Forest Laboratories pre-tax profits tumble 47.5%

Pre-tax profits at the main Irish subsidiary of US- owned pharmaceutical firm, Forest Laboratories last year decreased by 47.5% to $626.5m (€489.6m).

Documents just filed with the Companies Registration Office show that pre-tax profits at Forest Laboratories Holdings decreased by $567m from $1.1bn after revenues dipped by $471m or 15% from $3.2bn to $2.7bn in the 12 months to the end of March.

The Dublin-based firm is the license holder to manufacture and distribute Forest Laboratories’ bestselling products in the US. Last year, the subsidiary paid a dividend of $10m to its US parent.