Robertson Stephens Reiterates Buy Rating on FRX.

SAN FRANCISCO--(BUSINESS WIRE)--Dec. 16, 1999--

Robertson Stephens Managing Director and Senior Specialty Pharmaceuticals Analyst Donald B. Ellis today reiterated his Buy rating on Forest Laboratories (NYSE:FRX). Forest develops and markets branded, generic and non-prescription drugs in the United States and Western and Eastern Europe.

"We are reiterating our Buy rating and price target of $65 on Forest Laboratories, following IMS's release of November prescription-sales data," said Ellis.

"Organic growth in prescriptions increased from 11 percent year-to-date to 42 percent in November 1999, which we believe suggests improving fundamentals," said Ellis. "Quarter-to-date growth in Celexa prescriptions increased 23 percent, which compares favorably to our forecast of 10 percent for the December quarter. Other drugs contributing to top-line growth include Tiazac, increasing 25 percent, Thyroid increasing 14 percent, and Levothroid, increasing 71 percent."

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