Forest Laboratories reported net sales of $606 million for its first quarter of 2004 - FRX - Brief Article

Drug Cost Management Report, July 25, 2003

* Forest Laboratories (FRX) reported net sales of $606 million for its first quarter of 2004, an increase of 30% over the same quarter in the previous year. The company's leading antidepressant, Celexa, brought in $285 million for the quarter. Its new selective serotonin reuptake inhibitor (SSRI), Lexapro, which is an isomer of Celexa, raked in $191 million for the quarter.

Lexapro beat out Celexa in the share of new prescriptions. According to statements by Kenneth Goodman, Forest Labs' chief operating officer, many of its managed care rebate agreements for Celexa are expiring at the end of the year, and there will be a strong push to convert patients to Lexapro, which is the newer drug. Celexa is slated for generic availability in early 2004. The company's new Alzheimer's drug, Memantine, will be reviewed during an FDA meeting Sept. 24-25, 2003. If all goes well, Memantine will be launched during the first half of 2004.