Thursday, May 30, 2013
Forest Lab's Fortunes Tied to New Drugs
Forest Lab's (FRX-$39.91) management told analysts on its recent earning’s call that sales of next-generation products could grow 48% over fiscal 2013, adding incremental revenue of $1.32 billion in 2014. This optimism is founded on recent sales momentum exhibited by these newer drugs - such as Tudorza (aclidinium bromide inhaled powder) and Daliresp (roflumilast) for patients with chronic obstructive pulmonary disease - which posted year-on-year gains in the fourth quarter of 51.3% to $254.3 million..
Unfortunately, management has demonstrated an insouciant reticence when it comes to individual drug performance – as opposed to the aggregate: The antibiotic Teflaro, for example, launched back in March 2011, continues to underperform, recording anemic sales of just $13.1 million last quarter.
Continue reading at YCharts: Is There a Pill For That? Forest Lab's Iffy Pipeline
Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.