January 8, 2018 / 10:09 PM / 2 months ago

Allergan forecasts 2018 revenue below estimates

Jan 8 (Reuters) - Allergan Plc on Monday forecast 2018 revenue below analysts’ estimates, hurt by loss of market exclusivity of its products and said it plans to sell its remaining stake in Teva this year.

The company said it expects total net revenue of $15.0 billion-$15.3 billion for full-year 2018, compared to analysts’ estimates of $15.61 billion, according to Thomson Reuters I/B/E/S.

The Botox-maker had said in November that it would sell under a quarter of its 10 percent stake in Teva during the first quarter of 2018.

Allergan also said it does not expect any generic copies of its eye drug Restasis before the second quarter of 2018.

The company provided the updates at the J.P. Morgan Healthcare Conference in San Fransisco. (Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta)

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