Forest Seeds a Growth Plan
By Robert Steyer
TheStreet.com Staff Reporter
Forest Laboratories (FRX - Cramer’s Take - Stockpickr) is facing a mid-cap version of a Big Pharma headache as it seeks new drugs to replace those that will lose U.S. patent protection early in the next decade.
This year is pivotal because Forest has two products that now account for 80% of revenue. By the end of this month, or early June, Forest will unveil late-stage clinical trial results for two drugs: a treatment for fibromyalgia and a stroke-preventer, which has been genetically engineered from the saliva of a vampire bat.
By year-end, it expects to hear from the Food and Drug Administration about a blood-pressure drug licensed from Mylan Laboratories. Also by year-end, it should have the results (more…)