Actavis, the supplier of generic and branded pharmaceuticals that agreed to acquire Allergan in November in a bid against Valeant Pharmaceuticals, will change its name to Allergan for its portfolio of branded products after the takeover is completed. It will keep the name Actavis for other products and for specific regions.
Meanwhile, Allergan reported strong growth for the fourth quarter of 2014 and the full financial year, ended Dec. 31. The growth rates were the strongest of any quarter in the company's 66-year corporate history, and the gains were broad-based.
Allergan's total product sales jumped by 13.8 percent to $1,889.0 million in the quarter, up by 17.2 percent in constant currencies. Sale s of specialty pharmaceuticals increased by 12.4 percent, with a currency-neutral gain of 15.3 percent. Sales of medical devices were up by 20.7 percent in dollars and 26.9 percent in local currencies.
Operating income increased to $626.7 million from $454.8 million in the same quarter a year ago on a GAAP basis. Net earnings went up to $537.2 million from $312.9 million.
For the full financial year, product sales were up by nearly $1 billion to $7,126.1 million. They generated an operating profit of $2,009.3 million and net earnings of $1,528.8 million, up from $985.1 million in 2013.