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European drug strategy makes Forest stand out; Revenue triples in 5 years; does firm need to turn over leaf to stay green?(News)(Forest Laboratories Inc.)
Crain's New York Business, December, 2003
Byline: samantha marshall After five years of dizzying gains, Forest Laboratories Inc. has become one of the few stars in an industry better known for incremental growth. Propelled by its ability to rapidly develop European drugs for the U.S. market, the company has posted revenue growth of 237% since 1998, when its antidepressant Celexa hit pharmacies.
Forest's new Alzheimer's drug and its next-generation antidepressant are expected to help the firm generate 30% profit gains for the next two to three years, double the recent average among Big Pharma companies. "Forest stands out because there is a dearth of high-visibility growth in the industry,'' says Ian Sanderson, a pharmaceutical analyst with SG Cowen in Manhattan. But the very focus that has...
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