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Home Industry News Forest Laboratories “very pleased” with financial results

Forest Laboratories “very pleased” with financial results

27th July 2009

Forest Laboratories has announced that it is satisfied with its financial results for the first quarter of its 2010 fiscal year.

Howard Solomon, chairman and chief executive of the firm, made the comments as the firm announced that earnings per share for the period were 87 cents (52p).

Reported earnings per share in the corresponding period in the 2009 fiscal year were 79 cents.

Mr Solomon said: “We are very pleased with the solid financial results that the company reported for the quarter and with the excellent performance of our newest products Bystolic and Savella.”

Savella was granted approval from the Food and Drug Administration for the treatment of fibromyalgia on January 14th.

He noted that Forest Laboratories has also begun phase III trials of linaclotide in patients with constipation-predominant irritable bowel syndrome and that the company expects to expand and advance its pipeline over the course of the year.

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