NEW YORK, Dec. 17 Forest Laboratories, Inc. (NYSE: FRX), announced today that Howard Solomon, Chairman and Chief Executive Officer exercised stock options for 600,000 shares which are expiring in December 2008 having reached the end of their 10-year term. Mr. Solomon indicated his intent to hold all shares of Forest common stock obtained through the option exercise, net of those shares withheld by the Company to cover the cost associated with the option exercise and related tax payments.
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About Forest Laboratories
Forest Laboratories (NYSE: FRX) is a U.S.-based pharmaceutical company with a long track record of building partnerships and developing and marketing products that make a positive difference in people's lives. In addition to its well-established franchises in therapeutic areas of the central nervous and cardiovascular systems, Forest's current pipeline includes product candidates in all stages of development and across a wide range of therapeutic areas. The company is headquartered in New York, NY. To learn more about Forest Laboratories, visit www.FRX.com.
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 Report on Form 10-Q, and any subsequent SEC filings.
SOURCE Forest Laboratories, Inc.