Forest Laboratories Inc announced that Namenda (memantine HCl), the first of a new class of drugs for Alzheimer's disease, was approved by the U.S. Food and Drug Administration (FDA) for the treatment of moderate to severe Alzheimer's disease. Forest expects Namenda to be available to physicians, patients, and pharmacies in January 2004. Namenda is the first NMDA receptor antagonist to be approved for Alzheimer's disease and is also the only therapy approved for the treatment of moderate to severe Alzheimer's disease.

"The approval of Namenda offers an important new therapeutic option for patients suffering from moderate to severe Alzheimer's disease," said Howard Solomon, Chairman and Chief Executive Officer of Forest Laboratories. "Previously patients with moderate disease had only one class of options; now they have an additional therapy available. And patients who had progressed beyond the moderate stage of Alzheimer's disease had no approved therapeutic option at all. We believe Namenda will provide a meaningful benefit to millions of Americans suffering from Alzheimer's disease, whether as a patient, caregiver, or family member."