Preliminary Results Indicate Forest Shareholders Elect All Company Nominees
August 18 2011 - 10:38AM
Business Wire
Forest Laboratories, Inc. (NYSE: FRX) (“Forest”) today announced
that, based on the estimates of its proxy solicitor, preliminary
results from its Annual Meeting indicate that shareholders have
elected the Company’s entire slate of director nominees by a
significant margin. The Forest directors who were elected are:
Nesli Basgoz, M.D.; Christopher J. Coughlin; Dan L. Goldwasser;
Kenneth E. Goodman; Gerald M. Lieberman; Lawrence S. Olanoff, M.D.,
Ph.D.; Lester B. Salans, M.D.; Brenton L. Saunders; Howard Solomon;
and Peter J. Zimetbaum, M.D. In addition, preliminary results
indicate that the other proposals submitted to a vote, including
the advisory vote on executive compensation, have also been
approved.
Kenneth Goodman, Forest’s Presiding Independent Director, said,
“We greatly appreciate the strong support from our shareholders and
the confidence they have placed in us by electing all of our highly
qualified nominees. We enthusiastically welcome Christopher
Coughlin, Gerald Lieberman and Brenton Saunders to our Board, and
we look forward to working together on behalf of all investors as
we lead the Company through its future growth and development.”
Howard Solomon, Chairman and Chief Executive Officer of Forest,
said, “On behalf of Forest’s Board and management team, we would
like to express our sincere appreciation to William Candee and
George Cohan for their distinguished service on our Board. We would
also like to thank our talented employees. Because of their hard
work, our company is strong and performing well, with one of the
deepest and most promising product portfolios in the industry. This
is a time of tremendous opportunity for Forest, and we are
confident in our future prospects.”
Preliminary results as tabulated by the Company’s independent
Inspector of Elections, IVS Associates, Inc., are expected to be
announced next week, and final results will be announced promptly
following certification by the Inspector.
Forward Looking Information
Except for the historical information contained herein, this
document 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, changes in laws and regulations affecting the healthcare
industry and the risk factors listed from time to time in Forest
Laboratories’ Annual Reports on Form 10-K (including the Annual
Report on Form 10-K for the fiscal year ended March 31, 2011),
Quarterly Reports on Form 10-Q, and any subsequent SEC filings.
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