Forest Laboratories Issues Statement Regarding Litigation with Icahn

Forest Laboratories, Inc. FRX today issued the following statement in connection with the Delaware Chancery Court's decision to allow entities affiliated with Carl Icahn to lift confidentiality restrictions on certain documents relating to the potential action by the Office of the Inspector General of the U.S. Department of Health and Human Services (HHS-OIG) to exclude Howard Solomon, Chairman and Chief Executive Officer of Forest, from participating in federal healthcare programs: "Mr. Icahn's decision to publicize the Delaware litigation is a sideshow and an effort to advance his self-serving agenda in his proxy contest. The documents to which he refers demonstrate what Forest has said all along: that Mr. Solomon has never been accused of any wrongdoing; that the potential exclusion is based solely on his ‘association with' Forest; and that HHS-OIG is considering embarking on an unprecedented and unjustified action. Icahn is wrong when he states Forest that does not have a plan to deal with the ‘contingency' of Mr. Solomon's potential exclusion. As previously announced, the Forest Board does have a succession plan. In the event that HHS-OIG decides to move forward and Mr. Solomon's legal challenges are unsuccessful, the succession plan will be implemented, Mr. Solomon will step aside and the Company will continue to do business with the federal government.