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Home Industry News Forest Laboratories sees sales increase in third quarter of 2012

Forest Laboratories sees sales increase in third quarter of 2012

18th January 2012

Forest Laboratories has reported positive growth trends in its financial report for the third quarter of the 2012 fiscal year, ending on December 31st 2011.

Net sales for the period advanced by 9.2 percent year over year to $1.2 billion (780.1 million pounds), with improved demand for drugs such as Bystolic, Savella and Namenda observed.

The company was also able to successfully launch products such as Teflaro, Daliresp and Viibryd in the last year, while making progress in the clinical development and regulatory processing of several therapies.

For example, the irritable bowel syndrome therapy linaclotide- developed alongside Ironwood Pharmaceuticals – was recently submitted for US approval based on positive data from phase III trials.

Howard Solomon, chairman and chief executive officer of Forest, expressed confidence that the firm will continue to achieve significant annual sales growth once the impact of Lexapro's patent expiration passes.

"We believe that achieving such a rich repertory of products validates our business plan. Of course it will take significant effort and expense, most noticeable in the earliest years, to accomplish our goal," he said.ADNFCR-8000103-ID-801267669-ADNFCR

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