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Home Industry News Forest Laboratories reports positive growth in Q1 2014

Forest Laboratories reports positive growth in Q1 2014

29th July 2013

Forest Laboratories has announced its financial results for the first quarter of its 2014 business year, during which it generated a net sales total of $796.9 million (517.63 million pounds).

This represented a year-on-year increase of six percent, a rise that was driven by improved sales of the company's next generation products, which surged by 47.8 percent compared to the corresponding period last year.

Revenues for products such as Namenda, Viibryd, Daliresp, Tudorza, Bystolic, Linzess and Teflaro all increased, thus helping to balance out the decline in demand for Lexapro, patent protection for which expired in March 2012.

Forest also made progress with the clinical development of several new drugs, including levomilnacipran and cariprazine, which will help to support further business success in future.

Howard Solomon, chairman and chief executive officer of Forest, said: "We believe that we will continue to generate significant levels of sales and earnings to secure long-term growth for our company."

It was announced earlier this year that Mr Solomon will retire at the end of 2013, having acted as its chief executive since 1977.ADNFCR-8000103-ID-801617727-ADNFCR

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