Forest Laboratories Issues Response to Carl Icahn Letter
July 02 2012 - 5:43PM
Business Wire
Forest Laboratories, Inc. (NYSE: FRX) today issued the following
statement in response to a letter it received from Carl C.
Icahn:
“We are not surprised by Mr. Icahn’s theatrical display of
self-serving rhetoric, but his public rants do not serve any useful
purpose. Forest has always been willing to listen to its
shareholders who offer substantive and helpful suggestions. We
believe that the Company’s shareholders support our prospects to
build value. Forest continues to advance its pipeline and is well
positioned for the future. As we did last year when Forest
shareholders decisively rejected his slate, we will respond
appropriately to Mr. Icahn in due course.”
About Forest Laboratories
Forest Laboratories' (NYSE: FRX) longstanding global
partnerships and track record developing and marketing
pharmaceutical products in the United States have yielded its
well-established central nervous system and cardiovascular
franchises and innovations in anti-infective, respiratory,
gastrointestinal and pain management medicine. Forest’s pipeline,
the most robust in its history, includes product candidates in all
stages of development across a wide range of therapeutic areas. The
Company is headquartered in New York, NY. To learn more, visit
www.FRX.com.
Forward-Looking Information
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 Reports on Form
10-Q and any subsequent SEC filings.
Important Additional Information
Forest Laboratories has filed a preliminary proxy statement with
the U.S. Securities and Exchange Commission (the "SEC") with
respect to the 2012 Annual Meeting of Shareholders and intends to
file a definitive proxy statement as well. The definitive proxy
statement and white proxy card will be mailed to shareholders of
Forest. Forest Laboratories, its directors and certain of its
executive officers may be deemed to be participants in the
solicitation of proxies from Forest shareholders in connection with
the matters to be considered at Forest Laboratories' 2012 Annual
Meeting. FOREST SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ ANY
SUCH PROXY STATEMENT AND ACCOMPANYING PROXY CARD WHEN THEY BECOME
AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Information
regarding the ownership of Forest's directors and executive
officers in Forest stock, restricted stock and options is included
in their SEC filings on Forms 3, 4 and 5, which can be found at the
Company's website (www.frx.com) in the section "Investors." More
detailed information regarding the identity of potential
participants, and their direct or indirect interests, by security
holdings or otherwise, is set forth in the proxy statement and
other materials to be filed with the SEC in connection with Forest
Laboratories' 2012 Annual Meeting. Information can also be found in
Forest's Annual Report on Form 10-K for the year ended March 31,
2012, filed with the SEC on May 25, 2012. Shareholders will be able
to obtain any proxy statement, any amendments or supplements to the
proxy statement and other documents filed by Forest Laboratories
with the SEC for no charge at the SEC's website at www.sec.gov.
Copies will also be available at no charge at Forest Laboratories'
website at www.frx.com or by writing to Forest Laboratories at 909
Third Avenue, New York, New York 10022.
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