Forest Laboratories sees improved sales in second quarter
21 July 2010 00:00 in Pharmaceutical Company Financials
Forest Laboratories has seen a year-on-year growth in sales during the second quarter of 2010 thanks to the strong performance of several key products.
According to data from the firm's latest financial report, net sales grew by 7.6 per cent from Q2 2009 to reach $1.02 billion (667.9 million pounds), with products such as Namenda and Bystolic seeing double-digit growth.
The firm also highlighted improving sales of its newest drug, the fibromyalgia treatment Savella, which was launched in April 2009.
Howard Solomon, chairman and chief executive officer of Forest, also hailed the advancement of several compounds to phase II and III testing in the last quarter, in addition to its collaboration with TransTech Pharma on a new diabetes drug.
He said: "The TransTech programme may offer a unique new therapeutic option for the millions of patients who suffer from diabetes and we look forward to advancing it through development."
Among the treatments which Forest is currently developing are aclidinium bromide and LAS100977, two respiratory disease therapies on which it has collaborated with Almirall.
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