Forest Laboratories, Inc. Reports First Quarter FY 2011 EPS of $0.39, Including $0.39 Per Share Charge Related to Settlement in Principle with US Department of Justice and $0.17 Per Share Charge for New Product Licensing Fee

NEW YORK--(BUSINESS WIRE)--Forest Laboratories, Inc. (NYSE: FRX), an international pharmaceutical manufacturer and marketer, today announced that diluted earnings per share equaled $0.39 in the first quarter of fiscal 2011. Excluding the charge related to the United States Department of Justice investigations described below, and a charge of $50.0 million, or $0.17 per share net of tax, for a new product licensing fee, non-GAAP earnings per share for the first fiscal quarter were $0.95 per share. The new product licensing fee is related to the previously announced agreement with TransTech Pharma, Inc. for a novel class of glucose-lowering agents for the treatment of diabetes.