New drugs help Actavis beat profit estimates
(Reuters) - Generic drugmaker Actavis Inc (ACT.N), formerly known as Watson Pharmaceuticals, reported an adjusted quarterly profit that beat market estimates, helped by new products, and the company raised its earnings forecast for the full year.
Actavis posted a net loss of $102.8 million, or 79 cents per share, for the first quarter, hit by charges related to the acquisition of Actavis Group and Uteron Pharma. It had net income of $54.8 million, or 43 cents per share, a year earlier.
Excluding one-time items, the world's third-largest generic drugmaker earned $1.99 per share, above the average analyst estimate of $1.86, according to Thomson Reuters I/B/E/S.
(Reporting by Esha Dey in Bangalore)
- White House reverses, says Obama met uncle and lived with him during law school
- South Africans, some fearful, wake to life without Mandela |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Ford leans on global Mustang to burnish overseas image