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What Allergan's Latest Developments Tell Us

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Part 3
What Allergan's Latest Developments Tell Us PART 3 OF 7

Inside Allergan’s 2Q17 Performance by Business Segment

Allergan’s business segments

Allergan (AGN) restructured its business after acquisitions and divestitures and is now segregated into the following three segments:

  • US Specialized therapeutics
  • US General Medicine
  • International

Inside Allergan’s 2Q17 Performance by Business Segment

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US Specialized Therapeutics

The US Specialized Therapeutics segment includes eye care products, medical aesthetics products (including facial aesthetics, skin care, plastic surgery, and other products), medical dermatology products, and neuroscience and urology products.

This segment reported a ~15% rise in revenues to $1.7 billion in 2Q17, compared with $1.49 billion in 2Q16.

US General Medicine

US General Medicine business includes anti-infectives products, central nervous system products, diversified brands, gastroenterology products, women’s health products, and other products.

This segment reported a 1.5% fall in revenues to $1.43 billion for 2Q17, compared with $1.45 billion in 2Q16.

International

Allergan’s International business includes Botox therapeutics products, eye care products, medical aesthetics products, and other products outside of the US.

This segment reported a 13.4% growth in revenues to $859 million during 2Q17, compared with $757 million in 2Q16. Its operational growth of 16.2% was offset by a 2.8% negative impact from foreign exchange in 2Q17.

To divest company-specific risks, investors can consider ETFs like the First Trust NASDAQ Pharmaceuticals ETF (FTXH), which has 4.1% of its total assets in Allergan. FTXH also has 9.1% in Abbott Laboratories (ABT), 5.3% in Sage Therapeutics (SAGE), and 3.3% in Mylan (MYL).

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