Forest Laboratories Appoints New Independent Director

  Forest Laboratories Appoints New Independent Director

             Vincent J. Intrieri Joins Expanded, 11-Member Board

Business Wire

NEW YORK -- June 11, 2013

Forest Laboratories, Inc. (NYSE: FRX) today announced that, pursuant to an
agreement with Carl C. Icahn and affiliated entities, its Board has appointed
Vincent J. Intrieri as a new independent member of its Board of Directors. As
part of the agreement, Mr. Icahn has agreed to vote the shares that he
controls in support of Forest’s 11 director nominees and not run a proxy
contest at the Company’s 2013 annual meeting and to certain standstill
restrictions that will be in effect generally so long as Mr. Intrieri serves
on the Board. Mr. Intrieri will become the fifth member of the independent
committee overseeing succession planning.

Forest’s nominees for election at the 2013 Annual Meeting will include current
directors: Nesli Basgoz, M.D.; Christopher J. Coughlin; Kenneth E. Goodman;
Pierre Legault; 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; as well as Mr. Intrieri.

Howard Solomon, Chairman, Chief Executive Officer and President of Forest
said, “We are pleased that Mr. Intrieri has joined our Board of Directors and
believe that, given his significant financial expertise and board experience,
he will offer a new perspective and valuable insights that will further
strengthen our diverse and independent board. We look forward to working with
him in a constructive manner to benefit all of our shareholders.”

Carl C. Icahn said, “We are happy to have been able to avoid the necessity for
a distracting fight so that management’s energies, as well as our own, can be
focused on more productive purposes. We are pleased that between last year’s
proxy contest and this agreement, Forest’s 11-person Board now has two
additional independent voices. We have a very strong track record of helping
to strongly enhance shareholder value through minority board representation. I
have spoken to Howard Solomon several times in the last month and do not
believe that our views concerning Forest are that far apart. In light of
Forest’s attractive emerging product line, we both believe that we can work
together to bring major changes that will enhance shareholder value. We look
forward to a constructive relationship with the Board and are excited about
Forest’s future prospects.”

Vincent J. Intrieri, said, “I am excited to join the Forest Board. Forest has
built an unrivaled late-stage pipeline and portfolio of new products and has
truly exceptional opportunities ahead. I look forward to working with the
Board and management to drive performance and increase shareholder value.”

Mr. Solomon added, “In the past year, Forest has continued to deliver on its
commitment to advance its industry-leading portfolio of late-stage pipeline
and newly-launched products. Our two most recent product launches – Tudorza
and Linzess – are performing very well and in line with our expectations, and
sales of our other recently launched products – Bystolic, Savella, Teflaro,
Daliresp and Viibryd – continue to gain momentum. In addition, later this
year, we will hear back from the FDA on the status of our New Drug
Applications for levomilnacipran and cariprazine in July and November,
respectively. We have a strong, diverse Board in place committed to building
sustainable momentum and value for shareholders, and I am confident we can
continue to advance our pipeline and further position Forest for future growth
and success.”

The agreement between Forest and Mr. Icahn will be filed on Form 8-K with the
Securities and Exchange Commission.

Biography of Vincent J. Intrieri

Vincent J. Intrieri, 56, has been employed by Icahn-related entities since
October 1998 in various investment-related capacities. He currently serves on
the boards of CVR Energy, Inc., CVR Refining, LP, Navistar International
Corporation, Chesapeake Energy Corporation and Federal−Mogul Corporation. He
is a former director of Icahn Enterprises L.P., Motorola Solutions, Inc., Lear
Corporation, WestPoint International, Inc., National Energy Group, Inc., XO
Holdings LLC, American Railcar Industries, Inc., PSC Metals, Inc. and Viskase
Companies, Inc. Mr. Intrieri received his Bachelor’s degree in Accounting from
The Pennsylvania State University and was a certified public accountant.

About Forest Laboratories

Forest Laboratories' (NYSE: FRX) longstanding global partnerships and track
record developing and marketing pharmaceutical products in the United States
have yielded its well-established central nervous system and cardiovascular
franchises and innovations in anti-infective, respiratory, gastrointestinal
and pain management medicine. Forest’s pipeline, the most robust in its
history, includes product candidates in all stages of development across a
wide range of therapeutic areas. The Company is headquartered in New York, NY.
To learn more, visit

Forward-Looking Information

Except for the historical information contained herein, this release 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, and the risk factors listed from time to time in Forest
Laboratories’ Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and
any subsequent SEC filings. Forest assumes no obligation to update
forward-looking statements contained in this release to reflect new
information or future events or developments.

Important Additional Information

The Company intends to file a proxy statement with the Securities and Exchange
Commission (the “SEC”) in connection with the solicitation of proxies for the
2013 Annual Meeting (the “Proxy Statement”). Details concerning the nominees
of the Company’s Board of Directors for election at the 2013 Annual Meeting
will be included in the Proxy Statement. The Company and its directors and
executive officers may be deemed to participate in the solicitation of proxies
in respect of the 2013 Annual Meeting. Additional information regarding the
interests of such potential participants will be included in the definitive
will be able to obtain a copy of the definitive proxy statement and other
documents filed by the Company free of charge from the SEC’s website, The Company’s shareholders will also be able to obtain, without
charge, a copy of the definitive Proxy Statement and other relevant filed
documents by directing a request by mail to Forest Laboratories, Inc., 909
Third Avenue, New York, NY 10022, or from the Company’s website,


Forest Laboratories, Inc.
Frank J. Murdolo, 1-212-224-6714
Vice President - Investor Relations
Sard Verbinnen & Co
Hugh Burns / Lesley Bogdanow / Pamela Blum
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