For the full year 2012, Anda Distribution segment net revenues increased 27 percent to $986.4 million, compared to $776.2 million in 2011. This increase was primarily due to new product launches.
Other Operating ExpensesConsolidated GAAP general and administrative expenses were $228.6 million in the fourth quarter 2012, an increase of $125.4 million from the fourth quarter 2011 due to the inclusion of legacy Actavis including certain acquisition, integration and restructuring charges. The current year period was also impacted by charges associated with a product liability settlement.
Amortization expense for the fourth quarter 2012 was $148.2 million, compared to $151.3 million in fourth quarter 2011.
For the full year 2012, consolidated GAAP general and administrative expenses were $624.9 million, compared to $353.1 million in the prior year period, an increase of $271.8 million. The increase was due to the acquisition of Ascent and the Actavis Group in January 2012 and November 2012, respectively, including costs associated with the acquisition and integration of these businesses. Litigation settlements also contributed to the year over year increase.
Amortization expense for the full year 2012 was $481.1 million, compared to $354.3 million in full year 2011, primarily due to atorvastatin and levalbuterol product rights, and amortization of product rights and other intangible assets acquired in the Actavis Group, Specifar, and Ascent acquisitions.
2013 Financial Outlook Actavis' estimates are based on actual results for 2012 and management's current belief about prescription trends, pricing levels, inventory levels and the anticipated timing of future product launches and events.
Actavis estimates total net revenue for 2013 of approximately $8.1 billion.
|SOURCE Actavis, Inc.|
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