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REFILE-UPDATE 1-Drugmaker Actavis forecasts profit below estimates
August 5, 2014 / 12:26 PM / 3 years ago

REFILE-UPDATE 1-Drugmaker Actavis forecasts profit below estimates

(Corrects to add dropped word “December” in paragraph 2)

Aug 5 (Reuters) - Generic drug maker Actavis Plc’s 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. (Reporting by Anjali Rao Koppala in Bangalore; Editing by Kirti Pandey)

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