Forest Laboratories Announces Completion of Acquisition of Cerexa, Inc.
January 11 2007 - 4:03PM
PR Newswire (US)
NEW YORK, Jan. 11 /PRNewswire-FirstCall/ -- Forest Laboratories,
Inc. (NYSE:FRX) today announced that it has successfully completed
the acquisition of Cerexa, Inc., a privately-held biopharmaceutical
company based in Alameda, California, in a cash-for-stock
transaction with a purchase price of $493.6 million plus a
potential $100 million milestone payment. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001011/FORESTLOGO ) About
Forest Laboratories and Its Products Forest Laboratories
(http://www.frx.com/) is a US-based pharmaceutical company
dedicated to identifying, developing, and delivering products that
make a positive difference in peoples' lives. Forest Laboratories'
growing product line includes Lexapro(R) (escitalopram oxalate), an
SSRI indicated for adults for the internal and maintenance
treatment of major depressive disorder and generalized anxiety
disorder; Namenda(R) (memantine HCl), an N-methyl D- aspartate
(NMDA)-receptor antagonist indicated for the treatment of moderate
to severe Alzheimer's disease; Benicar(R)* (olmesartan medoxomil),
an angiotensin receptor blocker, and Benicar* HCT(R) (olmesartan
medoxomil- hydrochlorothiazide), an angiotensin receptor blocker
and diuretic combination product, each indicated for the treatment
of hypertension; and Campral(R)* (acamprosate calcium), indicated
in combination with psychosocial support for the maintenance of
abstinence from alcohol in patients with alcohol dependence who are
abstinent at treatment initiation. * Benicar is a registered
trademark of Daiichi Sankyo, Inc., and Campral is a registered
trademark of Merck Sante s.a.s., subsidiary of Merck KGaA,
Darmstadt, Germany. Except for the historical information contained
herein, this release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements involve a number of risks and uncertainties,
including the difficulty of predicting FDA approvals, the
acceptance and demand for new pharmaceutical products, the impact
of competitive products and pricing, the timely development and
launch of new products, and the risk factors listed from time to
time in the Forest Laboratories' SEC reports, including the
Company's Annual Report on Form 10-K for the fiscal year ended
March 31, 2006 and on Form 10-Q for the periods ended June 30 and
September 30, 2006.
http://www.newscom.com/cgi-bin/prnh/20001011/FORESTLOGO
http://photoarchive.ap.org/ DATASOURCE: Forest Laboratories, Inc.
CONTACT: Charles E. Triano, Vice President - Investor Relations, of
Forest Laboratories, Inc., +1-212-224-6714, Web site:
http://www.frx.com/
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