NEW YORK, Aug. 26 /PRNewswire-FirstCall/ -- Forest Laboratories, Inc.
(NYSE: FRX) announced today that pursuant to a joint status update entered
into the public docket in the United States District Court for the District of
Delaware, the Company and defendant Alphapharm Pty Ltd. have advised the Court
that they have signed a term sheet and are negotiating in good faith towards a
full resolution of their pending patent infringement dispute regarding U.S.
Patent Re. No. 34,712, which relates to Forest's Lexapro(R) (escitalopram
(Logo: http://www.newscom.com/cgi-bin/prnh/20001011/FORESTLOGO )
Forest and its licensing partner H. Lundbeck A/S are currently involved in
litigation relating to its patent on Lexapro(R) with Alphapharm, Ivax
Pharmaceuticals, Inc., and Cipla Ltd. The signed term sheet with Alphapharm
does not affect the status of Ivax or Cipla as defendants in the pending
The specific terms of a potential settlement with Alphapharm were not
disclosed and there can be no assurance that a final binding settlement can be
Forest remains confident in the strength of its patent, and a patent
infringement trial is currently scheduled to begin in the United States
District Court for the District of Delaware on December 5, 2005.
Except for the historical information contained herein, this release
contains "forward-looking statements" within the meaning of the Private
Securities Reform Act of 1995. These statements are subject to risks and
uncertainties that affect our business, including risk factors listed from
time to time in the Company's SEC reports, including the Company's Annual
Report on Form 10-K for the fiscal year ended March 31, 2005 and quarterly
report filed on Form 10-Q for the period ended June 30, 2005. Actual results
may differ materially from those projected.
SOURCE Forest Laboratories, Inc.
Charles E. Triano, Vice President - Investor Relations Forest Laboratories,
Inc., Tel: +1-212-224-6714, Charles.Triano@frx.com
-0- Aug/26/2005 16:00 GMT
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