Professional Documents
Culture Documents
RESULTS
Focused, Sustainable Growth
Pharma Leader
AGENDA
1
Q3 2016 Overview
Commercial Highlights
R&D Update
Q&A
BRENT
SAUNDERS
Chairman, CEO and President
ALLERGAN:
A FOCUSED GROWTH
PHARMA LEADER
Category
Leadership
Maintain/achieve # 1 & 2
position in key therapeutic areas
Innovation
driven to address
unmet needs
Operational
Excellence
Strong
Top-Line Growth
Sustainable top line revenue growth
Leading global brands
Targeted geographic expansion
GROWTH
PHARMA
Customer
Intimacy
Deep knowledge of
therapeutic area
environment
Highly
responsive/
service
oriented
Industry leading
operating margins
Sales and marketing engine
Open
$5B
Share Repurchase Completed
Announced Today
$10B
$0.70
per share
quarterly
dividend
3
Allergan Q
rd
Report Ca
Promoted wth
o
product gr
ct launch
New produ e
c
performan
brands
Establishedomoted
and non-pr
e
R&D Pipelin
Profitability
All Q3 results in this presentation are for Continuing Operations on a non-GAAP basis.
* Excludes FX, Namenda IR and Divestitures. Excludes the reclassification of revenues of ($23.7) MM in Q3 2016 and ($43.4) MM in Q3 2015 related to the portion of Allergan product
revenues sold by our Anda Distribution Business into discontinued operations. Excludes other adjustments related to an adjustment of $31.7MM recorded in the three months ended
September 30, 2015 related to international other product revenues for the six months ended June 30, 2015 that were reported in discontinued operations instead of continuing operations
during the six months ended June 30, 2015. The impact of this out-of-period adjustment is not material to the six months ended June 30, 2015 or the three months ended
September 30, 2015 and had no impact on the nine months ended September 30, 2015.
Continuing operations excludes Anda distribution business as a result of being held for sale on June 30th and closed on October 3rd and the Generics Business sold on August 2nd, 2016
Please refer to the GAAP to non-GAAP tables in the appendix for a reconciliation of our non-GAAP results
91
15
21
23
13
11
11
68
69
35
50
44
88
-44%
-4%
Excludes FX, Namenda IR and divestitures. Excludes the reclassification of revenues of ($23.7) MM in Q3 2016 and ($43.4) MM in Q3 2015 related to the portion of Allergan product
revenues sold by our Anda Distribution Business into discontinued operations. Excludes other adjustments related to out-of-period adjustments in Q3 2015 net revenues
Represents all other product revenues, excluding Namenda IR, divestitures, and reclassification of revenues related to the portion of Allergan product revenues sold
by our Anda Distribution Business into discontinued operations.
FX
pa
Im
ct
Q
3
Fx
ct
s
O
th
e
rP
ro
du
ol
elz
ic
da
en
am
d-
As
ac
ol/
D
XR
st
ea
Fe
tz
im
a/
Br
Es
tra
ce
rii
ina
/
l
te st
XR
ico
ra rea
er 3
c
l
da
elz
u /B
th s
n
D
S
s
/
O uct
e
/ ma
l
E
e
D
l
m
t
H
A rod
fa tzi
Na
ol
ra Fe
P
ac
Ca ryd/
s
A
ib
Vi
e
c
tra
af
at
e/
Vib
as
in
in
str
ar
By
20
16
4%
li
sto
om
uc
G
la
cz
e
on
trin
c
By
st
oli
ne
dr
Ac
zo
op
ex
d
ur
13%
6%
t/
or
nf an
a
g
i
G
n/ mb
Oz
iga o
m an/C
u
L ag
ph
Al
ex
rd
du
oL
s
oe
O
zu
lo
trin
Lo
ct
s
t
uc
od 2
Pr hes
w c
Ne aun
L
Pr
o
rs
ew
lle
Fi
rs
Fil
le
on
st
ell
/
ss
ze tella
Lin ons
C
s/
C
is
ze
s
is
Re
s
sta
14%
8%
16%
13%
Lin
ox
ot
-32%
21%
es
ta
s
Q
2
Q3 2015
Revenues
($000)
Bo
to
x
20
15
15%
44%
42%
25%
$3,4021
$3,6431
7.4%
32
19
11
Major pharma
and device
approvals
Major
Submissions
7
Major Pipeline
Advancements
Collaboration
Dermatology
Periocular Ring
technology
Eye Care
XAF5
Cenicriviroc
Evogliptin
FXR
NASH
NASH
Topical treatment
for Steatoblepharon
RORt
LXR
Dermatology
RST-001
Retinitis Pigmentosa
BRAZIKUMAB
BILL
MEURY
Chief Commercial Officer
Key Highlights
Q3 Rev
($MM)1
Growth vs PY
(Actual Rates)
Growth vs PY
(Excluding Fx)
EYE CARE
$903
10%
10%
CNS
$649
2%
3%
AESTHETICS/
DERMATOLOGY
$756
14%
14%
GI
$464
9%
9%
WH
$320
15%
15%
UROLOGY
$89
6%
6%
ANTIINFECTIVE
$53
<1%
<1%
1. Revenues reflect continuing operations, exclude established brands and divestitures and excludes the reclassification of revenues related to the portion of Allergan
product revenues sold by our Anda Distribution Business into discontinued operations. Botox sales are allocated by indication into Aesthetics, CNS, Urology.
2. Revenues excludes Namenda IR.
11
55,000
50,000
45,000
40,000
30% prescription
growth in Q3 vs
P/Y
10
/3
11 0/2
/1 01
11 3/2 5
/2 01
12 7/2 5
/1 01
12 1/2 5
/2 01
5/ 5
2
1/ 01
8 5
1/ /20
22 16
/2
2/ 01
5/ 6
2/ 20
19 16
/2
3/ 01
4/ 6
3/ 20
18 16
/2
4/ 01
1/ 6
4/ 20
15 16
4/ /20
29 16
5/ /20
13 16
5/ /20
27 16
6/ /20
10 16
6/ /20
24 16
/2
7/ 01
8/ 6
7/ 20
22 16
/2
8/ 01
5/ 6
8/ 20
19 16
/2
9/ 01
2/ 6
9/ 20
16 16
9/ /20
3 1
10 0/2 6
/1 01
4/ 6
20
16
35,000
$3,500,000
$3,000,000
$2,000,000
$1,500,000
$2,500,000
$1,000,000
$500,000
W
ee
k
W 1
ee
k
W 3
ee
k
W 5
ee
k
W 7
ee
W k9
ee
W k 11
ee
k
W 13
ee
k
W 15
ee
k
W 17
ee
k
W 19
ee
k
W 21
ee
k
W 23
ee
k
W 25
ee
k
W 27
ee
k
W 29
ee
k
W 31
ee
k
W 33
ee
k
W 35
ee
k
W 37
ee
k
W 39
ee
k
W 41
ee
k
W 43
ee
k
45
$0
12
2016
2015
Kybella Weekly BD
Treatments
DTC
1,575
n
Fe
b
1M
ar
1Ap
1- r
M
ay
1Ju
n
1Ju
1- l
Au
g
1Se
p
1O
ct
1N
o
1- v
D
ec
4%
Ja
6%
1-
1-
13
Botox Cx
Migraine
OAB
Total Patients
32.4MM
3.28MM
5.5MM
Botox Patients
2.4MM
197K
165K
7%
6%
3%
Penetration Rate
Source: US census data, Allergan market research 2016 and Allergan internal data
14
P
P
Launch-aligned TRx
6,000
4,500
New Indication
62,000
3,000
Rexulti
1,500
Latuda
47,000
Vraylar
w
k
w 9
k1
w 1
k1
w 3
k1
w 5
k1
w 7
k1
w 9
k2
w 1
k2
w 3
k2
w 5
k2
w 7
k2
w 9
k3
w 1
k3
w 3
k3
w 5
k3
w 7
k3
w 9
k4
w 1
k4
3
k5
k7
w
k1
k3
w
9/
2
10 5/2
/1 01
6/ 5
11 201
/6 5
11 /20
/2 15
12 7/20
/1 15
8/
2
1/ 01
8/ 5
1/ 20
29 16
2/ /20
19 16
/
3/ 201
11 6
/2
4/ 01
1/ 6
4/ 20
22 16
5/ /20
13 16
/2
6/ 01
3/ 6
6/ 20
24 16
7/ /20
15 16
/2
8/ 01
5/ 6
8/ 20
26 16
9/ /20
16 16
10 /20
/7 16
/2
01
6
32,000
1. Source: IMS Weekly NPA and NTBRx, 23-Sep reporting period. NTBRx data are smoothed by 3-unit boxcar averaging.
15
* Source: IMS data most recent 4 weeks through 10/21/16 vs same period prior year
16
WE
+8%
LACAN
+14%
NESEE
+26%
TMEA
+6%
APAC
+14%
Regional growth rates in chart reflect Q3 growth vs prior year excluding FX impact
WE: Western Europe
TMEA: Turkey, Middle East and Africa
NESEE: North East and South East Europe
APAC: Asia Pacific
17
18
DAVID
NICHOLSON
Chief R&D Officer
BUILDING
THE
PIPELINE
OPEN
SCIENCE
20
TRUE TEAR
TAVILERMIDE
RAPASTINEL
APIMOSTINEL
UBROGEPANT
ATOGEPANT
CGRP antagonists
Periocular Ring
technology
Eye Care
RST-001
Retinitis Pigmentosa
Since Q2 2016
ANT027
Dermatology
XAF5
RUGEN
THERAPEUTICS
Collaboration
Muscarinic agonists
eurology
RELAMORELIN
Topical treatment
for Steatoblepharon
RORt
LXR
Dermatology
Cenicriviroc
Evogliptin
NASH
FXR
NASH
BRAZIKUMAB
21
Major
pipeline
catalyst
in the next
12 months
Composite Score
1
0
-1
-2
Composite1Score
Baseline
Four-Symptom Composite
-1
Week
Placebo (N=36)
RM-131 10 ug BID (N=30)
-2
-3
-4
-5
-6
-7
-8
Baseline
*
2
*
3
Four-symptom composite
: change from baseline in
-7
*
1vomiting subgroup
-8
*
*
Four-Symptom Composite
Change from Baseline Pooled Doses
Week
Week
FDA Draft Guidance (July 2015) We recommend the use of an endpoint(s) that is based either on: (1) measuring each of the core signs and
symptoms separately, thereby producing individual sign and symptom scores with a responder definition that incorporates each individual sign and
symptom score change; or (2) a summary score of the core signs and symptoms (excluding vomiting) with a responder definition based on meaningful
summary score change and vomiting frequency change.
1. Nausea, abdominal pain, early satiety, bloating. 2. Nausea, abdominal pain, post-prandial fullness, bloating
3. Analysis was done on change from baseline of normalized, weekly vomiting data and reported as percent change, calculated by Motus as 100 x (LS mean change from
baseline/baseline) 4. Analysis was done on change-from-baseline of log-transformed, normalized, weekly vomiting data using a threshold of 4 weekly diary entries and reported, after
being back- transformed, as percent change from baseline
23
TESSA
HILADO
Chief Financial Officer
Returning
Capital to
Shareholders
> Up to 50% of the ASR program would be hedged through a collar transaction
Forecast 2016 average diluted share count of 408 million
Forecast year end diluted share count of 365 million
25
Debt
Payment
Supports
Investment
Grade Credit
Ratings
Q3 2016
$27.4
Total Debt *
$32.8
4.33 X
0.71 X
26
Q3 2016
Q3 2015
Net Revenue
3,622
3,466
4.5%
Gross Margin %
87.8%
88.7%
386
R&D Expense
SG&A
Y/Y
Q2 2016
Q/Q
3,685
-1.7%
-0.9%
88.0%
-0.2%
305
26.7%
345
12.0%
1,007
867
16.1%
1,039
-3.1%
% of Revenue
27.8%
25.0%
2.8%
28.2%
-0.4%
Operating Income
1,784
1,895
-5.8%
1,860
-4.1%
Op. Margin %
49.3%
54.7%
-5.4%
50.5%
-1.2%
Adjusted EBITDA
1,902
1,987
-4.3%
1,937
-1.8%
Earnings Per
Share
$3.32
$3.41
-2.6%
$3.35
-0.9%
Tax Rate
8.2%
7.7%
0.5%
7.1%
1.1%
(1,092)
1,048
1,383
N/A
N/A
* All metrics are as a % of Net Revenues. Please refer to the GAAP to non-GAAP tables in the appendix for a reconciliation of our non-GAAP results.
** Excludes FX, Namenda IR and Divestitures. Excludes the reclassification of revenues of ($23.7) MM in Q3 2016 and ($43.4) MM in Q3 2015 related to the portion
of Allergan product revenues sold by our Anda Distribution Business into discontinued operations. Excludes other adjustments related to out-of-period adjustments
in Q3 2015 net revenues.
27
Q3 2016
Q3 2015
Y/Y
Q2 2016
Q/Q
Net Revenues
1,453
1,297
12.1%
1,489
-2.4%
Gross Margins
95.2%
94.5%
0.7%
95.0%
0.2%
SG&A
% of Revenue
334
23.0%
253
19.5%
31.6%
3.5%
334
22.4%
-0.1%
0.6%
Segment Margin
72.3%
74.9%
-2.6%
72.5%
-0.2%
Includes revenues earned that were distributed through the Anda Distribution Business to third-party customers.
28
Q3 2016
Q3 2015
Y/Y
Q2 2016
Q/Q
Net Revenues
1,488
1,552
-4.1%
1,449
2.7%
Gross Margins
85.5%
85.3%
0.2%
85.2%
0.3%
SG&A
% of Revenue
Segment Margin
335
280
19.6%
376
22.5%
18.1%
4.4%
26.0%
-11.0%
-3.5%
63.0%
67.3%
-4.3%
59.2%
3.8%
Includes revenues earned that were distributed through the Anda Distribution Business to third-party customers.
29
Net Revenues
Gross Margins
SG&A
% of Revenue
Segment Margin
Q3 2016
Q3 2015
Y/Y
Q2 2016
Q/Q
698
661
5.6%
757
-7.8%
86.4%
83.6%
2.8%
84.8%
1.6%
216
189
14.3%
238
31.0%
28.6%
2.4%
31.5%
-9.2%
-0.5%
55.4%
55.0%
0.4%
53.4%
2.0%
* Out-of period adjustment includes an adjustment of $31.7MM recorded in the three months ended September 30, 2015 related to international other product revenues
for the six months ended June 30, 2015 that were reported in discontinued operations instead of continuing operations during the six months ended June 30, 2015.
The impact of this out-of-period adjustment is not material to the six months ended June 30, 2015 or the three months ended September 30, 2015 and had no impact on
the nine months ended September 30, 2015.
30
$14,450$14,650
Gross Margin
~89%
~8788%
Non-GAAP SG&A
~$4 Billion
~$4 Billion
~$1.5 Billion
~$1.5 Billion
Tax rate %
~9%
~89%
~$1.30 Billion
~$1.25 Billion
$13.75 - $14.20
$13.30$13.50
~413 Million
~408 Million*
1. Excludes Anda from Net Revenues and expenses. Guidance based off of Reported Net Revenue
2. Excludes revenues of Allergan products sold through Anda Distribution Business which are no longer included in our reported continuing
operations revenue as a result of discontinued operations accounting.
* For the fourth quarter, forecasted average diluted share count is 383 million.
Above guidance represents non-GAAP figures. Refer to Table 11 of appendix for reconciliation of GAAP to Non-GAAP
31
35%
50% 50%
39%
69%
54% 55%
G
IL
D
EL
C
BI
IB
G
N
AM
BV
O
VO
N
PG
AB
SH
PF
E
R
M
BM
AZ
N
LL
Y
AG
N
C
EL
G
G
IL
D
BI
IB
G
N
AM
PG
O
VO
N
SH
AZ
N
BV
22%
AB
PF
E
LL
Y
K
R
M
BM
VS
76% 76%
74% 75%
VS
82%
88% 88%
79%
87% 88%
85%
83% 84%
Operating Margins
96%
AG
N
Gross Margins
32
33
APPENDIX
34
!
Botox ! Volbella !
CFL Japan
lips US
SUBMISSIONS
!
Volite (w/
Voluma ! lidocaine) !
Botox LL Spasticity
US approved
nose EU
WH
CNS
URO, AI,
OTHER
Enzepi EPI
EU
Truberzi
EU (positive opinion)
Dalvance
single dose
Approved in
US & EU
Teflaro peds
US
Avycaz cIAI
with Ph 3 US
XEN - glaucoma
US (510k)
Linzess 72mcg
sNDA submitted
Nebivolol/Valtarsan
US
Voluma XC
Japan
True Tear
US (510k)
CE Mark
EYE
CARE
GI
Oxymetazoline (Rosacea)
US NDA submitted
DEVELOPMENT MILESTONES
Ser 120
Nocturia
US accepted
Relamorelin
Phase 2b data
Ulipristal
1st Ph 3 topline results
Rapastinel
Ph 3 initiated
!
!
Cariprazine
aMDD Ph 3 results
Avycaz cUTI
with Phase 3
US
TRV-027*
Ph 2b topline
results
!
Atogepant
!
Initiated Ph 2 US
Ubrogepant
Initiated Ph 3 US
!
35
EYE
CARE
GI
SUBMISSIONS
Oxymetazoline
Rosacea
Voluma XC
Japan 2H
MDPF Restasis
US 2H
True Tear
Dry Eye
XEN
Glaucoma
DEVELOPMENT MILESTONES
Sarecycline
Acne
Sarecycline
Ph 3 topline results
Botox
Masseter
Ph 2 results
Latanoprost
Entry Ph 3
Botox FHL
US/EU 2H
Voluma Plus
CE Mark 2H
Volbella lips
Japan 2H
Botox CFL
China 2H
Restasis
EU 2H
MDPF Ganfort
EU early 2017
Bimatoprost SR
Ph 3 enrollment
completion
Abicipar
Ph 3enrollment
completion
Brimo DDS
Atrophic AMD. Ph 2
topline results
Omega 3 OTC
Dry Eye
Cortisol Analog
Dry Eye Entry Ph 3
Tavilermide
1st Ph 3
Pilo/Oxy
Presbyopia. Ph 2
topline results
Linzess
Delayed
Release CIC.
Entry Phase 3
Linzess
Low Dose CIC
Ulipristal
Uterine Fibroids
WH
Semprana
Acute
Migraine
US 2H
CNS
URO, AI,
OTHER
Avycaz
cUTI
* Belkyra in International markets (received positive opinion through European Decentralized Procedure).
Botox
MDD
Ph 2
Results
Avastin
Biosimilar
US/EU 2H
2H 2016
2017
Muscarinic
Receptor
Agonist
Entry Ph 1
LiRIS
Interstitial Cystitis.
Entry Phase3
36
Allergan plcs statement of operations for the three and nine months ended September 30, 2016 and 2015
Table 2:
Allergan plc's GAAP and Non-GAAP product revenue for Top Global Products for the three months ended
September 30, 2016 and 2015
Table 3:
Allergan plcs Condensed Consolidated Balance Sheets as of September 30, 2016 and December 31, 2015
Table 4:
Allergan plcs Condensed Consolidated Statements of Cash Flows for the three and nine months ended
September 30, 2016 and 2015
Table 5:
GAAP to non-GAAP statement of operations for the three and nine months ended September 30, 2016 and 2015
Table 6:
Reconciliation of reported net (loss) from continuing operations and diluted earnings per share to non-GAAP
net income and diluted EPS for the three and nine months ended September 30, 2016 and 2015
Table 7:
Reconciliation of reported net (loss) from continuing operations for the three and nine months ended
September 30, 2016 and 2015 to adjusted EBITDA
Table 8:
Net Revenues and contribution margin for US Specialized Therapeutics Business Segment for the three and
nine months ended September 30, 2016 and 2015
Table 9:
Net Revenues and contribution margin for US General Medicine Business Segment for the three and nine months
ended September 30, 2016 and 2015
Table 10: Net Revenues and contribution margin for International Business Segment for the three and nine months ended
September 30, 2016 and 2015
Table 11: GAAP to non-GAAP reconciliation of FY 2016 EPS forecast
Table 12: New Segment Legend
37
TABLE 1:ALLERGAN PLCS STATEMENT OF OPERATIONS FOR THE THREE AND NINE MONTHS
ENDED SEPTEMBER 30, 2016 AND 2015
Table 1
ALLERGAN PLC
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited; in millions, except per share amounts)
Net revenues
Operating expenses:
Cost of sales (excludes amortization and impairment of
acquired intangibles including product rights)
Research and development
Selling, general and administrative
Amortization
In-process research and development impairments
Asset sales and impairments, net
Total operating expenses
Operating (loss)
Non-operating income (expense):
Interest income
Interest (expense)
Other income (expense), net
Total other income (expense), net
(Loss) before income taxes and noncontrolling interest
(Benefit) for income taxes
Net (loss) from continuing operations, net of tax
Income from discontinued operations, net of tax
Net income
(Income) attributable to noncontrolling interest
Net income attributable to shareholders
Dividends on preferred shares
Net income attributable to ordinary shareholders
(Loss) / income per share attributable to ordinary shareholders - basic:
Continuing operations
Discontinued operations
Net income per share - basic
(Loss) / income per share attributable to ordinary shareholders - diluted:
Continuing operations
Discontinued operations
Net income per share - diluted
Weighted average shares outstanding:
Basic
Diluted
462.2
622.8
1,157.2
1,609.1
42.0
(4.7)
3,888.6
(266.4)
710.3
1,260.5
1,022.7
1,557.8
300.0
(4.4)
4,846.9
(1,377.4)
1,381.1
1,662.4
3,463.5
4,831.9
316.9
(24.0)
11,631.8
(925.5)
2,150.0
1,927.9
3,205.2
3,858.9
497.6
3.1
11,642.7
(2,561.5)
18.1
(324.3)
33.6
(272.6)
(539.0)
(158.9)
(380.1)
15,601.9
15,221.8
(1.8)
15,220.0
69.6
$ 15,150.4
3.5
(340.2)
0.2
(336.5)
(1,713.9)
(838.9)
(875.0)
6,177.6
5,302.6
(1.4)
5,301.2
69.6
$ 5,231.6
23.5
(1,002.9)
184.2
(795.2)
(1,720.7)
(825.8)
(894.9)
15,873.2
14,978.3
(4.3)
14,974.0
208.8
$ 14,765.2
7.6
(852.0)
(238.1)
(1,082.5)
(3,644.0)
(1,491.0)
(2,153.0)
6,701.7
4,548.7
(2.6)
4,546.1
162.4
4,383.7
(1.15)
39.73
38.58
(2.40)
15.69
13.29
(2.81)
40.25
37.44
(1.15)
39.73
38.58
(2.40)
15.69
13.29
(2.81)
40.25
37.44
$
$
392.7
392.7
393.6
393.6
394.4
394.4
(6.46)
18.67
12.21
(6.46)
18.67
12.21
358.9
358.9
38
TABLE 2:ALLERGAN PLCS GAAP PRODUCT REVENUE FOR TOP GLOBAL PRODUCTS FOR THE
THREE MONTHS ENDED SEPTEMBER 30, 2016 AND 2015
Table 2
ALLERGAN PLC
NET REVENUES TOP GLOBAL PRODUCTS
(Unaudited; in millions)
Three Months Ended September 30,
U.S.
Global
2016
Botox
Restasis
Fillers
Namenda XR
Lumigan /Ganfort
Bystolic
Linzess /Constella
Alphagan /Combigan
Asacol /Delzicol
Lo Loestrin
Viibryd /Fetzima
Estrace Cream
Minastrin 24
Breast Implants
Carafate / Sulcrate
Ozurdex
Aczone
2015
689.7
$ Change
604.4
% Change
2016
$
2015
496.3
$ Change
435.6
International
% Change
2016
$
2015
193.4
$ Change
85.3
14.1%
60.7
13.9%
371.8
201.8
328.3
167.6
43.5
34.2
13.3%
20.4%
356.4
105.0
312.8
89.7
43.6
15.3
13.9%
17.1%
146.9
214.5
(67.6)
(31.5)%
146.9
214.5
(67.6)
(31.5)%
164.9
157.9
7.0
4.4%
78.3
71.7
6.6
9.2%
86.6
86.2
0.4
0.5%
164.4
155.7
8.7
5.6%
163.9
155.3
8.6
5.5%
0.5
0.4
0.1
25.0%
168.7
118.6
50.1
42.2%
164.4
117.5
46.9
39.9%
4.3
1.1
3.2
134.7
120.8
13.9
11.5%
93.4
81.4
12.0
14.7%
41.3
39.4
1.9
15.4
96.8
168.8
% Change
15.5
77.9
24.6
14.6%
(0.1)
18.9
(0.6)%
24.3%
n.a.
n.m.
4.8%
86.4
157.2
(70.8)
(45.0)%
72.2
141.9
(69.7)
(49.1)%
14.2
15.3
(1.1)
(7.2)%
105.7
90.8
14.9
16.4%
105.7
89.8
15.9
17.7%
1.0
(1.0)
(100.0)%
87.6
84.5
3.1
3.7%
87.6
84.5
3.1
3.7%
n.a.
98.6
87.4
11.2
12.8%
98.6
87.4
11.2
12.8%
n.a.
84.9
86.7
74.4
85.5
10.5
1.2
14.1%
1.4%
84.9
51.1
74.4
50.9
10.5
0.2
14.1%
0.4%
35.6
34.6
1.0
57.0
52.9
4.1
7.8%
56.4
52.9
3.5
6.6%
0.6
0.6
64.3
51.6
12.7
24.6%
20.9
17.6
3.3
18.8%
43.4
34.0
9.4
69.0
48.0
21.0
43.8%
69.0
48.0
21.0
43.8%
(52.0)
2.0
19.7
152.7
(94.7)%
0.2%
(45.4)%
4.4%
(52.0)
22.7
19.7
115.5
(94.7)%
3.4%
(45.4)%
4.1%
Namenda IR
2.9
Other Products Revenues
859.9
Less product sold through our Anda Distribution business(23.7)
Total Net Revenues
$
3,622.2
54.9
857.9
(43.4)
3,469.5
2.9
694.2
(23.7)
2,924.4
54.9
671.5
(43.4)
2,808.9
165.7
697.8
186.4
660.6
(20.7)
37.2
n.a.
2.9%
n.a.
27.6%
n.a.
n.a.
(11.1)%
n.a.
5.6%
39
TABLE 2 (CONT):ALLERGAN PLCS NON-GAAP PRODUCT REVENUE FOR TOP GLOBAL PRODUCTS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 AND 2015
Total Revenue Growth
Top Global Products
Q3'16
Total
Botox
Restasis
Namenda IR
Namenda XR
Fillers
Lumigan/Ganfort
Asacol/Delzicol
Bystolic
Alphagan/Combigan
Carafate/Sulcrate
Linzess/Constella
Viibryd/Fetzima
Lo Loestrin
Breast Implants
Estrace Cream
Minastrin 24
Ozurdex
Aczone
Other Product Revenues
Total Revenue
Total Revenue (excluding Namenda IR, divestitures, Anda, Other)
US
Y/Y Growth
(Actual Rates)
Q3'15
Ex-US
Total
US
Y/Y Growth
(ex FX)
Ex-US
689.7
371.8
2.9
146.9
201.8
164.9
86.4
164.4
134.7
57.0
168.7
87.6
105.7
86.7
98.6
84.9
64.3
69.0
836.2
496.3
356.4
2.9
146.9
105.0
78.3
72.2
163.9
93.4
56.4
164.4
87.6
105.7
51.1
98.6
84.9
20.9
69.0
670.5
193.4
15.4
96.8
86.6
14.2
0.5
41.3
0.6
4.3
35.6
43.4
165.7
604.4
328.3
54.9
214.5
167.6
157.9
157.2
155.7
120.8
52.9
118.6
84.5
90.8
85.5
87.4
74.4
51.6
48.0
810.8
435.6
312.8
54.9
214.5
89.7
71.7
141.9
155.3
81.4
52.9
117.5
84.5
89.8
50.9
87.4
74.4
17.6
48.0
624.4
168.8
15.5
77.9
86.2
15.3
0.4
39.4
1.1
1.0
34.6
34.0
186.4
14.1%
13.3%
-94.7%
-31.5%
20.4%
4.4%
-45.0%
5.6%
11.5%
7.8%
42.2%
3.7%
16.4%
1.4%
12.8%
14.1%
24.6%
43.8%
3.1%
14.5%
13.3%
-94.7%
-31.5%
20.9%
5.6%
-44.0%
5.6%
11.8%
7.8%
42.4%
3.7%
16.4%
1.3%
12.8%
14.1%
25.4%
43.8%
3.3%
3,622.2
3,643.0
2,924.4
2,945.2
697.8
697.8
3,465.8
3,401.6
2,805.2
2,772.7
660.6
628.9
4.5%
7.1%
4.8%
7.4%
40
December 31,
2015
7,554.7
19,837.6
2,398.5
705.5
771.7
663.1
1,566.3
461.8
63,022.7
46,625.8
143,607.7
6,210.0
247.5
32,770.0
14,649.8
89,730.4
143,607.7
1,096.0
9.3
2,125.4
757.5
495.3
14,808.9
1,531.3
458.2
67,836.2
46,465.2
135,583.3
4,202.3
2,228.6
42,530.4
10,032.7
76,589.3
135,583.3
41
TABLE 4:ALLERGAN PLCS CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE
THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2016 AND 2015
Table 4
ALLERGAN PLC
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited; in millions)
Three Months Ended September 30,
2016
2015
Cash Flows From Operating Activities:
Net income
Reconciliation to net cash provided by operating activities:
Depreciation
Amortization
Provision for inventory reserve
Share-based compensation
Deferred income tax benefit
Pre-tax gain sale of generics business
Non-cash tax effect of gain on sale of generics business
In-process research and development impairments
(Gain) / loss on asset sales and impairments, net
Amortization of inventory step up
Amortization of deferred financing costs
Contingent consideration adjustments, including accretion
Excess tax benefit from stock-based compensation
Other, net
Changes in assets and liabilities (net of effects of acquisitions):
Decrease / (increase) in accounts receivable, net
Decrease / (increase) in inventories
Decrease / (increase) in prepaid expenses and other current assets
Increase / (decrease) in accounts payable and accrued expenses
Increase / (decrease) in income and other taxes payable
Increase / (decrease) in other assets and liabilities
Net cash (used in) / provided by operating activities
Cash Flows From Investing Activities:
Additions to property, plant and equipment
Additions to product rights and other intangibles
Sale of generics business
Additions to investments
Proceeds from sale of investments and other assets
Proceeds from sales of property, plant and equipment
Acquisitions of businesses, net of cash acquired
Net cash provided by / (used in) investing activities
Cash Flows From Financing Activities:
Proceeds from borrowings of long-term indebtedness
Proceeds from borrowings on credit facility and other
Debt issuance and other financing costs
Payments on debt, including capital lease obligations
Proceeds from issuance of preferred shares
Proceeds from issuance of ordinary shares
Proceeds from stock plans
Payments of contingent consideration
Repurchase of ordinary shares
Dividends
Excess tax benefit from stock-based compensation
Net cash (used in) / provided by financing activities
Effect of currency exchange rate changes on cash and cash equivalents
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Supplemental Disclosures of Cash Flow Information
Taxes paid in connection with the sale of the generics business
15,221.8
5,302.6
14,978.3
4,548.7
40.7
1,609.1
45.8
81.1
(190.0)
(24,203.1)
5,749.9
42.0
(4.7)
23.6
15.9
5.3
10.4
51.4
1,593.9
45.2
109.8
(6,882.0)
300.0
(1.2)
313.7
8.7
81.1
(17.7)
(9.4)
117.6
4,836.7
162.7
269.9
(517.1)
(24,203.1)
5,749.9
316.9
(24.0)
42.4
44.6
76.7
(26.6)
(16.0)
183.9
4,192.8
108.6
510.5
(7,470.9)
497.6
57.2
1,019.8
289.2
89.2
(54.0)
54.9
460.8
(38.4)
(86.5)
(92.1)
346.0
(130.0)
(1,092.4)
532.1
(35.3)
(86.4)
(399.2)
112.8
28.1
1,048.2
(40.4)
(221.6)
158.9
331.9
(131.6)
(397.5)
1,508.6
(364.0)
(270.1)
(3.3)
(290.6)
(103.4)
(21.6)
2,974.5
(67.7)
33,304.5
(15,445.5)
14.5
18.8
(74.5)
17,750.1
(102.5)
(62.6)
(6.0)
52.1
(132.8)
(251.8)
(250.5)
33,304.5
(15,445.5)
40.0
33.3
(74.5)
17,607.3
(350.7)
(91.1)
(27.0)
855.8
133.6
(35,242.7)
(34,722.1)
150.0
(6,995.4)
30.7
(13.9)
(2,691.3)
(69.6)
(5.3)
(9,594.8)
2.3
7,065.2
489.5
7,554.7
(230.5)
87.6
(46.3)
(7.2)
(69.7)
17.7
(248.4)
(2.0)
546.0
1,517.9
2,063.9
1,050.0
(10,831.0)
138.0
(77.7)
(2,758.6)
(208.8)
26.6
(12,661.5)
4.3
6,458.7
1,096.0
7,554.7
26,456
2,882.0
(310.8)
(4,326.7)
4,929.7
4,071.1
195.8
(138.3)
(108.2)
(138.4)
54.0
33,566.6
(5.1)
1,813.9
250.0
2,063.9
2,571.7
2,571.7
42
TABLE 5: GAAP TO NON-GAAP STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED
SEPTEMBER 30, 2016 AND 2015
Table 5
ALLERGAN PLC
GAAP TO NON-GAAP ADJUSTMENTS
(Unaudited; in millions)
GAAP
Expenditures incurred with the Pfizer transaction
Purchase accounting impact on stock-based compensation
for acquired awards
Severance due to integration of acquired entities and other
restructuring programs
Integration charges of acquired businesses
Brand related milestones and upfront expenses for asset
acquisitions
Retrosense
Arkana
Merck license agreement
Accretion and fair-value adjustments to contingent
consideration
Mark-to-market adjustments for foreign currency option
contracts
Non-cash amortization of debt premium recognized in
purchase accounting
Abandonment of certain R&D projects acquired in the
Forest acquisition
Asset sales and impairments, other
Litigation settlement related charges
Other adjustments
Income taxes on pre-tax adjustments
Non-GAAP Adjusted
Research &
Development
$
622.8
(1.3)
(2.2)
(5.2)
(9.3)
(1.7)
(8.0)
(16.3)
(12.0)
(0.3)
(6.4)
(4.1)
(2.9)
(2.6)
3.7
(12.4)
(38.5)
(59.7)
(48.2)
(100.0)
(10.4)
(5.5)
0.1
-
(5.8)
-
COGS
462.2
Net Revenue
$
3,622.2
3,622.2
442.2
386.4
(18.2)
(40.8)
1.3
-
(10.3)
(42.0)
4.7
-
147.7
33.6
231.3
(316.5) $
775.6
Income taxes
(158.9)
(1,609.1)
-
134.5
123.3
ALLERGAN PLC
GAAP TO NON-GAAP ADJUSTMENTS
(Unaudited; in millions)
GAAP
Net Revenue
3,469.5
COGS
710.3
Research &
Development
1,260.5
(292.9)
(4.3)
(15.4)
(24.6)
(18.6)
(0.2)
(0.2)
(3.2)
(19.5)
(7.3)
3.6
(7.1)
(80.5)
(571.7)
(35.0)
(250.0)
(0.6)
(20.6)
(60.1)
Income taxes
(838.9)
(0.6)
(4.5)
(3.7)
-
1.7
-
3,465.8
392.1
305.0
657.0
(17.5)
$
210.3
(1,557.8)
$
(19.4)
(300.0)
4.4
$
(356.1) $
(5.0)
-
513.7
443.0
(4.8) $
117.8
43
TABLE 5 (CONT): GAAP TO NON-GAAP STATEMENT OF OPERATIONS FOR THE NINE MONTHS
ENDED SEPTEMBER 30, 2016 AND 2015
ALLERGAN PLC
GAAP TO NON-GAAP ADJUSTMENTS
(Unaudited; in millions)
GAAP
COGS
1,381.1
Research &
Development
1,662.4
Selling &
Marketing
2,429.6
(42.4)
(3.5)
(5.7)
(26.2)
(57.5)
(6.4)
(31.8)
(55.3)
(35.7)
(3.6)
(8.9)
(6.7)
3.4
(8.0)
(3.7)
(17.8)
(121.5)
(85.8)
(89.2)
(59.7)
(48.2)
(100.0)
(125.0)
(34.2)
(13.4)
(65.8)
(150.0)
Income taxes
(825.8)
(0.1)
(18.4)
(24.0)
(189.9)
(5.8)
-
(0.1)
-
(42.0)
(37.0)
-
Net Revenue
10,706.3
10,706.3
1,302.9
1,007.9
(100.0)
(4.5)
-
(4,831.9)
-
2,336.3
678.4
(40.6)
-
(1,020.0) $
34.2
1,127.8
62.2
$
364.2
ALLERGAN PLC
GAAP TO NON-GAAP ADJUSTMENTS
(Unaudited; in millions)
GAAP
Net Revenue
9,081.2
COGS
2,150.0
Research &
Development
1,927.9
Selling &
Marketing
2,017.2
(977.7)
(35.3)
(19.2)
(119.0)
(100.2)
(262.1)
(11.5)
(2.0)
(75.3)
(23.2)
(79.6)
(0.5)
(124.7)
(241.0)
(571.7)
(50.0)
(250.0)
(25.6)
(53.1)
(34.7)
(3.8)
-
0.3
-
1.7
-
9,077.4
1,051.2
778.7
1,838.6
0.5
(42.2)
-
488.4
(192.1)
(3,858.9)
$
(20.5)
(9.6)
$
(50.8)
-
(300.0)
(8.6)
$
(895.2) $
263.0
(31.0)
2.3
(3.8) $
1,350.3
450.0
309.3
44
(381.9)
$ (876.4)
1,609.1
321.5
15.9
37.3
18.2
40.8
(282.2)
1,557.8
1,297.7
81.3
295.6
4.5
17.5
(956.7)
(899.2)
$ (2,155.6)
4,831.9
793.2
79.3
292.9
18.4
100.0
(1,190.0)
3,858.9
3,155.9
87.3
500.7
42.2
20.5
(1,800.3)
$ 1,378.7
$ 1,421.3
4,026.5
3,709.6
Diluted (loss) per share from continuing operations attributable to shareholders- GAAP
(0.97)
(2.23)
(2.28)
(6.01)
3.32
3.41
9.66
9.82
392.7
393.6
394.4
358.9
22.0
414.7
22.7
416.3
22.3
416.7
18.8
377.7
Includes stock-based compensation due to the Allergan, Forest and Warner Chilcott acquisitions as well as the valuation accounting impact in interest expense, net.
45
(381.9)
324.3
(18.1)
(158.9)
40.7
1,609.1
1,415.2
293.8
37.3
18.2
40.8
15.9
81.0
1,902.2
(876.4)
340.2
(3.5)
(838.9)
37.9
1,557.8
217.1
1,254.2
295.6
4.5
17.5
81.3
117.0
1,987.2
(899.2)
1,002.9
(23.5)
(825.8)
114.5
4,831.9
4,200.8
704.6
292.9
18.4
100.0
79.3
257.0
5,653.0
(2,155.6)
852.0
(7.6)
(1,491.0)
96.0
3,858.9
1,152.7
2,706.2
500.7
42.2
20.5
87.3
625.3
5,134.9
(40.7)
(34.1)
(37.9)
-
(114.5)
(34.1)
(96.0)
-
(43.0)
(54.1)
(127.8)
(124.8)
1,784.4
1,895.2
5,376.6
4,914.1
46
Restasis
Lumigan /Ganfort
Alphagan /Combigan
Ozurdex
Eye Drops
Other Eye Care
Total Medical Aesthetics
Facial Aesthetics
Botox Cosmetics
Fillers
Kybella
Plastic Surgery
Breast Implants
Other Plastic Surgery
Skin Care
SkinMedica
Latisse
Total Medical Dermatology
Aczone
Tazorac
Botox Hyperhidrosis
Other Medical Dermatology
Total Neuroscience & Urology
Botox Therapeutics
Rapaflo
Other Revenues
Net revenues
(1)
608.5
356.4
78.3
93.4
20.9
50.2
9.3
388.9
293.7
174.5
105.0
14.2
52.2
51.1
1.1
43.0
25.8
17.2
116.1
69.0
27.5
16.3
3.3
330.7
305.5
25.2
9.0
1,453.2
2015
$
(1) Includes revenues earned that were distributed through the Anda Distribution business to third party customers.
(1)
539.9
312.8
71.7
81.4
17.6
45.3
11.1
340.1
249.0
159.3
89.7
54.3
50.9
3.4
36.8
23.0
13.8
107.8
48.0
27.6
15.0
17.2
291.4
261.3
30.1
17.4
1,296.6
Dollars
$
68.6
43.6
6.6
12.0
3.3
4.9
(1.8)
48.8
44.7
15.2
15.3
14.2
(2.1)
0.2
(2.3)
6.2
2.8
3.4
8.3
21.0
(0.1)
1.3
(13.9)
39.3
44.2
(4.9)
(8.4)
156.6
%
12.7%
13.9%
9.2%
14.7%
18.8%
10.8%
(16.2)%
14.3%
18.0%
9.5%
17.1%
n.a.
(3.9)%
0.4%
(67.6)%
16.8%
12.2%
24.6%
7.7%
43.8%
(0.4)%
8.7%
(80.8)%
13.5%
16.9%
(16.3)%
(48.3)%
12.1%
47
Restasis
Lumigan /Ganfort
Alphagan /Combigan
Ozurdex
Eye Drops
Other Eye Care
Total Medical Aesthetics
Facial Aesthetics
Botox Cosmetics
Fillers
Kybella
Plastic Surgery
Breast Implants
Other Plastic Surgery
Skin Care
SkinMedica
Latisse
Total Medical Dermatology
Aczone
Tazorac
Botox Hyperhidrosis
Other Medical Dermatology
Total Neuroscience & Urology
Botox Therapeutics
Rapaflo
Other Neuroscience & Urology
Other Revenues
Net revenues
(1)
1,777.6
1,026.4
240.4
274.3
61.8
140.1
34.6
1,182.6
893.3
529.8
325.3
38.2
153.1
149.2
3.9
136.2
81.5
54.7
282.2
156.1
68.0
48.9
9.2
963.8
875.3
87.6
0.9
34.6
4,240.8
2015
$
(1) Includes revenues earned that were distributed through the Anda Distribution business to third party customers.
(1)
1,213.2
651.4
165.9
184.9
36.9
131.8
42.3
761.4
547.9
341.2
206.7
122.5
112.8
9.7
91.0
51.6
39.4
249.4
114.3
65.7
35.5
33.9
637.2
549.7
87.5
28.4
2,889.6
Dollars
$
564.4
375.0
74.5
89.4
24.9
8.3
(7.7)
421.2
345.4
188.6
118.6
38.2
30.6
36.4
(5.8)
45.2
29.9
15.3
32.8
41.8
2.3
13.4
(24.7)
326.6
325.6
0.1
0.9
6.2
1,351.2
%
46.5%
57.6%
44.9%
48.4%
67.5%
6.3%
(18.2)%
55.3%
63.0%
55.3%
57.4%
n.a.
25.0%
32.3%
(59.8)%
49.7%
57.9%
38.8%
13.2%
36.6%
3.5%
37.7%
(72.9)%
51.3%
59.2%
0.1%
n.a.
21.8%
46.8%
48
TABLE 9: NET REVENUES AND CONTRIBUTION MARGIN FOR US GENERAL MEDICINE BUSINESS
SEGMENT FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 AND 2015
Table 9
ALLERGAN PLC
US General Medicine Product Revenue
(Unaudited; in millions)
Change
Namenda XR
Namzaric
Viibryd /Fetzima
Vraylar
Saphris
Namenda IR
Total Gastrointestinal (GI)
Linzess
Viberzi
Asacol /Delzicol
Carafate /Sulcrate
Canasa /Salofalk
Zenpep
Other GI
Lo Loestrin
Minastrin 24
Estrace Cream
Liletta
Other Women's Health
Total Anti-Infectives
Teflaro
Avycaz
Dalvance
Other Anti-Infectives
Established Brands
Bystolic
Armour Thyroid
Enablex
Lexapro
Savella
PacPharma
Other Established Brands
Other Revenues
Net revenues
(1)
325.5
146.9
14.9
87.6
32.4
40.8
2.9
431.4
164.4
30.9
72.2
56.4
47.2
52.5
7.8
305.3
105.7
84.9
98.6
4.4
11.7
52.5
33.3
4.8
10.3
4.1
319.3
163.9
39.1
1.9
15.6
28.1
6.2
64.5
54.1
1,488.1
2015
$
(1) Includes revenues earned that were distributed through the Anda Distribution business to third party customers.
(1)
406.7
214.5
1.7
84.5
51.1
54.9
398.6
117.5
141.9
52.9
34.6
43.1
8.6
268.0
89.8
74.4
87.4
5.8
10.6
52.3
35.8
7.5
4.9
4.1
400.5
155.3
34.7
17.2
17.8
29.0
27.4
119.1
25.9
1,552.0
Dollars
(81.2)
(67.6)
13.2
3.1
32.4
(10.3)
(52.0)
32.8
46.9
30.9
(69.7)
3.5
12.6
9.4
(0.8)
37.3
15.9
10.5
11.2
(1.4)
1.1
0.2
(2.5)
(2.7)
5.4
(81.2)
8.6
4.4
(15.3)
(2.2)
(0.9)
(21.2)
(54.6)
28.2
(63.9)
%
(20.0)%
(31.5)%
n.m.
3.7%
n.a.
(20.2)%
(94.7)%
8.2%
39.9%
n.a.
(49.1)%
6.6%
36.4%
21.8%
(9.3)%
13.9%
17.7%
14.1%
12.8%
(24.1)%
10.4%
0.4%
(7.0)%
(36.0)%
110.2%
0.0%
(20.3)%
5.5%
12.7%
(89.0)%
(12.4)%
(3.1)%
(77.4)%
(45.8)%
108.9%
(4.1)%
49
TABLE 9 (CONT): NET REVENUES AND CONTRIBUTION MARGIN FOR US GENERAL MEDICINE
BUSINESS SEGMENT FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND 2015
Change
Namenda XR
Namzaric
Viibryd /Fetzima
Vraylar
Saphris
Namenda IR
Total Gastrointestinal (GI)
Linzess
Viberzi
Asacol /Delzicol
Carafate /Sulcrate
Canasa /Salofalk
Zenpep
Other GI
Total Women's Health
Lo Loestrin
Minastrin 24
Estrace Cream
Liletta
Other Women's Health
Total Anti-Infectives
Teflaro
Avycaz
Dalvance
Other Anti-Infectives
Established Brands
Bystolic
Armour Thyroid
Enablex
Lexapro
Savella
PacPharma
Other Established Brands
Other Revenues
Net revenues
(1)
964.6
486.5
38.0
252.6
51.1
123.6
12.8
1,277.0
452.0
55.3
297.9
167.7
135.0
145.1
24.0
865.1
296.0
247.5
276.4
15.0
30.2
167.1
101.9
26.9
26.7
11.6
1,038.8
477.8
121.8
14.7
50.8
74.1
49.7
249.9
78.3
4,390.9
2015
$
(1) Includes revenues earned that were distributed through the Anda Distribution business to third party customers.
(1)
1,485.1
569.8
3.3
244.8
134.3
532.9
1,138.4
325.1
407.8
153.4
102.2
121.5
28.4
716.7
251.7
195.3
229.4
10.7
29.6
138.3
105.3
12.9
11.3
8.8
1,267.7
476.1
88.9
51.5
53.6
80.6
56.6
460.4
57.5
4,803.7
Dollars
(520.5)
(83.3)
34.7
7.8
51.1
(10.7)
(520.1)
138.6
126.9
55.3
(109.9)
14.3
32.8
23.6
(4.4)
148.4
44.3
52.2
47.0
4.3
0.6
28.8
(3.4)
14.0
15.4
2.8
(228.9)
1.7
32.9
(36.8)
(2.8)
(6.5)
(6.9)
(210.5)
20.8
(412.8)
%
(35.0)%
(14.6)%
n.m.
3.2%
n.a.
(8.0)%
(97.6)%
12.2%
39.0%
n.a.
(26.9)%
9.3%
32.1%
19.4%
(15.5)%
20.7%
17.6%
26.7%
20.5%
40.2%
2.0%
20.8%
(3.2)%
108.5%
136.3%
31.8%
(18.1)%
0.4%
37.0%
(71.5)%
(5.2)%
(8.1)%
(12.2)%
(45.7)%
36.2%
(8.6)%
50
TABLE 10: NET REVENUES AND CONTRIBUTION MARGIN FOR INTERNATIONAL BUSINESS
SEGMENT FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 AND 2015
Table 10
ALLERGAN PLC
International Product Revenue
(Unaudited; in millions)
Change
Lumigan /Ganfort
Alphagan /Combigan
Ozurdex
Optive
Other Eye Drops
Restasis
Other Eye Care
Total Medical Aesthetics
Facial Aesthetics
Botox Cosmetics
Fillers
Belkyra (Kybella )
Plastic Surgery
Breast Implants
Earfold
Skin Care
Botox Therapeutics
Asacol /Delzicol
Constella
Other Products**
Other Revenues
Net revenues**
294.2
86.6
41.3
43.4
25.6
42.1
15.4
39.8
251.0
212.6
115.3
96.8
0.5
35.8
35.6
0.2
2.6
134.6
78.1
14.2
4.3
38.0
18.0
697.8
281.5
86.2
39.4
34.0
23.2
44.0
15.5
39.2
214.8
176.5
98.6
77.9
34.6
34.6
3.7
155.5
70.2
15.3
1.1
68.9
8.8
660.6
Dollars
$
12.7
0.4
1.9
9.4
2.4
(1.9)
(0.1)
0.6
36.2
36.1
16.7
18.9
0.5
1.2
1.0
0.2
(1.1)
(20.9)
7.9
(1.1)
3.2
(30.9)
9.2
37.2
%
4.5%
0.5%
4.8%
27.6%
10.3%
(4.3)%
(0.6)%
1.5%
16.9%
20.5%
16.9%
24.3%
n.a.
3.5%
2.9%
n.a.
(29.7)%
(13.4)%
11.3%
(7.2)%
n.m.
(44.8)%
104.5%
5.6%
** Includes an adjustment of $31.7 million recorded in the three months ended September 30, 2015
related to international other product revenues for the six months ended June 30, 2015 that were
reported in discontinued operations instead of continuing operations during the six months ended
June 30, 2015. The impact of this out-of-period adjustment is not material to the six months
ended June 30, 2015 or the three months ended September 30, 2015 and had no impact on the
nine months ended September 30, 2015. Excluding this adjustment, international revenues would
have increased 12% on a performance basis.
51
Lumigan /Ganfort
Alphagan /Combigan
Ozurdex
Optive
Other Eye Drops
Restasis
Other Eye Care
Total Medical Aesthetics
Facial Aesthetics
Botox Cosmetics
Fillers
Belkyra (Kybella )
Plastic Surgery
Breast Implants
Earfold
Skin Care
Botox Therapeutics
Asacol /Delzicol
Constella
Other Products
Other Revenues
Net revenues
904.4
269.2
127.3
130.2
75.7
131.2
49.7
121.1
780.0
658.7
352.9
304.2
1.6
112.9
112.5
0.4
8.4
399.0
240.0
40.5
12.7
105.8
44.7
2,128.1
623.7
189.7
87.4
72.7
51.9
99.5
31.8
90.7
509.9
416.4
234.9
181.5
85.6
85.6
7.9
321.5
158.5
47.8
2.9
112.3
41.3
1,496.4
Dollars
$
280.7
79.5
39.9
57.5
23.8
31.7
17.9
30.4
270.1
242.3
118.0
122.7
1.6
27.3
26.9
0.4
0.5
77.5
81.5
(7.3)
9.8
(6.5)
3.4
631.7
%
45.0%
41.9%
45.7%
79.1%
45.9%
31.9%
56.3%
33.5%
53.0%
58.2%
50.2%
67.6%
n.a.
31.9%
31.4%
n.a.
6.3%
24.1%
51.4%
(15.3)%
n.m.
(5.8)%
8.2%
42.2%
52
$ in millions
GAAP (loss) from continuing operations attributable to shareholders
Adjusted for:
Amortization
LOW
HIGH
$ (1,225.0)
$ (1,150.0)
(1)
6,440.0
6,440.0
1,175.0
85.0
292.9
18.4
100.0
1,225.0
95.0
292.9
18.4
100.0
(1,461.3)
(1,511.3)
$ 5,425.0
$ 5,510.0
Diluted (loss) per share from continuing operations attributable to shareholders- GAAP
(3.17)
(2.98)
13.30
13.50
386.0
386.0
22.0
22.0
408.0
408.0
53
US Specialized Therapeutics
Restasis
Lumigan/Ganfort
Eye Care
AlphaganCombigan
Ozurdex
Eye Drops
CNS
Breast implants
GastroIntestinal
Med
Dermatology
Neuroscience
& Urology
Tazorac
Botox
Hyperhidrosis
Other Derm
(include): Cordran
tape/others
Botox Therapeutic
Rapaflo
AlphaganCombigan
Zenpep
Ozurdex
Optive
Asacol/Delzicol
Restasis
Other GI (includes):
Pylera
Viokace
Reactiv
Other Eye
care
(includes):
Elestat
Trivaris
Acular
Acuvail
Zymar
Zymaxid
Ocuflox
Z-Pred
Lastacaft
Other
Canasa/Salofalk
Facial Aesthetics
Other: SeriScaffold
Aczone
Saphris
Carafate/Sulcrate
Womens
Health
Latisse
Namzaric
Viberzi
Skin Care
SkinMedica
Lumigan/Ganfort
Linzess
Fillers
Plastic Surgery
Vraylar
Eye Care
Kybella
Medical
Aesthetics
Namenda XR/IR
Viibryd/Fetzima
Facial Aesthetics
Botox Cosmetic
International
AntiInfectives
Lo Loestrin
Liletta
Minastrin 24
Estrace Cream
Other WH (includes)
Crinone
Nuvessa
Teflaro
Dalvance
Avycaz
Other AI (includes):
Monurol
Bystolic
Savella
Armour Thyroid
Established
Brands/All
Other
Enablex
Lexapro
PacPharma
Other Established
Brands : Actonel,
Aerochamber,
Androderm, Bentyl,
Celexa, Femring,
Fioricet, Generess,
Infed, Kadian Norco,
Morphine, Other
Botox Cosmetic
Belkyra (Kybella)
Medical
Aesthetics
Fillers
Plastic Surgery
Breast
implants
Other
Skin Care
Botox Therapeutics
Other
Therapeutics
Asacol/Delzicol
Constella
Others include: Rapaflo,
Macrobid, other
54