Forest Laboratories says earnings for the fiscal first quarter ended June 30 sank 53% to $23.3 million, due to charges and lower sales of off-patent Lexapro, while sales increased 6.0% to $796.9 million.
Lexapro (escitalopram), the antidepressant licensed from Denmark’s Lundbeck, contributed $28.2 million, down from $110.0 million in the like, year-earlier period. Patent protection for the drug expired in March 2012,
On the positive side, Namenda (memantine) for the treatment of moderate and severe Alzheimer's disease, reached $397.5 million, up 7.9%, while the antihypertensive Bystolic (nebivolol) jumped 16.8% to $126.0 million. Savella (milnacipran), a selective serotonin and norepinephrine dual reuptake inhibitor for fibromyalgia, brought in $25.0 million, down 6.0%.
Daliresp (roflumilast) for chronic obstructive pulmonary disease climbed 35.2% to $24.0 million, while $13.1 million, while the newer COPD treatment Tudorza (aclidinium bromide) launched in December last year, recorded sales of $15.9 million. Linzess (linaclotide) was also launched in December for the treatment of both irritable bowel syndrome with constipation and chronic idiopathic constipation and recorded sales of $28.8 million. Viibryd (vilazodone) for major depressive disorder almost doubled to $46.1 million, while sales of the antibiotic Teflaro (ceftaroline fosamil), soared 51.8% to $14.2 million.
Chief executive Harold Solomon said Forest was particularly pleased with the significant percentage increases in sales "of almost all of our new products and with the initial response to Linzess and Tudorza". He added that collectively, next-generation treatments had sales of $294.1 million in the quarter, representing 47.8% growth.
Mr Solomon noted that Forest expects a decision from the US Food and Drug Admininistration on its filing for levomilnacipran for major depressive disorder "in the next few days" and later this calendar, the agency will decide on whether to approve cariprazine for the treatment of schizophrenia and acute mania associated with bipolar 1 disorder.