Professional Documents
Culture Documents
The Company believes that its non-GAAP measures provide useful information to investors because these are the financial measures used by our management team to evaluate our operating performance, make day to day operating decisions,
prepare internal forecasts, communicate external forward looking guidance to investors, compensate management and allocate the Companys resources. We believe this presentation also increases comparability of period to period results.
The Companys determination of significant charges or credits may not be comparable to similar measures used by other companies and may vary from period to period. The Company uses both GAAP financial measures and the disclosed non-GAAP
adjusted financial measures internally. These non-GAAP adjusted financial measures are in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.
2
AGENDA
1 Q2 2017 Highlights
Brent Saunders, Chairman & CEO
2 Commercial Highlights
Bill Meury, Chief Commercial Officer
3 R&D Update
David Nicholson, Chief R&D Officer
5 Q&A
3
BRENT
SAUNDERS
Chairman & CEO
2017 IS A PIVOTAL YEAR 1 ST HALF ON TRACK
EFFECTIVE
EXECUTION Managing expenses in light of LOE headwinds
AT THE CORE OF
A PIVOTAL YEAR
Continue to advance the 6 Stars and prioritize our
pipeline investments
Net revenue, net revenue growth and performance net income per share refer to non-GAAP
5
Q2 2017 RESULTS STRONG EXECUTION
* Gross margin in the three months ended June 30, 2017 includes a reimbursement of $15M for costs previously expensed through cost of sales.
** Includes unfavorable transactional Fx impact of $71M
6
Net revenue growth, gross margin, operating margin and performance net income per share refer to non-GAAP
BILL
MEURY
Chief Commercial Officer
Q2 COMMERCIAL EXECUTION CONTINUES TO FOCUS ON
OUR KEY PRIORITIES
MA = Medical Aesthetics; EC = Eye Care, CNS = Central Nervous System, GI = Gastrointestinal; INTL = International
8
STRONG, DURABLE GROWTH PARTIALLY OFFSET BY
DECLINE FROM PRODUCTS LOSING EXCLUSIVITY
($ millions)
10 9 8 4 0.3 0.5
12 11 +$322M
19 7 13 36 Y/Y
41 48
4,007
108 144 9%1
21.0
43
-7%
104 18% 18% 17%
15% -9%
12% 12% 12% -24%
14% 6%
221 -29%
3,685
5% -67%
0.1% 0.3%
Q216 Q217
Rev Rev
1. 8.7% growth excluding FX, Namenda IR and including ($24M) of revenues in Q2,16 related to the portion of Allergan product revenues sold by our former Anda Distribution Business which is reported in discontinued operations
2. Reflects 2 months from Coolsculpting
3. Viberzi (Q217 revenues $41M), Vraylar (Q217 revenues $66M), Kybella (Q217 revenues $15M), Namzaric (Q217 revenues $33M),XEN (Q217 revenues $6M), and Rhofade (Q217 revenues $5M)
4. Juvederm Collection refers to the sales of all fillers including Juvederm and Voluma
5. Represents all other products with less than $200M annual revenues, approximately <20% of total Q2
Q217 Growth Y/Y Q217 Pro-forma Growth Y/Y Q217 Pro-forma Growth Y/Y
Botox and Juvederm lines show strong growth across all Alloderm continues to exceed expectations driven Business is accelerating
geographies by new pre-pec procedure
System placements are at a high
Juvederm Collection share at all time high of ~52% in US Sales for breast implants increased versus prior
year with launch of Inspira Consumable demand is very strong
Kybellamarket development and co-positioning with
CoolSculpting
Pro-forma growth rates in Q2 versus prior year are worldwide and exclude Fx 10
MEDICAL AESTHETICS IS A BIG AND LONG TERM OPPORTUNITY
FURTHER PENETRATION AND EXPANSION POTENTIAL
~31% ~14%
649 672
1,101 594
560
843 482
370
313
2015 2016
2010 2011 2012 2013 2014 2015 2016
11
Source: 2017 FI Market data source: 2017 Pan-Aesthetic Study; Males and millennials data source: Cosmetic Surgery National Data Bank Statistics, ASAPS, 2007-2016.
EYE CARE: FOCUS ON MAINTAINING LEADERSHIP IN
DRY EYE WHILE EXPANDING RETINA
\
Restasis Volume Holds Growth Continues to Accelerate
Restasis Q2 volume demand stable vs prior year
Strong, double-digit growth continues +15% YoY in Q2 excluding Fx
o Revenues impacted by trade buying patterns
Primary source of growth is anti-VEGF failures
Allergan maintains promotional leadership and strong formulary coverage
o MDPF share of total volume at ~10%
DRY EYE MARKET UNIT SHARE (52 WEEKS) $80 NET REVENUES IN 2 YEARS
100%
Restasis (total); 81% $75
80% $575M in global
$70 net revenues
($Millions)
TMOTs Share
0% $45
Source: IMS RAPID, All Channels, *Units is 1 Month of Therapy based on Extended Units. QuintilesIMS lost visibility to a mail order supplier and restated
historical data starting July 2016 by removing data from that supplier. Current QuintilesIMS data is reduced by ~2.3% to previous QuintilesIMS Total Restasis
Revenues and revenue growth refers to non-GAAP 12
demand volume
CNS LAUNCHES: VRAYLAR & NAMZARIC CONTINUE TO
BE THE FOCUS
Growth rates in chart reflect Q2 2017 growth vs prior year excluding FX impact
LACAN: Latin America and Canada
APAC / MEA: Asia Pacific / Middle East and Africa 15
Revenue growth refer to non-GAAP
DAVID
NICHOLSON
Chief R&D Officer
DEVELOPMENT PROGRESS OF 6 STAR PROGRAMS
Recruitment on two Phase 3 trials in US progressing well
Ubrogepant Topline results expected 1H 2018
Acute Migraine Phase 3 program agreed with FDA*
Atogepant
Migraine Prophylaxis Phase 2b trial in US on track. Topline results 1H 2018
6
Rapastinel Phase 3 trials on track
MDD Topline results from short-term studies expected 2019
STAR
NDA submission for treatment of abnormal uterine fibroid bleeding
ESMYA
Uterine Fibroids on track 2H 2017
Approval expected 1H/2H 2018
Abicipar PROGRAMS
Two Phase 3 trials underway. Topline results 2H 2018
AMD
Cenicriviroc
NASH Phase 3 initiated. Phase 2 CENTAUR year 2 data on track for 2H 2017
* Two pivotal studies, UBR-MD-01/02: N=1,650 patients per study, randomized (1:1:1) to 3 treatment groups. 01: placebo, 50mg, 100mg; 02: placebo, 25mg, 50mg.
Long-term safety study, UBR-MD-04: N=1,250 patients, extension study for patients in 01/02 pivotals. 17
Additional N=400 patient study randomized (1:1), placebo: 100mg, treated for two months with at least 15 treatments per month.
TESSA
HILADO
Chief Financial Officer
Q2 2017 FINANCIAL PERFORMANCE
$ millions, except per Strong revenue growth of 9%1 versus prior year
share amount Q2 2017 Q2 2016 Y/Y
(Non GAAP)* Growth mainly driven by the addition of Regenerative Medicine products and Coolsculpting and continued
Net Revenue 4,007 3,685 8.8% double-digit growth of key brands and new product launches
Gross Margin % 87.3% 88.0% -0.7% Offset by Asacol HD and Minastrin loss of exclusivity, continued decline in Namenda XR and declines in
Restasis and Aczone
R&D Expense 394 345 14.2%
% of Revenue 9.8% 9.4% 0.4% Margins remained strong
S&M 886 829 6.9% Maintained strong gross margin; negative impact from product mix offset by royalty buy-outs and a
G&A 331 210 57.1% reimbursement of $15M for costs previously expensed through cost of sales
SG&A 1,217 1,039 17.1% Operating spend managed tightly despite FX headwinds:
% of Revenue 30.4% 28.2% 2.2%
> Additional expenses for Regenerative Medicine products and Coolsculpting and promotional spend on key brands
offset by lower selling costs in General Medicines segment
1,887 1,858 1.6%
Operating Income
> Higher G&A mainly due to unfavorable transactional Fx impact year over year. Excluding this impact, G&A increased
Op. Margin % 47.1% 50.4% -3.3% ~2%
Net Interest
(237) (354) -33.0%
(Expense) /Other Lower net interest expense versus prior year mainly attributed to debt reduction and Teva dividend
Performance Net
$4.02 $3.35 20.0% Paid down net debt of $9.4B since Q2 2016
Income per Share
Tax Rate 13.1% 7.1% 6.0% Strong cash flow from operations of $1.63B
Cash Flow From
1,629 1,380 18.1% ~$1.60B adjusted cash flow excluding R&D asset acquisitions, restructuring charges and other one-time
Ops payments and receipts
* All metrics are as a % of Net Revenues. Please refer to the GAAP to non-GAAP tables in the appendix for a reconciliation of our non-GAAP results.
1. 8.7% excluding Fx, Namenda IR, and including ($24) M of revenues in Q2 2016 related to the portion of Allergan product revenues
sold by our former Anda Distribution Business which is reported in discontinued operations. 19
Q2 2017 PERFORMANCE BY SEGMENT
1,715
($M) 1,489 1,449 1,428
15.2%
-1.5%
(Ex Fx)
16.2%
757
13.4% 859
(10) 6
US Specialized Therapeutics revenues grew 15% driven by new acquisitions and growth in key brands offset by reductions
in Restasis and Aczone
Contribution margin decline attributed to lower margins from LifeCell and Zeltiq acquisitions, as well as increase in promotional spending on key brands and new
products Rhofade and Xen
US General Medicine revenues decline due to Asacol HD and Minastrin loss of exclusivity, coupled with Namenda XR decline
offset by strong growth in Vraylar, Linzess and Lo Loestrin
Contribution margin improvement versus prior year due to royalty buy back and lower promotional and selling expenses
International segment continues to experience double digit revenue growth and improving contribution margin
Contribution margin improved due to sales growth coupled with favorable mix
20
Revenue growth and contribution margins refer to non-GAAP
CAPITALIZATION AS OF JUNE 30TH 2017
1. Includes Teva shares of ~$3.3B. Teva holdings lock-up expiration August 3rd
2. Includes $30.3B in Senior Notes
3. Cash paid for deals in Q2 2017 was ~$2.4B
EBITDA refers to non-GAAP
21
2017 GUIDANCE UPDATE
In millions, except for share amounts
Previous Guidance Revised Guidance Assumptions
Non-GAAP Gross Margin 86.0% 87.0% 86.5% 87.0% Reflects 1H better than expected gross margin
No change
Non-GAAP Average Share Count ~356M ~356M
Subject to ASR settlement in Q3
24
CONTINUE TO ADVANCE THE PIPELINE
2017 AND KEY 2018 HIGHLIGHTS
THERAPEUTIC AREAS APPROVALS SUBMISSIONS DEVELOPMENT MILESTONES
MEDICAL
AESTHETICS/ Rhofade
Sarecycline
Acne 2H
Volbella lips
Japan Volift
Japan RORyt agonist
Psoriasis Sarecycline
Ph 3 topline 1H
Rosacea Entry Ph 2b 2H
DERMATOLOGY Botox CFL Sarecycline
China 2H Acne 2H
Linzess CVC
Ph 3 Initiated
Linzess Delayed Release
IBS-C Entry Phase 3 2H
GI 72mcg
CVC + LJN452 Relamorelin
Entry Ph 2b 1H Start Ph 3 2H
WH
ESMYA
Uterine fibroids
1H/2H
ESMYA
Uterine fibroids
2H
ESMYA
2nd Ph 3 topline results
Vraylar
Saphris
Bipolar
Vraylar Vraylar
Muscarinic Receptor M1
and M4 Agonist
Ph 1 2H ; Entry Ph 1 2H
Rapastinel
Ph 2 Suicidality
Study Initiation
Ubrogepant
Topline Ph 3
1H
Schizophrenia Depression Negative Schizophrenia
CNS respectively 2H
Maintenance
2H
maintenance &
launch effective
dose
Symptoms
2H
Maintenance
Botox MDD
Ph 2 Results
Atogepant
Topline Ph
2b 1H
Cariprazine
Bipolar Dep
Ph 3 Results 2H
URO, AI,
OTHER
Avycaz
cUTI with
Ph3 US
Avycaz
HABP/VABP
US
Avycaz
HABP/VABP US
1H
Table 1: Allergan plcs statement of operations for the three and six months ended June 30, 2017 and 2016
Table 2: Allergan plc's product revenue for the three and six months ended June 30, 2017 and 2016
Table 3: Allergan plcs Condensed Consolidated Balance Sheets as of June 30, 2017 and December 31, 2016
Table 4: Allergan plcs Condensed Consolidated Statements of Cash Flows for the three and six months ended June 30, 2017 and
2016
Table 5: GAAP to non-GAAP reconciliation for the three and six months ended June 30, 2017 and 2016
Table 6: Reconciliation of reported net (loss) from continuing operations attributable to shareholders
and diluted earnings per share to non-GAAP performance net income and performance net income per share for the three
and six months ended June 30, 2017 and 2016
Table 7: Reconciliation of reported net (loss) from continuing operations attributable to shareholders for the three and six months
ended June 30, 2017 and 2016 to adjusted EBITDA and adjusted operating income
Table 8: Net Revenues and contribution margin for US Specialized Therapeutics Segment, US General Medicine Segment,
International Segment and Corporate for the three and six months ended June 30, 2017 and 2016
Table 9: Net Revenues for US Specialized Therapeutics Segment for the three and six months ended June 30, 2017 and 2016
Table 10: Net Revenues for US General Medicine Segment for the three and six months ended June 30, 2017 and 2016
Table 11: Net Revenues for International Segment for the three and six months ended June 30, 2017 and 2016
Table 12: GAAP to non-GAAP reconciliation of FY 2017 performance net income attributable to shareholders
26
TABLE 1:ALLERGAN PLCS STATEMENT OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED
JUNE 30, 2017 AND 2016
The following presents Allergan plcs statement of operations for the three and six months ended June 30, 2017 and
2016:
Table 1
ALLERGAN PLC
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited; in millions, except per share amounts)
Operating expenses:
Cost of sales (excludes amortization and impairment of
acquired intangibles including product rights) 550.2 441.5 1,000.6 918.9
Research and development 489.4 636.5 1,249.3 1,039.6
Selling, general and administrative 1,395.0 1,210.0 2,580.2 2,306.3
Amortization 1,757.9 1,633.1 3,493.9 3,222.8
In-process research and development impairments 703.3 268.9 1,043.3 274.9
Asset sales and impairments, net 14.0 (17.6 ) 21.4 (19.3 )
Total operating expenses 4,909.8 4,172.4 9,388.7 7,743.2
Operating (loss) (902.4 ) (487.6 ) (1,808.4 ) (659.1 )
28
TABLE 2 (CONTD): ALLERGAN PLC'S PRODUCT REVENUE FOR THE THREE AND SIX MONTHS
ENDED JUNE 30, 2017 AND 2016
29
TABLE 3: ALLERGAN PLCS CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2017
AND DECEMBER 31, 2016
The following table presents Allergan plcs Condensed Consolidated Balance Sheets as of June 30,
2017 and December 31, 2016.
Table 3
ALLERGAN PLC
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited; in millions)
June 30, December 31,
2017 2016
Assets
Cash and cash equivalents $ 886.9 $ 1,724.0
Marketable securities 4,939.0 11,501.5
Accounts receivable, net 2,795.9 2,531.0
Inventories 935.9 718.0
Other current assets 875.5 1,383.4
Assets held for sale 11.1 27.0
Property, plant and equipment, net 1,750.1 1,611.3
Investments and other assets 578.5 515.4
Product rights and other intangibles, net 62,369.7 62,618.6
Goodwill 49,592.2 46,356.1
Total assets $ 124,734.8 $ 128,986.3
30
TABLE 4: ALLERGAN PLCS CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE
THREE AND SIX MONTHS ENDED JUNE 30, 2017 AND 2016
The following table presents Allergan plcs Condensed Consolidated Statements of Cash Flows for the three and six
months ended June 30, 2017 and 2016.
Table 4
ALLERGAN PLC
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited; in millions)
Three Months Ended June 30, Six Months Ended June 30,
2017 2016 2017 2016
Cash Flows From Operating Activities:
Net (loss) $ (723.9 ) $ (499.9 ) $ (3,288.1 ) $ (243.5 )
Reconciliation to net cash provided by operating activities:
Depreciation 39.6 34.8 81.2 76.9
Amortization 1,757.9 1,635.5 3,493.9 3,227.6
Provision for inventory reserve 24.8 57.7 48.7 116.9
Share-based compensation 85.8 89.8 148.5 188.8
Deferred income tax benefit (766.0 ) 192.1 (1,478.8 ) (327.1 )
In-process research and development impairments 703.3 268.9 1,043.3 274.9
Loss on asset sales and impairments, net 14.0 (17.6 ) 21.4 (19.3 )
Net income impact of other-than-temporary loss
on investment in Teva securities - - 1,978.0 -
Amortization of inventory step up 59.9 - 87.8 42.4
Non-cash extinguishment of debt (8.2 ) - (8.2 ) -
Amortization of deferred financing costs 6.5 11.0 13.2 21.0
Contingent consideration adjustments,
including accretion (15.5 ) 27.2 15.2 60.8
Other, net (3.8 ) (17.3 ) (22.6 ) (26.4 )
Changes in assets and liabilities (net of effects
of acquisitions):
Decrease / (increase) in accounts receivable, net (192.2 ) (352.6 ) (139.0 ) (501.2 )
Decrease / (increase) in inventories (44.6 ) (34.7 ) (95.1 ) (183.2 )
Decrease / (increase) in prepaid expenses
and other current assets 8.0 231.0 10.5 245.4
Increase / (decrease) in accounts payable
and accrued expenses 156.2 392.7 (207.5 ) 424.0
Increase / (decrease) in income and other
taxes payable 549.9 (425.4 ) 673.7 (477.6 )
Increase / (decrease) in other assets and liabilities (22.4 ) (213.4 ) (23.5 ) (267.5 )
Net cash provided by operating activities 1,629.3 1,379.8 2,352.6 2,632.9
Cash Flows From Investing Activities:
Additions to property, plant and equipment (104.0 ) (97.9 ) (137.2 ) (182.8 )
Additions to product rights and other intangibles (240.0 ) - (586.3 ) -
Additions to investments (400.0 ) - (6,787.9 ) -
Proceeds from sale of investments and other assets 3,542.2 6.5 13,197.5 25.5
Proceeds from sales of property, plant and equipment 3.6 2.4 4.3 14.5
Acquisitions of businesses, net of cash acquired (2,416.0 ) - (5,290.4 ) -
Net cash provided by / (used in)
investing activities 385.8 (89.0 ) 400.0 (142.8 )
Cash Flows From Financing Activities:
Proceeds from borrowings on long-term indebtedness, including
credit facility 3,023.0 - 3,023.0 900.0
Debt issuance and other financing costs (17.5 ) - (17.5 ) -
Payments on debt, including capital lease obligations (4,563.3 ) (2,981.4 ) (5,579.2 ) (3,835.6 )
Proceeds from stock plans 72.1 37.7 124.7 107.3
Payments of contingent consideration and other financing (428.8 ) (31.5 ) (505.1 ) (63.8 )
Repurchase of ordinary shares (5.7 ) (14.1 ) (35.2 ) (67.3 )
Dividends (306.1 ) (69.6 ) (611.9 ) (139.2 )
Net cash (used in) financing activities (2,226.3 ) (3,058.9 ) (3,601.2 ) (3,098.6 )
Effect of currency exchange rate changes on cash
and cash equivalents 5.2 (3.2 ) 11.5 2.0
Net (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
(206.0 )
1,092.9
(1,771.3 )
2,260.8
(837.1 )
1,724.0
(606.5 )
1,096.0
31
Cash and cash equivalents at end of period $ 886.9 $ 489.5 $ 886.9 $ 489.5
TABLE 5: GAAP TO NON-GAAP RECONCILIATION FOR THE THREE AND SIX MONTHS ENDED
JUNE 30, 2017 AND 2016
32
TABLE 5 (CONTD): GAAP TO NON-GAAP RECONCILIATION FOR THE THREE AND SIX MONTHS
ENDED JUNE 30, 2017 AND 2016
33
TABLE 5 (CONTD): GAAP TO NON-GAAP RECONCILIATION FOR THE THREE AND SIX MONTHS
ENDED JUNE 30, 2017 AND 2016
34
TABLE 5 (CONTD): GAAP TO NON-GAAP RECONCILIATION FOR THE THREE AND SIX MONTHS
ENDED JUNE 30, 2017 AND 2016
35
TABLE 6: RECONCILIATION OF REPORTED NET (LOSS) FROM CONTINUING OPERATIONS
ATTRIBUTABLE TO SHAREHOLDERS AND DILUTED EARNINGS PER SHARE TO NON-GAAP
PERFORMANCE NET INCOME AND PERFORMANCE NET INCOME PER SHARE FOR THE THREE AND
SIX MONTHS ENDED JUNE 30, 2017 AND 2016
The following table presents a reconciliation of Allergan plc's reported net (loss) from continuing
operations attributable to shareholders and diluted earnings per share to non-GAAP performance net
income and non-GAAP performance net income per share for the three and six months ended June 30,
2017 and 2016:
Table 6
ALLERGAN PLC
RECONCILIATION TABLE
(Unaudited; in millions except per share amounts)
Basic weighted average ordinary shares outstanding 335.2 395.6 335.2 395.2
Effect of dilutive securities:
Dilutive shares 21.5 21.8 21.8 22.3
Diluted weighted average ordinary shares outstanding 356.7 417.4 357.0 417.5
(1) Includes stock-based compensation due to the Zeltiq, Allergan and Forest acquisitions as well as the 36
valuation accounting impact in interest expense, net.
TABLE 7: RECONCILIATION OF REPORTED NET (LOSS) FROM CONTINUING OPERATIONS
ATTRIBUTABLE TO SHAREHOLDERS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2017 AND
2016 TO ADJUSTED EBITDA AND ADJUSTED OPERATING INCOME
We define adjusted EBITDA as an amount equal to consolidated net income / (loss) from continuing
operations attributable to shareholders for such period adjusted for the following: (i) interest expense, (ii)
interest income, (iii) (benefit) for income taxes, (iv) depreciation and amortization expenses, (v) stock-
based compensation expense, (vi) asset impairment charges and losses / (gains) and expenses
associated with the sale of assets, including the exclusion of discontinued operations, (vii) business
restructuring charges associated with Allergans global supply chain and operational excellence
initiatives or other restructurings of a similar nature, (viii) costs and charges associated with the
acquisition of businesses and assets including, but not limited to, milestone payments, integration
charges, other charges associated with the revaluation of assets or liabilities and charges associated
with the revaluation of acquisition related contingent liabilities that are based in whole or in part on future
estimated cash flows, (ix) litigation charges and settlements and (x) other unusual charges or expenses.
We define non-GAAP adjusted operating income as adjusted EBITDA including depreciation and certain
stock-based compensation charges and excluding dividend income.
The following table presents a reconciliation of Allergan plc's reported net (loss) from continuing
operations attributable to shareholders for the three and six months ended June 30, 2017 and 2016 to
adjusted EBITDA and adjusted operating income:
Table 7
ALLERGAN PLC
ADJUSTED EBITDA and ADJUSTED OPERATING INCOME, RECONCILIATION TABLE
(Unaudited; in millions)
38
TABLE 9: NET REVENUES FOR US SPECIALIZED THERAPEUTICS SEGMENT FOR THE THREE AND SIX
MONTHS ENDED JUNE 30, 2017 AND 2016
The following table details Allergan plc's product revenue for significant promoted products within the
US Specialized Therapeutics segment for the three and six months ended June 30, 2017 and 2016.
Table 9
ALLERGAN PLC
US Specialized Therapeutics Product Revenue
(Unaudited; in millions)
(1) Includes revenues earned that were distributed through our former Anda Distribution business to third party customers. 40
TABLE 10: NET REVENUES FOR US GENERAL MEDICINE SEGMENT FOR THE THREE AND SIX
MONTHS ENDED JUNE 30, 2017 AND 2016
The following table details Allergan plc's product revenue for significant promoted products within the US General
Medicine segment for the three and six months ended June 30, 2017 and 2016.
Table 10
ALLERGAN PLC
US General Medicine Product Revenue
(Unaudited; in millions)
(1) Includes revenues earned that were distributed through our former Anda Distribution business to third party customers.
41
TABLE 10 (CONTD): NET REVENUES FOR US GENERAL MEDICINE SEGMENT FOR THE THREE AND
SIX MONTHS ENDED JUNE 30, 2017 AND 2016
Six Months Ended June 30, Change
2017 2016 (1) Dollars %
(1) Includes revenues earned that were distributed through our former Anda Distribution business to third party customers. 42
TABLE 11: NET REVENUES FOR INTERNATIONAL SEGMENT FOR THE THREE AND SIX MONTHS
ENDED JUNE 30, 2017 AND 2016
The following table details Allergan plc's product revenue for significant promoted products within the
International segment for the three and six months ended June 30, 2017 and 2016.
Table 11
ALLERGAN PLC
International Product Revenue
(Unaudited; in millions)
44
TABLE 12: GAAP TO NON-GAAP RECONCILIATION OF FY 2017 PERFORMANCE NET INCOME
ATTRIBUTABLE TO SHAREHOLDERS
The following table provides a reconciliation of anticipated GAAP loss from continuing operations to non-GAAP performance net
income attributable to shareholders for the year ending December 31, 2017:
Table 12
Diluted (loss) per share from continuing operations attributable to $ (10.37) $ (9.97)
shareholders- GAAP
Non-GAAP performance diluted net income per share attributable to $ 16.05 $ 16.45
shareholders
Basic weighted average ordinary shares outstanding 334.0 334.0
Effect of dilutive securities:
Dilutive shares 22.0 22.0
Diluted weighted average ordinary shares outstanding 356.0 356.0
45