederm collection.
$AGN and $IRWD reached an agreement with Indian pharma company Sun Pharma to resolve a patent litigation for the generic version of constipation drug Linzess in the U.S. As per the agreement, Sun Pharma will be able to market the generic version of Linzess in the U.S. from Feb. 1, 2031. All the litigations related to Linzess were dismissed.
$AGN said that the Federal Circuit confirmed that a proposed generic version of Combigan eye drug from Sandoz, a unit of $NVS, did not infringe Allergan's two patents. The Federal Circuit also reversed the district court's decision that Sandoz's proposed generic product infringes Allergan's 3rd patent. Allergan plans to file for rehearing within 30 days.
$AGN and its partner $PRTK announced that FDA accepted to review Seysara, an investigational drug for treating acne. Allergan, which has the U.S. rights of developing and marketing Seysara, expects FDA to take action on this in 2H18. Paratek retains the non-U.S. rights. In March 2017, Allergan announced positive results from Seysara Phase 3 trials.
Robert Stewart, COO of $AGN will resign from his role. He has been named as the CEO of the newly formed Amneal Pharmaceuticals, effective Jan. 25, 2018. Following Rob's departure, Wayne Swanton, SVP, Global Operations has been promoted as EVP, Global Operations of Allergan.
Amneal Pharmaceuticals LLC and $IPXL said Robert Stewart will join Amneal as President, effective Jan. 25, 2018. Stewart most recently served as COO of $AGN. After completion of combination of Amneal and $IPXL, Stewart will become President and CEO of the combined company, to be named Amneal Pharmaceuticals Inc., and will become a BoD member.
$ESRX's enterprise value initiative is currently estimated to cost approx. $600-650MM and to deliver cumulative savings of nearly $1.2Bil by 2021. The company's 2018 full-year guidance includes an estimated contribution of $65-75MM in expense savings affecting the Core and consolidated businesses.
For 2018, $ESRX expects adjusted diluted EPS to be $7.67-7.87, up 9-12% from the midpoint of the updated 2017 adjusted EPS guidance range. The company expects consolidated revenue to be $99-102Bil and Core revenue to be $80.5-83Bil. Total adjusted claims for the consolidated business is expected to be $1.34-1.39Bil.
$ESRX expects full-year 2017 total adjusted claims for its Core business to be 1.15-1.17Bil, which is flat over Core 2016 total adjusted claims at the midpoint of the range. The company expects Core 2017 adjusted EBITDA guidance to be $4.91-4.97Bil, representing growth of 3% over Core 2016 adjusted EBITDA results at the midpoint of the range.
$ESRX increased its consolidated 2017 adjusted EPS guidance range to $7.00-7.08, representing growth of 10% over 2016 adjusted EPS at the midpoint of the range. The company narrowed its consolidated 2017 adjusted EBITDA guidance from $7.35-7.47Bil to $7.37-7.45Bil, maintaining the midpoint of the range and up 2% over 2016.
$AGN gets FDA clearance for the CoolSculpting, a treatment to improve the appearance of lax tissue in double chin. Allergan got this CoolSculpting technology by acquiring Zeltiq Aesthetics in Feb. 2017 for $2.4Bil. Allergan added that in an 18-week study, 77% of patients showed improved appearance in their lax tissue.
$AGN enters into a buyout deal with $RPRX through a cash tender offer of $0.67 per share, representing a 43% premium of Repros Therapeutics’ Dec. 11th closing price ($0.47). Allergan's subsidiary will acquire Repros, which focuses on developing the drugs for male and female reproductive disorders. The deal is expected to close in 1Q18.