FOREST LABS Shares FALL- on Cipromil Celexa Drug Query

[Guest guest]

FOREST LABS Shares FALL- on Cipromil Celexa Drug Query

FOREST LABS Shares FALL on Drug Query

Forest Labs Falls on Drug Query

By Gillin

TheStreet.com Staff Reporter

6/30/2004 2:10 PM EDT

URL: http://www.thestreet.com/markets/ericgillin/10168688.html

Forest Laboratories (FRX:NYSE) shares continued their slump

Wednesday, hitting a

seven-month low after the company received a request from the New

York State

Attorney General for information concerning off-label clinical

trials for its

products.

The news is the latest in Eliot Spitzer's ongoing investigation into

whether

drugmakers are secretly burying negative clinical studies to promote

a rosy

worldview to investors. Three weeks ago, the Attorney General sued

GlaxoKline (GSK:NYSE) , alleging the company spiked negative

studies about

the effect of the antidepressant Paxil on children.

In reaction, Forest said it will fully cooperate with the request,

stressing it

was not a subpoena, and said it believes it has complied with all

applicable

laws. But shares of the company fell $1.55, or 2.7%, to $56.10,

hitting $54.97

early in the session, a low the shares hadn't seen since Dec. 7.

Forest has been on the defensive lately, coming under increasing

scrutiny by the

Food and Drug Administration for not publishing data from clinical

trials of its

depressants, especially with regards to claims that its

antidepressants increase

the risk of suicide in young patients.

Recently, a pair of European studies -- neither of which was touted

by Forest --

seemed to suggest that its antidepressant Celexa had a greater risk

for younger

patients than was previously thought. To help assuage fears it was

hiding

something, last Friday Forest sent out a press release reviewing the

results of

trials on Celexa and Lexapro.

Forest's review of the testing was mixed. Lexapro failed to show

improvement in

patients when compared to a placebo, but it also did not increase

the risk of

suicide. Similarly, the company concluded that Celexa did not

increase suicide

risk, but said it will follow FDA recommendations and add a warning

to its label

about the possibility of suicide in younger patients.

Ultimately, Celexa has not been given FDA approval as a treatment

for depression

in those under the age of 18 and doesn't market the drug towards this

demographic, so doctors who choose to use it are going off label.

According to

estimates, less than 10% of Celexa prescriptions are for underage

patients.

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[Guest guest]

FOREST LABS Shares FALL- on Cipromil Celexa Drug Query

FOREST LABS Shares FALL on Drug Query

Forest Labs Falls on Drug Query

By Gillin

TheStreet.com Staff Reporter

6/30/2004 2:10 PM EDT

URL: http://www.thestreet.com/markets/ericgillin/10168688.html

Forest Laboratories (FRX:NYSE) shares continued their slump

Wednesday, hitting a

seven-month low after the company received a request from the New

York State

Attorney General for information concerning off-label clinical

trials for its

products.

The news is the latest in Eliot Spitzer's ongoing investigation into

whether

drugmakers are secretly burying negative clinical studies to promote

a rosy

worldview to investors. Three weeks ago, the Attorney General sued

GlaxoKline (GSK:NYSE) , alleging the company spiked negative

studies about

the effect of the antidepressant Paxil on children.

In reaction, Forest said it will fully cooperate with the request,

stressing it

was not a subpoena, and said it believes it has complied with all

applicable

laws. But shares of the company fell $1.55, or 2.7%, to $56.10,

hitting $54.97

early in the session, a low the shares hadn't seen since Dec. 7.

Forest has been on the defensive lately, coming under increasing

scrutiny by the

Food and Drug Administration for not publishing data from clinical

trials of its

depressants, especially with regards to claims that its

antidepressants increase

the risk of suicide in young patients.

Recently, a pair of European studies -- neither of which was touted

by Forest --

seemed to suggest that its antidepressant Celexa had a greater risk

for younger

patients than was previously thought. To help assuage fears it was

hiding

something, last Friday Forest sent out a press release reviewing the

results of

trials on Celexa and Lexapro.

Forest's review of the testing was mixed. Lexapro failed to show

improvement in

patients when compared to a placebo, but it also did not increase

the risk of

suicide. Similarly, the company concluded that Celexa did not

increase suicide

risk, but said it will follow FDA recommendations and add a warning

to its label

about the possibility of suicide in younger patients.

Ultimately, Celexa has not been given FDA approval as a treatment

for depression

in those under the age of 18 and doesn't market the drug towards this

demographic, so doctors who choose to use it are going off label.

According to

estimates, less than 10% of Celexa prescriptions are for underage

patients.

---------------------------------------------------------------------

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[Guest guest]

FOREST LABS Shares FALL- on Cipromil Celexa Drug Query

FOREST LABS Shares FALL on Drug Query

Forest Labs Falls on Drug Query

By Gillin

TheStreet.com Staff Reporter

6/30/2004 2:10 PM EDT

URL: http://www.thestreet.com/markets/ericgillin/10168688.html

Forest Laboratories (FRX:NYSE) shares continued their slump

Wednesday, hitting a

seven-month low after the company received a request from the New

York State

Attorney General for information concerning off-label clinical

trials for its

products.

The news is the latest in Eliot Spitzer's ongoing investigation into

whether

drugmakers are secretly burying negative clinical studies to promote

a rosy

worldview to investors. Three weeks ago, the Attorney General sued

GlaxoKline (GSK:NYSE) , alleging the company spiked negative

studies about

the effect of the antidepressant Paxil on children.

In reaction, Forest said it will fully cooperate with the request,

stressing it

was not a subpoena, and said it believes it has complied with all

applicable

laws. But shares of the company fell $1.55, or 2.7%, to $56.10,

hitting $54.97

early in the session, a low the shares hadn't seen since Dec. 7.

Forest has been on the defensive lately, coming under increasing

scrutiny by the

Food and Drug Administration for not publishing data from clinical

trials of its

depressants, especially with regards to claims that its

antidepressants increase

the risk of suicide in young patients.

Recently, a pair of European studies -- neither of which was touted

by Forest --

seemed to suggest that its antidepressant Celexa had a greater risk

for younger

patients than was previously thought. To help assuage fears it was

hiding

something, last Friday Forest sent out a press release reviewing the

results of

trials on Celexa and Lexapro.

Forest's review of the testing was mixed. Lexapro failed to show

improvement in

patients when compared to a placebo, but it also did not increase

the risk of

suicide. Similarly, the company concluded that Celexa did not

increase suicide

risk, but said it will follow FDA recommendations and add a warning

to its label

about the possibility of suicide in younger patients.

Ultimately, Celexa has not been given FDA approval as a treatment

for depression

in those under the age of 18 and doesn't market the drug towards this

demographic, so doctors who choose to use it are going off label.

According to

estimates, less than 10% of Celexa prescriptions are for underage

patients.

---------------------------------------------------------------------

-----------

[Guest guest]

FOREST LABS Shares FALL- on Cipromil Celexa Drug Query

FOREST LABS Shares FALL on Drug Query

Forest Labs Falls on Drug Query

By Gillin

TheStreet.com Staff Reporter

6/30/2004 2:10 PM EDT

URL: http://www.thestreet.com/markets/ericgillin/10168688.html

Forest Laboratories (FRX:NYSE) shares continued their slump

Wednesday, hitting a

seven-month low after the company received a request from the New

York State

Attorney General for information concerning off-label clinical

trials for its

products.

The news is the latest in Eliot Spitzer's ongoing investigation into

whether

drugmakers are secretly burying negative clinical studies to promote

a rosy

worldview to investors. Three weeks ago, the Attorney General sued

GlaxoKline (GSK:NYSE) , alleging the company spiked negative

studies about

the effect of the antidepressant Paxil on children.

In reaction, Forest said it will fully cooperate with the request,

stressing it

was not a subpoena, and said it believes it has complied with all

applicable

laws. But shares of the company fell $1.55, or 2.7%, to $56.10,

hitting $54.97

early in the session, a low the shares hadn't seen since Dec. 7.

Forest has been on the defensive lately, coming under increasing

scrutiny by the

Food and Drug Administration for not publishing data from clinical

trials of its

depressants, especially with regards to claims that its

antidepressants increase

the risk of suicide in young patients.

Recently, a pair of European studies -- neither of which was touted

by Forest --

seemed to suggest that its antidepressant Celexa had a greater risk

for younger

patients than was previously thought. To help assuage fears it was

hiding

something, last Friday Forest sent out a press release reviewing the

results of

trials on Celexa and Lexapro.

Forest's review of the testing was mixed. Lexapro failed to show

improvement in

patients when compared to a placebo, but it also did not increase

the risk of

suicide. Similarly, the company concluded that Celexa did not

increase suicide

risk, but said it will follow FDA recommendations and add a warning

to its label

about the possibility of suicide in younger patients.

Ultimately, Celexa has not been given FDA approval as a treatment

for depression

in those under the age of 18 and doesn't market the drug towards this

demographic, so doctors who choose to use it are going off label.

According to

estimates, less than 10% of Celexa prescriptions are for underage

patients.

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