American pharmaceutical company Allergan Plc reported on Tuesday the revenue for the fourth quarter of 2018 stood at $4.08 billion, down 6% compared to the same quarter of 2017. Company's loss per share stood at $12.83 in the last three months of the year, down 30% compared to the fourth quarter in 2017.
The company reported net revenue of $15.78 billion for the whole of 2018, down 5% in comparison to the year before. The pharmaceutical company's full-year 2018 loss per share stood at $15.26, an increase of 15% compared to the previous year. Allergan's research and development expenses amounted $678 million in the fourth quarter of 2018, a significant increase compared to the same period of 2017 when the company spent around 40% less.
"Allergan posted another quarter of strong results to close out 2018, underscoring our focus on execution, financial discipline and the strength of our core business which grew 8.3 percent. I'm also proud of the significant advances we have made in our R&D pipeline with positive clinical results reported from six late-stage development programs," Allergan Chief Executive Officer Brent Saunders said commenting on the report.
Following the release of corporate results, Allergan shares dropped 3.59% during the premarket trade on Wall Street.
