Allergan’s Restasis Sales Increase 3.4 Percent in Q1-2017

May 12, 2017: By Joan McKenna

Allergan-logoAllergan’s Restasis sales continued to grow in the US in the first quarter of 2017 despite the market entry of competitor Xiidra in August 2016. CEO Brent Saunders said the company was “back on offense” with two new launches in the dry eye segment: Restasis Multidose Preservative Free (MDPF) and TrueTear, a nasal neurostimulator.

Allergan reported May 9 that Restasis’ net revenues in Q1-2017 totaled to $308.8 million, a 3.4 percent increase over Q1-2016.

Bill Meury, Allergan’s chief commercial officer, told analysts that Restasis had proven “durable” in the face of Xiidra, and the drug maintained a 75 percent share of the dry eye market, with the market itself growing 25 percent over the past year.

Meury said newly approved Restasis MDPF accounted for about a 10 percent share of new Restasis prescriptions after one month of promotion.

And he said TrueTear’s launch is being rolled out in stages now through 2018.

In the US, Allergan’s glaucoma drug franchise saw a modest decline, with Alphagan/Combigan net revenues stable at $86.4 million, while Lumigan/Ganfort net revenues declined 9 percent to $74.3 million.

Ozurdex net revenues in the US were $22.5 million, up 16 percent over Q1-2016, driven by continued strong demand from the diabetic macular edema indication.

Outside the US, Restasis sales declined 7.3 percent to $13.9 million from $15.0 million. Allergan’s Lumigan/Ganfort and Alphagan/Combigan revenues were a stable $85.9 million and $42.3 million, respectively, while Ozurdex revenues were up 29 percent and totaled $51.1 million, excluding foreign exchange impact. Optive revenues outside the US were $27.5 million, up 13 percent, excluding foreign exchange.

Also of note, Allergan said it has completed enrollment of both Phase III studies of abicipar pegol, a long-acting VEGF inhibitor based on DARPin technology, in wet age-related macular degeneration, and the firm expects top line results in 2018.

Allergan reported a Q1-2017 operational loss from continuing operations of $906 million, due in part to amortization and charges related to research and development. The company reduced its debt by $1 billion in Q1-2017, with total debt now standing at about $31.8 billion.

Dublin-based Allergan said its tax rate for the full year is anticipated at about 13 percent.

Allergan’s total net revenues were $3.6 billion, a 5 percent increase over Q1-2016. The company raised its guidance to a range of $15.8 billion to $16 billion, up from previous guidance of $15.5 billion to $15.8 billion range.

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