Navigation Links
Carl Icahn Issues Open Letter to Shareholders of Forest Laboratories
Date:7/24/2012

NEW YORK, July 24, 2012 /PRNewswire/ -- Carl Icahn today issued the following open letter to shareholders of Forest Laboratories, Inc.:

CARL C. ICAHN
767 Fifth Avenue, 47th Floor
New York, NY 10153

July 24, 2012

Dear Fellow Forest Labs Shareholders,

The Forest Labs Annual Meeting will take place on August 15, 2012.  Today we mailed you our definitive proxy statement containing important information, including information on how to vote your Forest shares.  Your vote is important as the company is at a critical juncture and our four director nominees have the necessary qualifications, experience and shareholder perspective to help fix the problems at Forest Labs.

I believe Forest Labs is in crisis.  Howard Solomon was wrong in the past with his overly optimistic predictions.  The company's stock price is down 11% in the past 10 years and more than 50% from its peak.  Moreover, it appears to me that Forest was completely unprepared for the Lexapro patent cliff resulting in an estimated 80% decline in earnings for the upcoming fiscal year.

I am also concerned, as should you be, that Howard Solomon will be wrong again about his currently optimistic view of the company's pipeline.  Forest's new pipeline drugs have missed guidance 8 out of 11 times in the past four years.  Therefore, the Board's current strategy is not expected to offset lost revenues from the Lexapro patent cliff and is responsible for the 80% earnings decline in the upcoming year.  Additionally, the company is again making promises that we believe they can't keep and they will not be adequately prepared for the Namenda patent cliff that will occur in 2015 which could be devastating for the company. 

MOREOVER, GIVEN FOREST'S WEAK HISTORY OF CAPITAL ALLOCATION, YOU SHOULD SHARE MY CONCERN THAT THE CURRENT BOARD WILL PERMIT HOWARD SOLOMON TO RISK THE COMPANY'S
'/>"/>

SOURCE Carl C. Icahn
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related medicine technology :

1. Carl Icahn Issues Letter To Howard Solomon Of Forest Laboratories
2. Icahn Issues Statement Regarding Amylin Pharmaceuticals
3. Respironics, Inc. Issues Voluntary Recall of a Limited Number of Trilogy Ventilators
4. MLB All-Star Pitcher CC Sabathia Issues Fast Relief Challenge to Generate Donations for the American Red Cross
5. PAREXEL International Issues Earnings Guidance In Conjunction With Investor Day
6. FDA Issues Complete Response Letter for 800mg PREZISTA® (darunavir) Tablet
7. OncoSec Medical Issues Letter to Shareholders
8. Ameritox Announces Educational Resources to Help Physicians Navigate Complex Compliance Issues
9. BD Issues 2011 Sustainability Report
10. Upcoming Presentations on Global Market Access Issues and Trends in Health Economics and Outcomes Research at ISPOR 2012 by Novel Health Strategies
11. U.S. Patent Office Issues Sixth Patent Covering Zero-Footprint Medical Image Viewers to Heart Imaging Technologies, LLC
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2015)... , April 27, 2015  CryoLife, Inc. (NYSE: ... processing company focused on cardiac and vascular surgery, announced ... the United States Food and Drug Administration ("FDA") verifying ... in place following the warning letter it received from ... letter follows a re-inspection in March 2015 by the ...
(Date:4/27/2015)... Va. and WASHINGTON , ... Specialty Pharmacy (NASP) and SmartBrief recently partnered to deliver ... a snapshot of the top news in the industry. ... pharmacies, pharmaceutical and biotechnology manufacturers, GPOs, distributors and other ... resource will launch on April 27, 2015. ...
(Date:4/27/2015)... Demonstrating the power of partnership within the medtech community, ... produce a world class medical technology conference in conjunction ... 2015, at the Minneapolis Convention ... combined 2015 Minneapolis event is expected to bring in ... under one roof, offering a great networking opportunity for ...
Breaking Medicine Technology:CryoLife Announces Resolution of FDA Warning Letter 2NASP and SmartBrief Partner on Specialty Pharmacy SmartBrief 2LifeScience Alley and MD&M Minneapolis partner for Minnesota Medtech Week 2LifeScience Alley and MD&M Minneapolis partner for Minnesota Medtech Week 3
(Date:4/28/2015)... 2015 The PracticeMatch Career Fair ... 8:00 pm at the Sheraton Colonial Boston North Hotel, 1 ... and groups with career opportunities will be attending from across ... free hors d’oeuvres and raffle prize drawings. , Leslie Thompson, ... is an ideal location to hold a career fair. In ...
(Date:4/28/2015)... April 28, 2015 The Awareness Counselor team ... common topic of judging. According to Awareness Counselor, there are ... when directed outward, and to an individual who self-judges. This ... clients as a class or one one one talk. , ... of Awareness Counselor, is that every being on earth is ...
(Date:4/28/2015)... Aliso Viejo, CA (PRWEB) April 28, 2015 ... created for use in Final Cut Pro X ... attention to specific areas on-screen with classic buttons, animated ... Annotate is the perfect compliment to vlogs, video series, ... Cut Pro X 10.2 or newer. ProTube Annotate ...
(Date:4/28/2015)... PREVENT Life Safety, Inc., America’s premier provider ... their Southern California offices from Orange, California to Rancho ... I (letter I), Rancho Cucamonga, CA, 91730, is effective ... the significant growth the company has realized in the ... to provide superior life safety services, including fire damper ...
(Date:4/27/2015)... 2015 Medical Device Design Control , ... Ombu Enterprises**, June 16-17, 2015 – Chicago, IL , ... to a facility today, would the design control system ... is "maybe" or "no" … then very likely there ... a solution. , Take this important step. Enroll ...
Breaking Medicine News(10 mins):Health News:PracticeMatch to Host Physician Career Fair at Sheraton Colonial Boston North Hotel on May 6, 2015 2Health News:PracticeMatch to Host Physician Career Fair at Sheraton Colonial Boston North Hotel on May 6, 2015 3Health News:What Happens When We Judge Ourselves and Others? – A New Concept Introduced 2Health News:What Happens When We Judge Ourselves and Others? – A New Concept Introduced 3Health News:FCPX plugin developer Pixel Film Studios releases Protube Annotate plugin for Final Cut Pro X. 2Health News:PREVENT Life Safety Moves to New Office in Rancho Cucamonga 2Health News:FDAnews Announces: Medical Device Design Control: Implementing an Approach That Works, June 16-17, Chicago, IL 2Health News:FDAnews Announces: Medical Device Design Control: Implementing an Approach That Works, June 16-17, Chicago, IL 3Health News:FDAnews Announces: Medical Device Design Control: Implementing an Approach That Works, June 16-17, Chicago, IL 4
... smokers twice as likely to have strokes, they are almost ... to a study presented today at the Canadian Stroke Congress. ... stroke patients (264 smokers and 718 non-smokers) at an Ottawa ... who smoked was 58, compared to age 67 for non-smokers. ...
... in South Africa and Brazil become happier as they age. ... a developing country can significantly improve the wellbeing of its ... older people in South Africa and Brazil improved between 2002 ... enlightened social policies, according to a study from the New ...
... By Amanda Gardner HealthDay Reporter , FRIDAY, ... United States, which reached a record high last year, are ... So far this year, some 200 drug shortages have ... Jensen, associate director of the Drug Shortage Program within the ...
... using a 320 detector row CT scanner found that a ... sufficient enhancement in more than 96% of coronary segments," said ... and one of the authors of the study. ... equal to 80 milliliters of iopamidol," he said. The ...
... such as depression, obsessive-compulsive disorder or anxiety states ... of the neurotransmitter serotonin. Neurotransmitters are compounds that ... endings and activate the firing of neighboring neurons. ... transmission of nerve impulses. The serotonin transporter (SERT) ...
... women experience peer pressure to share sexual images via the ... Melbourne study has found. ,Sexting, is the practice of ... The study is one of the first academic investigations ... findings were presented to the 2011 Australasian Sexual Health Conference ...
Cached Medicine News:Health News:Smoking causes stroke to occur 2Health News:Older people are happier in Brazil and South Africa 2Health News:Drug Shortages Even Worse This Year: FDA 2Health News:Combating mood disorders 2Health News:'Sexting' driven by peer pressure 2
MP-250N and 300N is a new style power supply. It is a versatile microprocessor power supply for horizontal or vertical gel electrophoresis. The unit is programmable and offers constant voltage and co...
... ZOOM® Dual Power is a microprocessor-controlled ... both high voltage/low current and high ... voltage/low current section is ideal for ... DNA sequencing applications. The low voltage/high ...
... Power Supply is designed specifically ... extensive programming capabilities including eight ... for you to set to ... intuitive PowerEase interface is faster ...
PS2A200 Power supply is a high current power supply ideal for all types of electrophoresis blotting and short electrophoresis runs....
Medicine Products: