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FOREST LABORATORIES REPORTS FISCAL FIRST QUARTER RESULTS

 NEW YORK, July 20 /PRNewswire/ -- Forest Laboratories, Inc. (AMEX: FRX), an international pharmaceutical manufacturer and marketer, today announced record revenues and earnings for its first fiscal quarter ended June 30, 1993.
 Net income in the current quarter increased 26 percent to $17,544,000 from $13,969,000 reported in last year's first quarter. Net income per share equaled $.39 for the quarter compared to $.31 per share in the first quarter of the prior year.
 For the quarter, net revenues increased 19 percent to $81,439,000 from $68,598,000.
 Howard Solomon, president of Forest, said: "We are pleased with the strong operating results achieved in our first quarter. Our principal promoted branded products continue to respond to the detailing efforts of our salesforce. During this quarter, we completed our NDA on Flumadine(R) by filing the necessary supplementary manufacturing information and we completed our phase III pivotal clinical studies on Monuril(R) and Infasurf(R). We look forward to continued growth in revenues and income in the quarters ahead."
 FOREST LABORATORIES, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (Unaudited, in thousands except per share amounts)
 Fiscal first quarter ended June 30 1993 1992
 Net revenues $ 81,439 $ 68,598
 Income before income taxes 27,414 21,850
 Income taxes 9,870 7,881
 Net income 17,544 13,969
 Net income per common and
 common equivalent share .39 .31
 Weighted average number
 of shares outstanding 45,543 44,948
 -0- 7/20/93
 /CONTACT: Kenneth E. Goodman, vice president - finance of Forest Laboratories, Inc., 212-421-7850/
 (FRX)


CO: Forest Laboratories, Inc. ST: New York IN: MTC SU: ERN

TM-WB -- NY002 -- 6559 07/20/93 08:30 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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