No one expected Forest Laboratories to post quarterly sales growth. How could it? The company's flagship drug, Lexapro, lost patent protection just as last year's fiscal fourth quarter drew to a close. So, this time around, Forest's sales were destined to drop.
Most doctors aren't getting rich off speaking to other physicians about pharma products. But some are, according to a new analysis by ProPublica .
According to CenterWatch's latest Global Investigative Site Relationship survey, clinical trial sites voted Biogen Idec, Forest Laboratories and Bayer the best sponsors, giving them the best marks on 36 relationship attributes.
Forest Laboratories is in dire need of a Bloody Mary for its still-severe Lexapro hangover. The U.S.-based drugmaker fell short of low expectations for the third quarter, thanks to a 41% drop in sales, largely because of generic competition for the blockbuster antidepressant. And the company ratcheted back predictions for its full-year results.
There was a glimmer of good news today for Lundbeck, which has been slashing its payroll and its earnings projections as it wrestles with the patent loss of blockbuster Lexapro.
Forest Laboratories has come up with a plan to extend its Alzheimer's franchise for Namenda past its patent expiration date. Forest inked a $160 million deal with Adamas to develop a fixed-dose combination of Namenda XR and donepezil HCl for Alzheimer's dementia. And the partners expect to launch it in 2015, with an improved dosing regimen for patients that is protected by a series of Adamas patents that stretch out to 2029.
Brazil's Moksha8 may be saying goodbye to Watson Pharmaceuticals ($WPI) as a minority owner. But it's saying hello to new business from the U.S. generics company--and a brand new partnership with Forest Laboratories. The latter not only wins Moksha8 up to $125 million in financing over the next two years; it also gives Forest the option to buy the Brazilian firm in 2014.
We're wondering whether Forest Laboratories shareholders wish they could recast their proxy votes. The company's third-quarter sales tanked because of Lexapro's cut-rate generic competition, and it cut its outlook, both for revenue and earnings.
Analysts have blazed a trail for AstraZeneca ($AZN). Destination: Forest Laboratories. As the Financial Times reports, at least three investment firms have advocated an AstraZeneca-Forest deal. The question is whether incoming CEO Pascal Soriot should follow their path.
The FDA has given its approval to linaclotide, a new drug for irritable bowel syndrome with constipation, which some some analysts say could run up to $2 billion in sales a year.