Forest Laboratories to File Investor Presentation and White Paper
August 06 2012 - 8:00AM
Business Wire
Forest Laboratories, Inc. (NYSE: FRX) (“Forest”) announced today
that it will file an investor presentation and white paper with the
Securities and Exchange Commission (“SEC”) in connection with its
Annual Meeting of Shareholders to be held on August 15, 2012. The
documents were posted to www.FRX2012annualmeeting.com and will be
available later today on the SEC’s website, www.sec.gov.
The presentation and white paper outline important facts for
shareholders to consider in advance of the upcoming director
elections at Forest’s Annual Meeting, including:
- Forest continues to make significant
progress advancing its late-stage pipeline, which is one of the
most robust in the industry.
- Forest is poised to deliver strong
returns to shareholders, and projects $6 billion in revenue by FY
2018.
- Forest’s focus on Primary Care
Physicians (PCPs), who write the significant majority of
prescriptions across multiple product classes, generates
significant operating leverage.
- Forest manages SG&A prudently, but
broad cutbacks at this point as suggested by Carl Icahn threaten
the products in its late-stage pipeline and would destroy
shareholder value.
- Forest’s Board, which represents an
effective balance of continuing leadership and new perspectives, is
well-equipped to drive the development of the Company’s valuable
portfolio.
- Forest’s Board remains committed to
strong corporate governance and has recently enhanced its
governance and compensation policies.
- The quality of Board members is
paramount, and Mr. Icahn’s candidates are not well-suited to serve
on Forest’s Board; Glass Lewis & Co., LLC supported all ten of
Forest’s Board nominees.
Forest 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. Any later vote using Mr. Icahn’s
gold proxy card, even to withhold votes from Icahn’s nominees, can
cancel a previous WHITE proxy submitted by shareholders voting
“FOR” the Company’s nominees. If you have already voted using an
Icahn gold proxy card, you have every right to change your vote by
executing and returning the enclosed WHITE proxy card. 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. at 105 Madison Avenue, New York,
NY 10016; frxproxy@mackenziepartners.com; (212) 929-5500 (Call
Collect) or (800) 322-2885 (Toll Free).
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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