DUBLIN, Ireland—Actavis plc (NYSE: ACT) reported a 59 percent leap in net revenues of $4.23 billion for the quarter ended March 31, compared to $2.66 billion in the first quarter 2014, which included $258 million in revenue from Allergan, as of the close of that acquisition of March 17, 2015. For the first quarter 2015, adjusted EBITDA increased 107 percent to $1.78 billion, compared to $860 million for the first quarter 2014.

"Actavis achieved exceptional operational performance while simultaneously focusing on the completion of the Allergan acquisition and accelerating the integration of our combined company to create a Growth Pharma leader," said Brent Saunders, CEO and president of Actavis. "I am proud of our combined team for maintaining their focus on our customers and delivering tremendous operational results."

Saunders cited the strong Q1 performance of such drugs as Namenda XR, Linzess, Bystolic and others along with the company’s generics business, including generics of Concerta, Intuniv and the recent launch of a generic version of OxyContin.

He added, "In the midst of planning for the integration, legacy Allergan delivered pro forma net sales growth of 13 percent on constant currency to approximately $1.75 billion in its final full quarter, driven by continued strong performance across the company's Eye Care, Botox and Aesthetics businesses."

Saunders also said, "We have already achieved many of our early integration milestones, including realignment of our global sales organization and notifying 95 percent of our colleagues about their role in the combined company. We are on track to achieve approximately 80 percent of the forecasted $1.8 billion in synergies by the end of the first quarter of 2016. We are right on track to deliver on our rapid and thoughtful integration plans while driving double-digit sales growth and investment in key late-stage R&D programs."

In March 2015, Actavis plc completed the acquisition of Allergan, Inc. (NYSE: AGN) in a cash and equity transaction valued at approximately $70.5 billion. The combination created one of the world's top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion anticipated in 2015.

At the time of the closing, Actavis CEO Saunders said, “The combination of Actavis and Allergan creates an exceptional global pharmaceutical company and a leader in a new industry model—Growth Pharma. Anchored by world-renowned brand franchises, a leading global generics business, a premier pharmaceutical development pipeline and an experienced management team committed to maintaining highly efficient operations across the organization, we are creating an unrivaled foundation for long-term growth

"Our combined company will be built around a customer-focused commitment to partnering with physicians, pharmacists and patients to deliver innovative treatments and enhance access to important therapies around the world. We have industry-leading global commercial strength, with sustainable blockbuster brand franchises in key therapeutic categories and broad commercial reach extending across approximately 100 countries.

"Supporting the growth of this innovative industry model is our strategically focused R&D engine,” he said, “built on novel compounds in specialty and primary care markets where there is significant unmet medical need, and fueled by approximately $1.7 billion in annual investment. With an innovative product development portfolio exceeding 20 near-term projects and a world-class generics pipeline, which continues to hold an industry-leading position in First-to-File opportunities in the U.S. and more than 1,000 marketing authorizations globally, we are uniquely positioned within our industry to ensure our development activities support sustainable long-term organic growth.”

As reported Actavis intends to adopt a new global name—Allergan—pending shareholder approval later in 2015.