Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Allergan plc    AGN   IE00BY9D5467

ALLERGAN PLC (AGN)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Allergan : to cut over 1,000 jobs as it works to cut costs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/03/2018 | 08:02pm CEST
The Allergan logo is seen in this photo illustration

NEW YORK (Reuters) - Botox-maker Allergan Plc on Wednesday said it plans to cut over 1,000 jobs, more than 5 percent of its workforce, and eliminate an additional 400 currently open positions, as it works to cut costs in the face of new competition for its second most important drug, dry-eye treatment Restasis.

The company said the jobs and positions it plans to eliminate mostly focus on products and categories where the company has or expects to soon lose exclusivity.

The drugmaker said it expects to take a $125 million charge from the job cuts, primarily due to severance, most of which will be recorded in the fourth quarter of 2017.

Analysts estimated that the company had around $5.8 billion of net income in 2017 on roughly $15.9 billion of revenue, according to Thomson Reuters I/B/E/S.

It said cost savings from this restructuring program

should be around $300 million to $400 million per year. Allergan currently employs 18,000 people, according to its website. RBC Capital Markets analyst Randall Stanicky said the savings should add around 75 cents to $1 of earnings per share support going forward.

In November, the company said it was working on a program to expand its base business and reduce costs so it could return to earnings growth by 2019, but did not disclose a specific strategy at that point.

Allergan worked hard in recent years to protect Restasis, which generated about $1.5 billion in sales in 2016, from generic rivals. It struck a controversial deal with a Native American tribe in September to shield review of the patents by U.S. regulators, drawing the ire of lawmakers and rival drug companies.

But in October, a Texas federal judge invalidated Restasis patents on grounds that they cover ideas that are obvious, making it possible for rival generics to hit the market as early as next year. Allergan has appealed the ruling.

Shares of Allergan rose $1.02, or 0.6 percent, to $171.34 in afternoon trading on Wednesday.

(Reporting by Michael Erman; Editing by Chizu Nomiyama, Alistair Bell and David Gregorio)

By Michael Erman

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ALLERGAN PLC
07/12ALLERGAN : An Application for the Trademark "VESSILA" Has Been Filed by Allergan
AQ
07/12Novartis Becomes Latest Player to Exit Antibiotic, Antiviral Research
DJ
07/12ALLERGAN : Expands REFRESH Portfolio With New REFRESH REPAIR Lubricant Eye Drops
AQ
07/11ALLERGAN : Forbion raises EUR 270M, surpassing target for fourth fund
AQ
07/10ALLERGAN : Expands REFRESH® Portfolio With New REFRESH® REPAIR Lubricant Eye Dro..
PR
07/06ALLERGAN : Study in Chronic Migraine Receives Migraine Research Award at the Ame..
AQ
07/05ALLERGAN : An Application for the Trademark "ANDRODERM" Has Been Filed by Allerg..
AQ
06/29ALLERGAN : Eases Manual Data Entry and Contract Management Pains with Pramatas B..
AQ
06/28ALLERGAN : An Application for the Trademark "ANDRODERM" Has Been Filed by Allerg..
AQ
06/28ALLERGAN : Study in Chronic Migraine Receives Migraine Research Award at the Ame..
PU
More news
News from SeekingAlpha
07/18Madrigal Is Unreasonably Priced For Perfection And Limited Competition 
07/18FDA committed to easing approval path for biosimilars 
07/16CVS responds to Trump Administration's request for info on now to lower drug .. 
07/16ALLERGAN : Crucial Period Ahead For Company As Activist Pressure Mounts 
07/12Establishment Labs Prepares For U.S. IPO 
Financials ($)
Sales 2018 15 306 M
EBIT 2018 7 381 M
Net income 2018 -1 152 M
Debt 2018 23 173 M
Yield 2018 1,56%
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 5,41x
EV / Sales 2019 5,09x
Capitalization 59 560 M
Chart ALLERGAN PLC
Duration : Period :
Allergan plc Technical Analysis Chart | AGN | IE00BY9D5467 | 4-Traders
Technical analysis trends ALLERGAN PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 207 $
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
Brenton L. Saunders Chairman, President & Chief Executive Officer
Wayne R. Swanton Executive Vice President-Global Operations
Matthew M. Walsh Chief Financial Officer & Executive Vice President
C. David Nicholson Chief Research & Development Officer
Paul M. Bisaro Director
Sector and Competitors
1st jan.Capitalization (M$)
ALLERGAN PLC7.51%59 560
JOHNSON & JOHNSON-10.76%346 292
PFIZER3.20%220 236
ROCHE HOLDING LTD.-5.88%200 995
NOVARTIS-5.10%200 139
MERCK AND COMPANY11.12%168 225