Many New Products For Forest, But Not Enough To Fill The Lexapro Gap
This article was originally published in The Pink Sheet Daily
The launches of Tudorza for COPD and Linzess for irritable bowel syndrome are off to strong starts, Forest executives said during the company’s fiscal fourth quarter sales and earnings call. But despite those and other recent entries, the company reported a net loss for the year after revenues nose-dived from the loss of Lexapro.
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Actavis’ proposal to buy Forest Labs for $25 billion in stock and cash was driven by consolidating customers and fierce competition in traditional Western markets. Different pressures, namely the tough-to-manage patent cliff, as well as leadership succession issues and investor unrest, drove Forest into the arms of a suitor.