DUBLIN (AP) — Allergan has reported a second-quarter loss of $243.1 million, due to charges from its latest round of deals since combining with Actavis PLC.
In March, Ireland-based Actavis closed its $66 billion purchase of the California-based specialty drugmaker Allergan, best known for its wrinkle-smoothing Botox injections. In June the company changed its corporate name to Allergan.
The company said Thursday that its revenue jumped 116 percent to $5.76 billion in the quarter on the strength of its combined product portfolio.
Results were weighed down by recent one-time acquisition expenses, including its purchase of Kythera Biopharmaceuticals for $2.1 billion in June. Kythera is developing a drug to treat excess tissue known as "double chin." Last month Allergan agreed to sell its generic pharmaceutical business to Israeli firm Teva Pharmaceuticals Industries for $40.5 billion.
On a per-share basis, the Dublin-based company said it had a loss of 80 cents. Earnings, adjusted for non-recurring costs, came to $4.41 per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of $4.41 per share.
Allergan shares have increased 31 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. The stock has climbed 57 percent in the last 12 months.