NEW YORK--(BUSINESS WIRE)--Forest Laboratories, Inc. (NYSE: FRX), an international pharmaceutical manufacturer and marketer, today announced that reported earnings per share equaled $0.90 in the first quarter of fiscal 2012. Excluding a charge of $40.0 million, or $0.14 per share net of tax for a new product licensing fee, non-GAAP earnings per share for the first fiscal quarter were $1.04 per share. The new product licensing fee is related to the previously announced agreement with Blue Ash Therapeutics, LLC (Blue Ash) for azimilide, a novel antiarrhythmic agent. Reported earnings per share in the first quarter of fiscal 2011 were $0.39 after a charge of $148.4 million or $0.39 per share net of tax, related to the settlement with the United States Department of Justice (DOJ) stemming from investigations led by the DOJ and the U.S. Attorney’s Office for the District of Massachusetts, and a charge of $50.0 million or $0.17 per share net of tax for a new product licensing fee, related to our agreement with TransTech Pharma, Inc. (TransTech) for a novel class of glucose-lowering agents for the treatment of diabetes.
