Forest Laboratories Revises FY2005 Earnings Guidance
November 01 2004 - 4:17PM
PR Newswire (US)
Forest Laboratories Revises FY2005 Earnings Guidance NEW YORK, Nov.
1 /PRNewswire-FirstCall/ -- Forest Laboratories, Inc. (NYSE:FRX)
announced today that following the October 28th Food and Drug
Administration approval and subsequent launch of several generic
versions of its branded SSRI antidepressant Celexa(R), including a
launch by Forest's generic division, Inwood Laboratories, it has
revised its guidance for diluted earnings per share for the fiscal
year ending March 31, 2005. Forest currently expects that diluted
earnings per share for fiscal 2005 will be approximately $2.50
compared to reported diluted earnings per share in fiscal 2004 of
$1.95. This guidance allows for marketing expenses associated with
the launch of Campral(R) for alcohol dependence and the potential
launch of Combunox(TM) for the management of acute, moderate to
severe pain in the fiscal fourth quarter. The Company does not
expect to make any operational changes as a result of the launch of
generic versions of Celexa, nor will there be any impact on its
gross margins. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001011/FORESTLOGO ) Except
for the historical information contained herein, this release
contains "forward-looking statements" within the meaning of the
Private Securities Reform Act of 1995. These statements are subject
to risks and uncertainties that affect our business, including risk
factors listed from time to time in the Company's SEC reports,
including the Company's Annual Report on Form 10-K for the fiscal
year ended March 31, 2004 and the quarterly report on Form 10-Q for
the period ended June 30, 2004. Actual results may differ
materially from those projected.
http://www.newscom.com/cgi-bin/prnh/20001011/FORESTLOGODATASOURCE:
Forest Laboratories, Inc. CONTACT: CHARLES E. TRIANO, Vice
President - Investor Relations of Forest Laboratories, Inc.,
+1-212-224-6714, Web site: http://www.frx.com/
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