Actavis adjusted profit beats estimates

Wed Feb 18, 2015 6:49am EST
 
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Feb 18 (Reuters) - Drugmaker Actavis Plc posted a better-than-expected adjusted quarterly profit, helped by higher sales of its branded drugs in North America.

The company's net loss widened to $732.9 million, or $2.76 per share, in the fourth quarter ended Dec. 31 from $148.4 million, or 86 cents per share, a year earlier.

However, on an adjusted basis the company earned $3.91 per share. Analysts on average had expected $3.67, according to Thomson Reuters I/B/E/S.

Net revenue rose 46 percent to $4.06 billion. Total North American brands revenue nearly tripled to $1.83 billion. (Reporting by Vidya L Nathan in Bengaluru; Editing by Saumyadeb Chakrabarty)