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Forest Announces Certified Annual Meeting Results

^{Published on 2011-08-24 05:45:58 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Forest Laboratories, Inc. (NYSE: FRX) (aForesta) today announced that IVS Associates, Inc., the independent inspector of elections, has certified the final voting results for the Companya™s Annual Meeting, which was held on August 18, 2011. The certified results, which are consistent with the preliminary results announced on August 22, 2011, confirm that each of the ten Company nominees was elected to the Forest Board of Directors by a substantial margin. Foresta™s ten directors are: Nesli Basgoz, M.D.; Christopher J. Coughlin; Dan L. Goldwasser; Kenneth E. Goodman; Gerald M. Lieberman; Lawrence S. Olanoff, M.D., Ph.D.; Lester B. Salans, M.D.; Brenton L. Saunders; Howard Solomon; and Peter J. Zimetbaum, M.D.

"On behalf of the entire Board, I wish to thank our shareholders for their support. I look forward to working with the highly qualified group of directors we have assembled to continue building and delivering value for Foresta™s shareholders."

As previously disclosed, more than 226 million votes, or approximately 98% of the votes cast in the election, were voted for each of the six Forest nominees that had not been contested. The four directors running for contested seats were also elected by wide margins. Mr. Goodman and Mr. Solomon received more than 169 million and 165 million votes, respectively, and Messrs. Goldwasser and Salans each received over 152 million votes for their election.

In addition, the certified results confirm that Forest shareholders approved the advisory vote on executive compensation, supported an annual frequency for the advisory vote on executive compensation, and ratified the appointment of BDO USA, LLP as the Companya™s independent registered public accountants.

Howard Solomon, Chairman and Chief Executive Officer of Forest, stated, aOn behalf of the entire Board, I wish to thank our shareholders for their support. I look forward to working with the highly qualified group of directors we have assembled to continue building and delivering value for Foresta™s shareholders.a

The certified results were as follows:

Forward Looking Information

Except for the historical information contained herein, this document 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, changes in laws and regulations affecting the healthcare industry and the risk factors listed from time to time in Forest Laboratoriesa™ Annual Reports on Form 10-K (including the Annual Report on Form 10-K for the fiscal year ended March 31, 2011), Quarterly Reports on Form 10-Q, and any subsequent SEC filings.