Forest says Bystolic exceeded 2008 predictions
22 April 2009 00:00 in Pharmaceutical Company Financials
Forest's Bystolic sold better last year than the company expected, it has stated.
In its first year on the market, the hypertension treatment achieved $69.2 million (47.2 million pounds), which the company's chairman and chief executive officer Howard Solomon asserted was a stronger result than forecast.
He added 2008 had seen the approval of Savella for the management of fibromyalgia and Lexapro had also been permitted to help adolescents with major depressive disorder.
Looking ahead to next year, Mr Solomon asserted the firm would continue to develop its pipeline with six products currently in phase III clinical trials.
The business has access to many new compounds, which have been discovered and developed by other companies, he said.
"Forest is viewed as a highly desirable development and marketing partner, often precisely because of our size and past performance."
Mr Solomon concluded the company would be able to deliver sales and earnings in 2010 if it continued to support its current marketed products and further developed its efforts to find additional compounds.
This week, Forest and Cypress Bioscience announced Savella would be available in pharmacies from April 28th.
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