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Earnings from Forest Laboratories way above Expectations

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Shares of the pharmaceutical giant of the Forest Laboratories, Inc. (NYSE:FRX) are trading higher this morning after beating third quarter earnings estimates. The drug maker reported earnings of 27 cents on revenues of $846.8 million. Analysts were expecting earnings of only 4 cents a share on revenues of $827 million. As you can see, Forest far exceeded expectations.  Sales of the Alzheimer’s drug Namenda and the hypertension drug Bystolic helped propel revenue growth in the quarter. The company also raised its full year forecast which ends on March 31 to a range of $1.25 to $1.34 per share.