Forest Labs says FDA approves depression drug
Forest Laboratories Inc. said Friday that the Food and Drug Administration has approved its depression drug Fetzima, and the drug should be available in the fourth quarter.
Forest makes Alzheimer's treatment Namenda and another antidepressant, Lexapro, whose sales have shrunk because of generic competition. The New York company has had a handful of new drugs approved in the last couple years.
Forest said Fetzima, or levomilnacipran, was approved as a treatment for major depressive disorder in adults. It's a pill intended to be taken once per day.
The drug is a serotonin and norepinephrine reuptake inhibitor, or SNRI. SNRIs are commonly used to treat depression and anxiety. Eli Lilly and Co. makes an SNRI called Cymbalta, while Pfizer Inc.'s are Effexor and Pristiq.
Shares of Forest rose 42 cents to $44.41 Friday and lost 39 cents to $44.11 in aftermarket trading.