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Forest Labs bets on pharmaceutical sales of COPD treatment to boost profits
Jul 24, 2012 12:16 PM
Facing increased pharmaceutical sales competition from rival generic drug makers, Forest Laboratories will soon market a new treatment for chronic obstructive pulmonary disease (COPD) that it said will help boost future profits.
Forest announced that the Food and Drug Administration (FDA) has approved its twice-daily drug Tudorza Pressair to treat the serious lung disease, which is often caused by cigarette smoking.
Although Tudorza will enter an already crowded COPD market, Wall Street analysts have forecasted that overall sales of COPD therapies could reach more than $5 billion over the next two years.
"COPD is a serious disease that gets worse over time," Dr. Curtis Rosebraugh, director of the Office of Drug Evaluation II in FDA’s Center for Drug Evaluation and Research, stated. "The availability of long-term maintenance drugs for COPD provides additional treatment options for the millions of people who suffer with this debilitating disease."
According to the agency, approximately 14 million people in the U.S. and 64 million worldwide suffer from the debilitating condition. The World Health Organization is forecasting that COPD could become the third-leading cause of death worldwide by 2030.
Forest announced a recent decline in pharmaceutical sales profits after its blockbuster antidepressant Lexapro lost patent protection in March.
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