Healthy Skepticism Library item: 18452

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: news

Donley M
Forest Labs' profit drops 55% on charges
Market Watch 2010 July 20
http://www.marketwatch.com/story/forest-labs-profit-drops-55-on-charges-2010-07-20

Full text:

Forest Laboratories said Tuesday that its first-quarter earnings fell to $117.5 million, or 39 cents a share, from $262.9 million, or 87 cents a share, in the year-earlier period. The drug maker said its latest results include charges of 17 cents a share for a new product licensing fee and 39 cents a share related to resolving a Justice Department-led probe into pharmaceutical marketing activities. Excluding items, Forest Labs’ earnings would have increased to 95 cents a share from 87 cents. On average, analysts polled by FactSet Research expected a profit of 87 cents a share. Forest Labs said it now expects to post full-year profit of $3.67 to $3.77 a share, excluding items.

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Far too large a section of the treatment of disease is to-day controlled by the big manufacturing pharmacists, who have enslaved us in a plausible pseudo-science...
The blind faith which some men have in medicines illustrates too often the greatest of all human capacities - the capacity for self deception...
Some one will say, Is this all your science has to tell us? Is this the outcome of decades of good clinical work, of patient study of the disease, of anxious trial in such good faith of so many drugs? Give us back the childlike trust of the fathers in antimony and in the lancet rather than this cold nihilism. Not at all! Let us accept the truth, however unpleasant it may be, and with the death rate staring us in the face, let us not be deceived with vain fancies...
we need a stern, iconoclastic spirit which leads, not to nihilism, but to an active skepticism - not the passive skepticism, born of despair, but the active skepticism born of a knowledge that recognizes its limitations and knows full well that only in this attitude of mind can true progress be made.
- William Osler 1909