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.
