Here’s what you should know.
1. Allergan’s Chief Executive Brent Saunders doesn’t believe President Donald Trump will reform any U.S. taxes in 2017. Based on that, Mr. Saunders believes Allergan will have a strong 2017.
2. Industry analysts believe that President Trump’s administration is preparing a tax reform that would put a steep tariff on foreign imports.
3. Speaker of the House Paul Ryan (R-Wis.) said House Republicans aren’t discussing possible tax reforms until the summer.
4. Despite the possible tariff, Mr. Saunders believe the reforms would actually benefit Allergan because of its large U.S. presence.
5. Mr. Saunders is committed to only raising Allergan’s prescriptions 10 percent annually, responding to President Trump’s desire to lower prescription drug prices.
6. Allergan’s fourth quarter beat analyst estimates in terms of profit and revenue. Allergan’s posted earnings of $3.90 per share ahead of consensus estimates of $3.75. It also announced $3.86 billion in revenue.
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