The company's central nervous system revenue came to 5.2 million, compared with the Fact Set consensus of 5.4 million; gastrointestinal revenue came to 3.5 million, compared with the Fact Set consensus of 9.4 million; women's health revenue came to 5.7 million, above the Fact Set consensus of 8.4 million, and diversified brands revenue came to 8.7 million, below the 3.9 million Fact Set consensus.
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The litigation stems from an attempt by Valeant and Pershing to acquire Allergan in 2014. Valeant shares were slightly lower Friday, but have gained 45% in 2017, while the S&P 500 has gained about 20%. shares surged nearly 38% in extremely heavy morning trade Tuesday after the company reported positive results for its wrinkle-relaxing injection in two late-stage clinical trials.
Allergan PLC shares ticked higher in the extended session Wednesday after the drugmaker said the Food and Drug Administration accepted for review a marketing application for a new acne treatment. If approved, the product, Daxibotulinumtoxin A for Injection (RT002), would be the first of its kind to last six months.
The Quebec-based drug company said it will pay $96.25 million, or 33%, of the settlement.
shareholder securities litigation have agreed to resolve the claims that total $290 million, subject to court approval.
The company narrowed its 2017 revenue guidance to $15.88 million to $16.03 million from previous guidance of $15.85 million to $16.05 million.