Allergan reports 48 percent rise in quarterly revenue

[May 10, 2016]  (Reuters) - Allergan Plc <AGN.N>, whose $160 billion merger with Pfizer Inc fell apart last month, reported a 48 percent rise in quarterly revenue, led by a strong performance by its branded drugs business, which includes Botox and the eye drug Restasis.

The company reported net income attributable to ordinary shareholders of $186.1 million, or 47 cents per share, for the first-quarter ended March 31, compared with a loss of $535.2 million, or $1.85 per share, a year earlier.

Revenue rose to $3.80 billion from $2.56 billion.

Allergan said its board had authorized a new share repurchase program of up to $10 billion.

(Reporting by Amrutha Penumudi in Bengaluru; Editing by Ted Kerr)

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