Forest Laboratories Inc. (NYSE: FRX) is scheduled to release fiscal third-quarter earnings before the opening bell on Tuesday, January 18, 2011. Analysts, on average, expect the company to report earnings of 99 cents per share on revenue of $1.10 billion. In the year-ago period, the company reported earnings of 97 cents per share on revenue of $1.06 billion.
Forest Laboratories, Inc. develops, manufactures, and sells branded and generic forms of ethical drug products. The Company’s United States products are marketed directly, or detailed, to physicians by its salesforces. Its principal products include Lexapro to treat depression; Namenda to treat Alzheimer's disease; Bystolic, beta-blocker to treat hypertension; and Savella for the treatment of fibromyalgia.
Forest Laboratories is trying hard to come up with new drugs that can help replace lost revenue when its antidepressant drug Lexapro goes off patent in March 2012. The drug generated $2.3 billion in revenue last year. Similarly, the company's Alzheimer's drug Namenda faces patent expiration in April 2015. According to IMS Health, Namenda had U.S. sales of $1.2 billion for the twelve months ended March 31, 2010.Late in October, the company said that U.S. Food and Drug Administration approved Teflaro for the treatment of community-acquired bacterial pneumonia. Forest expects Teflaro to be available to wholesalers by January 2011. Early in November, Forest Laboratories and Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) reported positive top-line results from a late-stage clinical trial assessing the efficacy and safety of investigational drug linaclotide in patients with irritable bowel syndrome with constipation. The companies expect to submit an NDA with the FDA for both the IBS-C and CC indications in the third quarter of calendar year 2011Last month, Forest Laboratories Ireland Limited, a wholly owned subsidiary of Forest Laboratories, Inc. and Gruenenthal entered into a license agreement for the co-development and commercialization of a novel oral small molecule analgesic, GRT 6005, and its follow-on compound GRT 6006. Both compounds were discovered and developed by Gruenenthal and represent novel first in class molecules with unique pharmacological and pharmacokinetic profiles that may enhance their effect in certain pain conditions. Early in January, Forest Laboratories and Almirall S.A. said that their lung disease drug aclidinium met its primary endpoints in a late stage clinical trial. Regulatory submissions in Europe and the US for aclidinium bromide monotherapy are both planned for mid 2011. Forest Laboratories has licensed US rights for aclidinium from Almirall, while Almirall maintains rights for the rest of the world. The companies are jointly involved in the development of the compound.
Among other developments, Forest Laboratories entered into a definitive collaboration and distribution agreement for Bystolic and Savella in Canada with Janssen Pharmaceutica NV and Janssen pharmaceutical respectively, on behalf of Janssen Inc., which will market the products in Canada.
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