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news.Forest Laboratories has reported that its third quarter net income decreased by 25% to $195 million as compared to $260 million for the same period a year ago.
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This fall in profit is partly due to a 9% decrease in overall revenues from $832 million to $758 million.
Sales in the quarter included $486 million for Forest’s antidepressant franchise including $481 million from Lexapro, indicated for the initial and maintenance treatment of major depressive disorder and generalized anxiety disorder in adults, as well as $4.8 million from Celexa, an antidepressant.
Other income included earnings of $28 million from the co-promotion agreement with Sankyo Pharma for Benicar and Benicar HCT, antihypertensive therapies.
“During the quarter, sales for our key promoted products increased compared to the prior year. Our additional collaborations with Gedeon Richter Limited announced during the quarter are important pipeline additions in the CNS area,” said Howard Solomon, chairman and chief executive officer of Forest.