Drugmaker Actavis forecasts profit below estimates
(Reuters) - Generic drug maker Actavis Plc's (ACT.N) full-year profit forecast missed analysts' estimates, sending its shares down about 3 percent in premarket trading.
Actavis said it expects profit of $13.02-$13.32 per share for the year ending December, below Wall Street estimates of $13.73 per share.
The company reported a net profit of $48.7 million, or 28 cents per share, attributable to shareholders for the second quarter ended June 30, compared with a net loss of $564.8 million, or $4.27 per share, a year earlier.
Excluding items, Actavis earned $3.42 per share in the second quarter.
Revenue increased to $2.67 billion from $1.99 billion.
The Dublin-based company's shares closed at $215.77 on New York Stock Exchange on Monday.
(This story has been refiled to add the word "December" in the second paragraph)
(Reporting by Anjali Rao Koppala in Bangalore; Editing by Kirti Pandey)