Pharmaceuticals name Allergan reported sharp losses today after it reported billions of dollars in impairment charges.
The company registered impairment charges of $4.1bn, mainly related to its Restasis drug.
There was also a $1.3bn write-down on the value of its stake in struggling drugs company Teva.
Allergan reported a third-quarter GAAP operating loss from continuing operations of $4.02bn.
Nevertheless, Allergan beat third-quarter expectations driven by strength in its medical aesthetics and eye care businesses. As a result, the shares were up modestly in premarket US trading.
Third-quarter net revenues rose 11% to $4.03bn.