Forest Laboratories reports revenue growth in last fiscal year

Forest Laboratories has published its financial results for the fiscal year ending March 31st 2010, during which the company experienced an increase in revenue of 6.9 per cent.

The pharmaceutical company’s revenue figure for the 12-month period came to $4.2 billion (2.7 billion pounds), compared to $3.9 billion in the preceding 2008-09 fiscal year.

Its Namenda drug was among the products which saw improved performance in 2009-10, with sales rising by 17.4 per cent year-on-year, while sales of Bystolic and Savella reached $178.9 million and $52.7 million respectively.

The company has now forecast that all three of these treatments will continue to see growing sales in the coming year, while revenue is expected to increase by five per cent.

Howard Solomon, chairman and chief executive officer of Forest, said: “Fiscal year 2010 was another strong year for the company as we reported solid financial performance and made significant progress in advancing and expanding our new product development pipeline.”

Earlier this year, the company published positive phase III trial data for the chronic obstructive pulmonary disease treatment aclidinium bromide, which it is developing in conjunction with Almirall.