Boston, MA 02/20/2014 (wallstreetpr) – Actavis plc Ordinary Shares (NYSE:ACT), posted its fourth quarter results for the period ending 31, 2013 that show a 59% increase in revenue of $2.78 billion for the quarter, compared to 4Q 2012 revenues of $1.75 billion. This was the most successful year for Actavis that saw it acquire Warner Chillicot plc.While also becoming a global premier leader in pharmaceutical.
Financial outlook
The fourth quarter saw the company post non-GAAP earnings per share of $3.17 compared to 4Q 2012 earnings of $1.59. Adjusted EBITDA increased by 108% to come in at $817.1 million compared to $393.0 million recorded for the same period a year ago.
Cash flow from Actavis operations throughout the quarter stood at $651.7 million with cash and marketable securities as of December 31, 2013 being $331.5 million. Full year net revenue increased by 47%to $8.7 billion compared net revenue of $5.9 billion in the 2012 fiscal year.
Actavis plc Ordinary Shares (NYSE:ACT) earnings per share on a non GAAP basis for the full year grew by 58% to clock at an all-time high of $9.50 per diluted share compared toearnings of $6 reported in 4Q 2012. The results for the fourth quarter and full year was inclusive of contribution from Actavis new acquisition Warner Chillicot business.
Actavis plc Ordinary Shares (NYSE:ACT) seem to be taking new acquisitions more seriously as it recently announced acquisition of Forest laboratories as it plans to spread its wings even further in the pharmaceutical industry
Actavis plc Ordinary Shares (NYSE:ACT) has essentially positioned itself more strategically for the current fiscal year is it plans to outdo itself in terms of revenue collection while also delivering sustainable long-term organic growth. The massive growth experienced during the fourth quarter and full year was as a result of increased sales of core products in the US. Products such as Rapaflo and Generess Fe franchises hit double figures in terms of growth for the full year.
Generic business in the US continues to grow as strong product launches such as Suboxone Sublingual tablets and Cymbatia continue to excel in the market. During the year, Actavis plc Ordinary Shares (NYSE:ACT) was able to launch 674 new products for the international market which also performed well in terms of sales.
2014 Financial outlook
The recent acquisition of Forest Laboratories essentially means Actavis plc Ordinary Shares (NYSE:ACT) will have to provide a new financial outlook for the year which should be higher than that of F2013.
