Forest Laboratories Responds to Icahn Filing
July 30 2012 - 7:15PM
Business Wire
Forest Laboratories, Inc. (NYSE: FRX) (“Forest”) announced that
it is filing a presentation with the Securities and Exchange
Commission (“SEC”) in response to a presentation filed by Carl C.
Icahn on July 30, 2012. The presentation is being posted to
www.FRX2012annualmeeting.com and the SEC’s website,
www.sec.gov.
The presentation highlights Mr. Icahn’s changing story on
SG&A spending, continued attempts to mislead investors, and use
of cherry picked data in an effort to defend his flawed attacks on
the Company’s product performance. The misguided assertions in Mr.
Icahn’s July 30 filing expose his fundamental lack of understanding
of Forest’s business.
Forest’s Annual Meeting of Shareholders will be held on August
15, 2012. The Company urges shareholders to vote the WHITE card
they have received from Forest and to vote “FOR ALL” 10 of Forest’s
nominees to its Board of Directors. Shareholders can vote by
telephone, Internet or by signing, dating and returning the
Company’s WHITE proxy card. Forest urges shareholders NOT to sign
any proxy card sent to them by the Icahn Group. Even a withhold
vote for Icahn’s nominees on Mr. Icahn’s gold proxy card will
cancel any previous proxy submitted by shareholders that voted “FOR
ALL” of the Company’s nominees.
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, 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, its directors, director
nominees 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 Laboratories has
filed its definitive proxy statement (as it may be amended, the
“Proxy Statement”) with the U.S. Securities and Exchange Commission
(the “SEC”) in connection with such solicitation of proxies from
Forest shareholders. FOREST SHAREHOLDERS ARE STRONGLY ENCOURAGED TO
READ THE PROXY STATEMENT AND ACCOMPANYING PROXY CARD AS THEY
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 can obtain the 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 are also
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.
If you have any questions, require
assistance with voting your WHITE proxy card,
or need additional copies of the proxy
materials, please contact:
MACKENZIE
PARTNERS, INC.
105 Madison Avenue
New York, NY 10016
frxproxy@mackenziepartners.com
(212) 929-5500 (Call Collect)
Or
TOLL-FREE (800) 322-2885
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.
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