Allergan plc

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2020 10-Q, filed May 7, 2020. Its latest SEC filing is a 15-12B from May 21, 2020.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Sold branded medicines and medical devices for medical aesthetics, eye care and other health needs to patients and physicians.

How Did They Make Money?

FY2019 revenue

Who Were Their Customers?

Sold branded medicines and aesthetic products mainly through drug wholesalers, retailers and distributors to pharmacies, hospitals, clinics and health plans; some aesthetic products and devices were sold directly to physicians.

Did Revenues Turn Into Profits?

Not on paper. It lost $5.3B in FY2019, but brought in more cash than it spent: $6.9B of free cash flow.

Operating income, FY2019

−28% of revenue

▼ −29% (Loss) vs FY2018 (−$6.2B, −40%)

Net income, FY2019

−33% of revenue

▲ +3% (Loss) vs FY2018 (−$5.1B, −32%)

Free cash flow, FY2019

43% of revenue

▲ +27% vs FY2018 ($5.4B, 34%)

How Were They Changing?

Since the FY2019 annual report

Latest quarter: Q1 FY2020, the three months to Mar 31, 2020

Revenue: ▲ 0%; vs $3.6B in Q1 FY2019
Net income: ▲ Now profitable; vs −$2.4B in Q1 FY2019

May 8, 2020 AbbVie completed its acquisition of Allergan Allergan became a direct wholly owned subsidiary of AbbVie.
May 6, 2020 Allergan agreed to divest products under the FTC consent order The agreed sales covered brazikumab to AstraZeneca and Zenpep and Viokace to Nestle Health Science.

Grew. Revenue grew 27% in 4 years, from $12.7B in FY2015 to $16.1B in FY2019, about 6% a year.

From generics to branded products The older report said Teva acquired Allergan’s global generics business; the latest described Allergan as focused on branded medicines, devices and related treatments.

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