Summary
NEW YORK (Reuters) - Billionaire investorhas taken a large stake in Forest Laboratories Inc. and plans to nominate four directors to its board as the U.S. drugmaker deals with steep revenue declines for its biggest products.
Forest disclosed Mr. Icahn's 6.5 percent stake and nominations to its nine-member board on Monday [June 13], and its shares rose 2 percent. Icahn representatives were not available for a comment on his plans.See the full content of this document
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Icahn Targets Drugmaker Forest Labs' Board
But some analysts say Forest Chief Executive Howard Solomon has failed to outline a convincing strategy to shore up its business ahead of impending patent expirations for its antidepressant Lexapro and Alzheimer's medicine Namenda.
"We have...See the full content of this document
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