Actavis Posts Quarterly Profit Gain, Matching Analysts EstimatesCynthia Koons
Actavis Plc posted an increase in fourth-quarter earnings that matched analysts’ estimates, helped by the acquisition of Forest Laboratories Inc.
Earnings per share excluding some items rose 23 percent to $3.91, the company, which acquired Forest in July, said in a statement today.
Earnings in 2015, excluding certain items, will be $16.30 to $17.30 a share, Actavis said in the statement. Sales will be $15 billion.
Last year, Actavis agreed to buy Botox-maker Allergan Inc. for $66 billion, a deal that will make it one of the world’s biggest drugmakers. The company has been highly acquisitive, and Chief Executive Officer Brent Saunders previously spent five months as CEO of Forest before agreeing to sell the drugmaker to Actavis for $21.8 billion.