Forest Laboratories

The company was founded by Hans Lowey in 1956 as a small laboratory service company.

In 1967, the company became a public company via an initial public offering.

Ten years later, Howard Solomon became the chief executive officer of the company.{{cite news | url=https://www.bloomberg.com/news/articles/2002-05-26/a-ceo-and-his-son | title=A CEO and His Son | work=Bloomberg Businessweek | date=May 27, 2002}}

In 1984, the company acquired O'Neal Jones & Feldman for $8.8 million after a federal investigation resulted in one of its drugs being recalled.{{cite news | url=https://www.nytimes.com/1984/11/14/business/briefs-083709.html | title=BRIEFS | work=The New York Times | date=November 14, 1984}}{{cite news | url=http://www.stltoday.com/business/forest-s-push-for-profits-led-to-drugmaker-s-woes/article_0a3896c8-eacb-5a09-a486-a38509ad1518.html | title=Forest's push for profits led to drugmaker's woes | first=JIM | last=DOYLE | work=St. Louis Post-Dispatch | date=October 4, 2010}}

On July 17, 1998, the company received approval from the Food and Drug Administration for Celexa (Citalopram), an antidepressant.{{cite web | url=https://www.accessdata.fda.gov/drugsatfda_docs/nda/98/020822a.cfm | title=Forest Labs' longtime CEO Solomon to step down at year-end | publisher=Food and Drug Administration | date=July 17, 1998}}

In 2000, the company cut ties with Warner-Lambert for the marketing of Celexa after Warner-Lambert was acquired by Pfizer.{{cite news | url=https://money.cnn.com/2000/05/12/companies/celexa/ | title=Forest Labs cuts W-L tie | work=CNN | date=May 12, 2000}}

On August 16, 2002, the company received approval from the Food and Drug Administration for Lexapro (Escitalopram), an updated version of Celexa.{{cite news | url=https://www.nytimes.com/2002/08/16/business/company-news-forest-and-lundbeck-win-approval-for-antidepressant.html | title=FOREST AND LUNDBECK WIN APPROVAL FOR ANTIDEPRESSANT | agency=Bloomberg News | work=The New York Times | date=August 16, 2002}}

In 2013, Solomon retired as chief executive officer of the company.{{cite news | url=https://www.reuters.com/article/forest-ceo/forest-labs-longtime-ceo-solomon-to-step-down-at-year-end-idUSL2N0E40OY20130523 | title=Forest Labs' longtime CEO Solomon to step down at year-end | first=Caroline | last=Humer | work=Reuters | date=May 23, 2013}}

In February 2014, the company acquired Aptalis for $2.9 billion.{{cite press release | url=https://www.businesswire.com/news/home/20140203005647/en/Forest-Laboratories-Completes-2.9B-Acquisition-Aptalis | title=Forest Laboratories, Inc. Completes $2.9B Acquisition of Aptalis | publisher=Business Wire | date=February 3, 2014}}

On July 1, 2014, the company was acquired by Actavis (now Allergan).{{cite press release | url=https://www.prnewswire.com/news-releases/actavis-completes-forest-laboratories-acquisition-265360391.html | title=Actavis Completes Forest Laboratories Acquisition | publisher=PR Newswire | date=July 1, 2014}} The sale of the company came after pressure from Carl Icahn, the largest shareholder.

Some of the products Forest Laboratories marketed with its partners included:

• AeroBid (flunisolide inhaler) for allergic rhinitis
• Armour Thyroid (desiccated thyroid extract tablets) for hypothyroidism and pituitary Thyroid-stimulating hormone suppression
• Bystolic (nebivolol) for hypertension
• Campral (acamprosate) for maintenance of abstinence from alcohol in patients with alcohol dependence
• Celexa (citalopram) for depression (developed by Lundbeck)
• Cervidil (dinoprostone vaginal insert) for the initiation and/or continuation of cervical ripening in certain patients
• Combunox (oxycodone/ibuprofen) for the short-term management of acute moderate-to-severe pain
• Daliresp (roflumilast) for reduction of COPD exacerbations in patients with severe COPD
• Fetzima (levomilnacipran extended release) for depression
• Lexapro (escitalopram) for depression and generalized anxiety disorder (developed in cooperation with Lundbeck)
• Levothroid (levothyroxine) for hypothyroidism and pituitary TSH suppression
• Linzess (linaclotide) for constipation-predominant irritable bowel syndrome and functional constipation
• Monurol (fosfomycin) for certain urinary tract infections
• Namenda and Namenda XR (memantine) for moderate-to-severe Alzheimer's disease
• Savella (milnacipran) for fibromyalgia
• Sudocrem medicated cream for irritant diaper dermatitis
• Teflaro (ceftaroline fosamil) for acute bacterial skin and skin structure infections and community-acquired pneumonia caused by susceptible bacteria
• Tiazac (diltiazem hydrochloride) for hypertension and chronic stable angina pectoris
• Thyrolar (liotrix) for hypothyroidism and pituitary TSH suppression
• Tudorza Pressair (aclidinium bromide inhalation powder) for COPD
• Viibryd (vilazodone) for depression

In September 2010, the company agreed to pay $313 million to resolve allegations of civil and criminal liability relating to felony, obstruction of justice, and the illegal distribution and promotion of pharmaceuticals, charges to which it pled guilty. One of the pharmaceutical-related charges was a misdemeanor charge of illegally promoting the Celexa and Lexapro for unapproved uses in treating pediatric depression. The other drug-related charge was a misdemeanor charge of distributing the unapproved drug Levothroid in violation of the Federal Food, Drug, and Cosmetic Act. Certain of the criminal activities were revealed with the help of whistleblowers, who received $14 million from the settlement.{{cite press release | url=https://oig.hhs.gov/publications/docs/press/2011/factsheet_051011.asp | title=OIG Fact Sheet on Forest Laboratories, Inc., and the Inspector General's Exclusion Authorities | publisher=Office of Inspector General | date=May 10, 2011}}{{cite news | url=https://www.bizjournals.com/cincinnati/stories/2010/09/13/daily36.html | title=Forest Pharmaceuticals to plead guilty, pay $313M | first=Kelsey | last=Volkmann | work=American City Business Journals | date=September 15, 2010}}{{cite news | url=https://www.nytimes.com/2010/09/16/health/16drug.html | title=Forest, Maker of Celexa, Settles Marketing Claims | first=Natasha | last=Singer | work=The New York Times | date=September 15, 2010}}

Forest Laboratories has been accused of using unlawful deals to prevent generic versions of its Alzheimer's disease drug Namenda from entering the market.{{Cite web|title=AbbVie subsidiary Forest faces more antitrust litigation over Alzheimer's drug as judge rejects its bid to toss case|url=https://www.fiercepharma.com/pharma/abbvie-subsidiary-forest-faces-more-litigation-over-alzheimer-s-drug-as-judge-rejects|access-date=2022-02-06|website=FiercePharma|language=en}}{{Cite news|last=Pierson|first=Brendan|date=2021-06-11|title=AbbVie must face health plans' lawsuit over Alzheimer's drug|language=en|work=Reuters|url=https://www.reuters.com/legal/litigation/abbvie-must-face-health-plans-lawsuit-over-alzheimers-drug-2021-06-11/|access-date=2022-02-06}}

In 2010, the company was criticized for legally moving its profits offshore via transfer pricing.{{cite news | url=https://www.bloomberg.com/news/articles/2010-05-13/forest-laboratories-globe-trotting-profits | title=Forest Laboratories' Globe-Trotting Profits | first=Jesse | last=Drucker | work=Bloomberg Businessweek | date=May 13, 2010}}

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Category:Pharmaceutical companies established in 1956

Category:Defunct pharmaceutical companies of the United States

Category:Defunct companies based in New York City

Category:Companies formerly listed on the New York Stock Exchange

Category:1960s initial public offerings

Category:2014 mergers and acquisitions

Category:Pharmaceutical companies disestablished in 2014