Forest’s Solomon Holding Firm As Icahn Presses Second Consecutive Proxy Fight
This article was originally published in The Pink Sheet Daily
In July 9 letter to Icahn, Forest CEO asks why the activist investor hasn’t offered strategic ideas, rather than threaten another fight over board control.
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Dissident shareholder Carl Icahn will have some influence on the succession process as the New York drugmaker seeks a replacement for its retiring octogenarian CEO. Forest still needs to compensate for the loss of blockbuster antidepressant Lexapro, and could consider a sale or dramatic restructuring.
Primary care-focused pharma reports that preliminary voting results show former OSI executive Pierre Legault was elected to the Forest board, replacing long-time member and outgoing compensation committee Chairman Dan Goldwasser.
Forest Laboratories’ sales representatives will combine marketing for aclidinium, which FDA approved July 24, with their education efforts for Daliresp for COPD exacerbations.