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Forest Laboratories, Inc. Reports Fiscal Second Quarter 2009 Earnings per Share of $0.80
Date:10/21/2008

NEW YORK, Oct. 21 /PRNewswire-FirstCall/ -- Forest Laboratories, Inc. (NYSE: FRX), an international pharmaceutical manufacturer and marketer, today announced that fully diluted earnings per share equaled $0.80 in the second quarter of fiscal 2009. Reported earnings per share in the September 2007 quarter were $0.71.

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Revenues for the quarter increased 8.0% to $992,506,000 from $918,960,000 in the year-ago period. Revenues were comprised of net sales, which increased 9.9% to $925,570,000 from $842,337,000 in the prior year. Sales in the quarter included $583,896,000 for Lexapro(R) (escitalopram oxalate), our SSRI for the treatment of depression and anxiety in adults, an increase of 4.4% from last year. Namenda(R), our NMDA receptor antagonist for the treatment of moderate and severe Alzheimer's disease, recorded sales of $246,061,000 during the quarter, growth of 27.6% from last year. The Company's newest product, BystolicTM (nebivilol) a novel beta-blocker for the treatment of hypertension, which was launched in late January 2008, had sales of $14,163,000. Also included in revenues was other income of $66,936,000 which includes contract revenue of $45,369,000 from Benicar(R) (olmesartan medoxomil) a decline of 8.5% compared to last year. Per the agreement with Daiichi Sankyo, active co-promotion of the product ended last quarter and the Company now receives a residual royalty. The remaining component of other income was principally interest income, which totaled $19,194,000.

Net income in the current quarter was $244,086,000, an increase of 8.4% from $225,244,000 in the sec
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SOURCE Forest Laboratories, Inc.
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