Richter Falls Most in Seven Weeks on Forest Labs: Budapest MoverAndras Gergely
Richter’s shares slid 1.7 percent to 37,100 forint by the close in Budapest, the steepest decline since Nov. 27. Forest slipped as much as 3.7 percent and traded 0.1 percent lower at $37.55 by 11:21 a.m. in New York.
Forest’s loss in the quarter ended Dec. 31 was 21 cents a share excluding one-time items, the New York-based drugmaker said in a statement today. That compares with an 8-cent loss that was the average of 23 analyst estimates compiled by Bloomberg.