How Allergan plc Lost $4 Billion in Q3 and Still Performed Quite Well
Allergan (NYSE: AGN) experienced a miserable third quarter -- even before any financial results from the quarter were known. The pharma stock fell nearly 16% during the quarter, after rising by the same amount thus far in 2017 up to that point. Allergan's woes continued in October.
The dismal stock performance stemmed in large part from concerns about eye drug Restasis. Sales for the drug slipped in the second quarter, but even worse, a federal district court ruled that Allergan's patents for Restasis were invalid.
But while Allergan stock fared poorly during the third quarter, the company's business actually performed quite well. Allergan announced its third-quarter results prior to the market open on Wednesday. Here are the highlights.
Source: Fool.com
