Forest Laboratories Announces Executive Exercised Stock Options with Intent to Hold Shares
December 11 2009 - 4:29PM
Business Wire
Forest Laboratories, Inc. (NYSE: FRX), announced today that
Howard Solomon, Chairman and Chief Executive Officer exercised
stock options for 1,200,000 shares which are expiring in December
2009 having reached the end of their 10-year term. Mr. Solomon
indicated his intent to hold all shares of Forest common stock
obtained through the option exercise, net of those shares withheld
by the Company to cover the cost associated with the option
exercise and related tax payments.
About Forest
Laboratories
Forest Laboratories (NYSE: FRX) is a U.S.-based pharmaceutical
company with a long track record of building partnerships and
developing and marketing products that make a positive difference
in people’s lives. In addition to its well-established franchises
in therapeutic areas of the central nervous and cardiovascular
systems, Forest’s current pipeline includes product candidates in
all stages of development and across a wide range of therapeutic
areas. The Company is headquartered in New York, NY. To learn more
about Forest Laboratories, visit www.FRX.com.
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 Forest
Laboratories’ Annual Report on Form 10-K, Quarterly Report on Form
10-Q, and any subsequent SEC filings.
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