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Forest Celexa

Executive Summary

"If Forest terminates Warner-Lambert's co-promotion agreement because of [a Warner-Lambert] merger, under no circumstances would Forest be obligated to make payments until 2004," Forest Chairman Howard Solomon says in a Jan. 27 letter to "The Pink Sheet." Warner-Lambert told a Jan. 19 teleconference that "even if there is that change of control and they exercise their option, there's a period of step down payments that take place through the balance of the six year agreement" (1"The Pink Sheet" Jan. 24, p. 14). Forest and Warner-Lambert are in discussions to end the co-promotion agreement for the antidepressant

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