Company News: Forest, Pri-Med Institute and pmiCME

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Forest reported fiscal third-quarter 2010 adjusted diluted earnings per share of $0.97, beating analyst consensus by $0.11. Higher-than-expected sales drove the earnings and reflect Forest's success with its new product launches Savella (for fibromyalgia, launched in April 2009), which recorded sales of $15.4 million in the fiscal third quarter, and Bystolic (for hypertension, launched in Jan. 2008), which posted sales of $47.5 million vs. $21.0 million in last year's fiscal third quarter. Overall sales surged 8.4% to $997.0 million, from $920.0 million in the year-ago period. Anxiety drug Lexapro sales dipped 0.5% from the year-ago period to $582.6 million, while Alzheimer's drug Namenda rose 17.3% to $282.5 million during the quarter.

CME firm Pri-Med Institute has changed its name to pmiCME, a name which more clearly distinguishes it as an accredited provider, the company said last week. The change became effective Jan. 1. “This step is being taken to ensure clarity, transparency and disclosure as the use of the Pri-Med name is being increasingly applied to platforms and activities that are not certified CME,” read a statement. pmiCME provides accreditation and education in partnership with other education providers, as well as for Pri-Med, the brand that is owned and operated by M|C Communications. “The evolution to our new name—pmiCME—ties us more closely to what we do—CME and continuing education for other health care professionals as the independent division of M|C Holding Corp.,” said Marissa Seligman, PharmD, chief clinical & regulatory affairs and compliance officer, M|C Holding Corp., and SVP, pmiCME.
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