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Forest Laboratories, Inc.

5/23/2013, 10:57 PM ET

Quote & Headlines Market Currents StockTalk

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Thursday, May 23, 8:19 AM Forest Labs (FRX) expects to name a successor to Howard Solomon by the end of the year as the CEO announces his retirement, effective Dec. 31 (he'll be 86). Solomon expects to remain Chairman through the 2014 annual meeting, at which a new one will be elected. (PR) Comment! [Healthcare]
Wednesday, May 1, 4:31 PM Forest Laboratories (FRX) and Almirall announce positive topline results from a second six-month Phase III clinical trial evaluating the efficacy and safety of investigational fixed dose combinations of aclidinium bromide and formoterol fumarate, delivered in the Pressair inhaler. Results showed the combination demonstrated statistically significant improvements in change from baseline for the co-primary endpoints. Comment! [Healthcare, Global & FX]
Tuesday, April 23, 8:30 AM Ironwood Pharmaceuticals (IRWD) sinks 13.3% premarket after saying sales of Linzess — the IBS drug the company markets with Forest Labs (FRX) — were $4.5M for Q1 versus expectations of $11-13M. Credit Suisse and Wedbush previously said early evidence suggested demand for the drug was strong. Irina Rivkind at Cantor says Synergy's (SGYP) investigational candidate plecanatide has the potential to achieve revenue parity with Linzess. Comment! [On the Move, Healthcare]
Tuesday, April 23, 7:05 AM Forest Labs (FRX): FQ4 EPS of $0.25 beats by $0.09. Revenue of $783.2M (-21.4% Y/Y) misses by $23.8M. (PR) Comment! [Earnings, Breaking News, Healthcare]
Tuesday, April 23, 12:05 AM Notable earnings before Tuesday’s open: ACI, AKS, AOS, APD, ARMH, CIT, CNC, COH, DAL, DD, DFS, EAT, ECA, FMER, FRX, GCI, GNTX, IDXX, IIVI, IR, IRWD, ITW, JCI, JNS, LCC, LECO, LMT, LXK, MOLX, PCAR, PCH, PII, PMT, PNR, R, RAI, RF, RSH, SNV, ST, TRV, UTX, WAT, XRX 1 Comment [Earnings]
Monday, April 22, 5:30 PM Notable earnings before Tuesday’s open: ACI, AKS, AOS, APD, ARMH, CIT, CNC, COH, DAL, DD, DFS, EAT, ECA, FMER, FRX, GCI, GNTX, IDXX, IIVI, IR, IRWD, ITW, JCI, JNS, LCC, LECO, LMT, LXK, MOLX, PCAR, PCH, PII, PMT, PNR, R, RAI, RF, RSH, SNV, ST, TRV, UTX, WAT, XRX Comment! [Earnings]
Tuesday, April 16, 7:17 AM Carl Ichan-backed Forest Laboratories (FRX) and Almirall say a combination COPD treatment of aclidinium and formoterol met both endpoints in a Phase III clinical trial. Data from a second Phase III trial is forthcoming and, if positive, the companies expect to file an NDA with the FDA. Comment! [Healthcare]
Tuesday, April 9, 11:44 AM Synergy Pharmaceuticals (SGYP +10.3%) soars on heavy volume after Cantor Fitzgerald raises its price target on the shares to $15 from $12. Irina Rivkind says the company's lead investigational drug plecanatide can "achieve revenue parity" with Ironwood (IRWD -0.5%) and Forest Laboratories' (FRX -0.2%) Linzess, an FDA approved treatment for constipation. Comment! [Healthcare, On the Move]
Tuesday, February 12, 3:33 PM AstraZeneca Plc (AZN) needs to make a big buy to reverse its slide, recommends a number of Wall Street analysts, saying the drugmaker needs a "transformational deal" to return it to profit growth. A deal for Shire (SHPG +0.2%) or Forest Labs (FRX +0.7%) would rival its's $15B acquisition of MedImmune in 2007. SHPG could help fill the gap with patent-protected medicines for rare diseases and leading ADD therapies, says Kepler Capital Markets, while FRX's lung treatment would bolster the company's respiratory business. Comment! [Healthcare, M&A]
Tuesday, January 15, 12:47 PM Ironwood Pharmaceuticals (IRWD +1%) gives a Q4 business update on the commercial launch of its irritable bowel syndrome Linzess in the U.S., saying its partner, Forest Laboratories (FRX) reported Q4 product sales of $19.2M. The company also said another commercial partner, Almirall, received approval for Constella for the treatment of moderate to severe irritable bowel syndrome in the European Union. Commercial launch will be initiated in the first half of FY13. Comment! [Healthcare, On the Move]
Tuesday, January 15, 8:13 AM More on Forest Laboratories (FRX -5%) FQ3: swings to net loss of $153.6M from profit of $278.4M, with earnings hurt by the expiration of Lexapro's patent in March 2012 and upfront licensing payments of $76M. Expects FY 2013 EPS at lower end of forecast of $0.45-$0.60 vs consensus of $0.25 - which looks to be a substantial discrepancy - and revenue of $3.1-$3.2B vs $3.15B. (PR) Comment! [Earnings, Healthcare, On the Move]
Tuesday, January 15, 7:03 AM Forest Laboratories (FRX): FQ3 EPS of -$0.21 misses by $0.07. Revenue of $722.7M (-40.2% Y/Y) misses by $38M. (PR) Comment! [Earnings, Breaking News, Healthcare]
Tuesday, January 15, 12:05 AM Notable earnings before Tuesday’s open: FRX, LEN Comment! [Earnings]
Monday, January 14, 5:30 PM Notable earnings before Tuesday’s open: FRX, LEN Comment! [Earnings]
Friday, December 7, 2012, 2:28 PM Forest Laboratories (FRX -0.2%) negotiates a new credit agreement with JPMorgan Chase Bank, entering into a five-year unsecured $750M revolving credit facility which expires in December 2017. The new agreement replaces the company’s prior $500M revolving credit facility which was scheduled to expire today. Comment! [Healthcare]
Tuesday, October 16, 2012, 8:28 AM More on Forest Laboratories (FRX -3%) FQ2: net profit plunges to $20.8M from $249.8M last year, with the the patent expiration for Lexapro continuing to hurt. Forecasts FY adjusted EPS of $0.45-$0.60 vs. consensus of $0.67. Sales breakdown: Namenda +9.1% to $367.6M, Bystolic +29.4% to $106.5M, "next-generation" products +69% to $202M. (PR) Comment! [Earnings, Healthcare, On the Move]