You might think that nothing has gone right for Allergan plc (AGN) this year. Its share price has declined over 30% since January, as the potential acquisition by Pfizer fell apart.

However, Allergan actually has seen some positive developments in 2016. The drugmaker announced its third-quarter results before the market opened on Wednesday. Were there more positives -- or negatives -- in Allergan's announcement? Here are three things you really need to know.

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1. Slow revenue growth

Allergan reported revenue in the third quarter of $3.6 billion, up 4.4% from the prior-year period. The company faces several ongoing challenges. Sales for anti-inflammatory drug Asacol plunged due to the entrance of a new generic rival. Sales for Namenda, which targets treatment of dementia, slumped for a couple of reasons: lower demand and lower average selling prices that Allergan had to offer to keep the drug on payer formularies.

Established branded products also performed poorly overall, with net revenue falling 20% from the third quarter of 2015. One key factor behind this decline, though, stemmed from Allergan's divestiture of Cervidil, a drug that helps induce labor in pregnant women, as part of the sale of its generics and Anda distribution business units to Teva Pharmaceuticals (TEVA 0.96%). Another issue for Allergan's established branded products was the loss of patent exclusivity for bladder-relaxant Enablex.

Despite these challenges, Allergan still grew total revenue thanks largely to solid growth from three of its top-selling products. Global sales for Botox increased 14% from the prior year period, to $689.7 million. Chronic dry-eye drug Restasis saw sales climb 13% year over year, to $371.8 million. Sales for Allergan's dermal fillers jumped 20%, to $201.8 million.

2. Disappointing bottom line

The big Teva transactions boosted Allergan's net income for the third quarter, to nearly $15.2 billion. However, when only continuing operations are factored in, Allergan's bottom line didn't look so great. The company reported an operating loss from continuing operations in the third quarter of $266 million, or $1.15 per share.

On an adjusted non-GAAP basis, Allergan posted earnings of $1.78 billion, or $3.32 per diluted share. That was well below the consensus Wall Street estimate of $3.58 per share. It also reflected a decrease from the non-GAAP earnings of $1.9 billion, or $3.41 per diluted share, reported in the third quarter of 2015.

Sluggish revenue growth was part of the problem. Allergan also spent more. Research and development costs increased as did selling and market costs.

3. Goodies on the way for shareholders

Allergan's big announcement was the introduction of a dividend that will begin in 2017. The company set the dividend at $0.70 per share. Allergan's board of directors also authorized an accelerated share-repurchase program to buy up to $10 billion of stock.

These goodies are on the way, but they weren't enough to make investors happy about Allergan's earnings miss. The stock fell around 2% in early trading on Wednesday.

Of course, Allergan probably needed to do something with its cash stockpile instead of just sit on it. The company's cash and marketable securities totaled $27.4 billion at the end of September. This total was bolstered by the closing of the sale of Allergan's generics business to Teva in early August. 

Looking ahead

Allergan now expects full-year 2016 revenue to come in between $14.45 billion and $14.65 billion. The company also projects non-GAAP earnings per share for the year between $13.30 and $13.50. Both estimates are less than what Wall Street expected. 

Recent acquisitions could position Allergan well for the long term. Allergan announced six of what it called "stepping stone acquisitions" in the the third quarter. Two of those deals enabled the company to expand into the potentially lucrative nonalcoholic steatohepatitis (NASH) market.

While Allergan's stock performance looks like little has gone right, the company has made several good moves in my view -- especially with the sale to Teva and the recent acquisitions. The year 2017 could be a better one.