UP!

FRX $12

FRX target price
12.00
0
0
Forest Laboratories Inc.
Type
Subsidiary
Traded as NYSE: FRX
Industry Pharmaceutical
Founded 1954; 63 years ago (1954)
Headquarters New York City, United States
Key people
Brenton L. Saunders (CEO)
Revenue Decrease $3.1 billion (2013)
Number of employees
5,600
Parent Allergan, plc
Subsidiaries Furiex Pharmaceuticals
Website http://www.frx.com

Forest Laboratories was an American pharmaceutical company headquartered in New York City. Forest Laboratories was known for licensing European pharmaceuticals for sale in the United States. The company had offices in St. Louis, Cincinnati, Jersey City, Oakland, Dublin, Kent and Paris.

In January 2014, Forest agreed to acquire Aptalis Pharma for $2.9 billion in order to gain access to treatments for gastrointestinal ailments and cystic fibrosis.

In February 2014, Actavis announced it would acquire Forest Laboratories for around $25 billion.

In April 2014, Forest announced it would acquire Furiex Pharmaceuticals for $1 billion in cash.

On July 1, 2014, Actavis (now Allergan, Plc, as of June 2015) completed its acquisition of Forest Laboratories.

Both Lexapro and Namenda are produced in bulk at the Forest plant in Dublin, Ireland, with secondary processing, such as bottling and blister-packing, being carried out in the U.S. at plants in New York and St. Louis.

Some of the products Forest Laboratories markets with its partners include:

In September 2010, Forest Laboratories, Inc. and Forest Pharmaceuticals, Inc. (a subsidiary of Forest Laboratories) agreed to pay more than US$313,000,000 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 drugs Celexa and Lexapro for unapproved pediatric uses in treating depression. The other drug-related charge was a misdemeanor charge of distributing the unapproved drug Levothroid in violation of the Food, Drug, and Cosmetic Act (FDCA). Certain of the criminal activities were revealed with the help of whistleblowers, who were slated to receive US$14,000,000 from the federal component of the settlement.

On 13 May 2010, ABC news and Bloomberg business news reported that the organization "dodges taxes" by moving its profits offshore with the currently legal practice known as transfer pricing. U.S. Senator Carl Levin of Michigan has called transfer pricing "the corporate equivalent to secret offshore accounts of individual tax dodgers".

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2014-06-18 Initiated Coverage Morgan Stanley Overweight
2014-05-27 Reiterated FBR Capital Mkt Perform $60 to $88
2014-05-27 Boost Price Target FBR & Co. Market Perform $60.00 to $88.00
2014-04-29 Reiterated Rating Cantor Fitzgerald Hold $89.00
2014-04-25 Downgrade SunTrust Buy to Neutral $94.00
2014-03-12 Downgrade Piper Jaffray Overweight to Neutral $91.00 to $96.00
2014-02-24 Downgrade Credit Suisse Outperform to Neutral $85.00 to $96.00
2014-02-20 Downgrade SunTrust Buy to Neutral
2014-02-19 Boost Price Target Barclays Equal Weight $74.00 to $90.00
2014-02-19 Downgrade CRT Capital Buy to Fair Value $78.00 to $93.00
2014-02-19 Downgrade Buckingham Research Buy to Neutral
2014-02-19 Downgrade Goldman Sachs Buy to Neutral $80.00 to $85.00
2014-02-19 Downgrade Mizuho Buy to Neutral $93.00
2014-02-18 Downgrade Cantor Fitzgerald Buy to Hold
2014-02-18 Upgrade Morgan Stanley Equal Weight to Overweight $86.00
2014-02-04 Upgrade JPMorgan Chase & Co. Neutral to Overweight $78.00
2014-01-17 Upgrade Credit Suisse Neutral to Outperform $60.00 to $85.00
2014-01-14 Boost Price Target Argus Buy $62.00 to $77.00
2014-01-09 Boost Price Target Mizuho Buy $70.00 to $90.00
2014-01-09 Boost Price Target CRT Capital Buy $63.00 to $78.00
2014-01-09 Upgrade Buckingham Research Neutral to Buy
2013-12-19 Upgrade Piper Jaffray Neutral to Overweight
2013-12-11 Reiterated Rating Argus Buy $62.00
2013-12-03 Boost Price Target Goldman Sachs $65.00
2013-12-03 Boost Price Target Barclays Equal Weight $39.00 to $50.00
2013-12-03 Upgrade SunTrust Neutral to Buy $50.00 to $72.00
2013-12-03 Boost Price Target FBR & Co. Outperform to Outperform $59.00 to $70.00
2013-11-26 Upgrade Piper Jaffray Underweight to Neutral $33.00 to $49.00
2013-11-22 Boost Price Target Mizuho Buy $50.00 to $59.00
2013-10-30 Initiated Coverage FBR & Co. Market Perform $48.00
2013-10-25 Upgrade BMO Capital Markets Underperform to Market Perform $27.00 to $33.00
2013-10-23 Boost Price Target Barclays Equal Weight $36.00 to $39.00
2013-10-08 Initiated Coverage Credit Suisse Neutral
2013-09-18 Initiated Coverage GARP Research Buy
2013-06-13 Reiterated Cantor Fitzgerald Buy $45 to $48
2013-06-05 Upgrade Argus Hold to Buy $46
2013-04-18 Reiterated Cantor Fitzgerald Buy $48 to $45
1970-01-01
2014-06-18 Initiated Coverage Morgan Stanley Overweight
2014-05-27 Reiterated FBR Capital Mkt Perform $60 to $88
2014-05-27 Boost Price Target FBR & Co. Market Perform $60.00 to $88.00
2014-04-29 Reiterated Rating Cantor Fitzgerald Hold $89.00
2014-04-25 Downgrade SunTrust Buy to Neutral $94.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In FRX 0 funds of 2213 total. Show all

Fund name Ticker shares

Major Shareholders

Name Relationship Total Shares Holding stocks
Forest Laboratories Holdings Ltd 1.25%  (3393466) FRX / TRVN /
Solomon David F SVP-CorpDev/Strategic Planning 0.06%  (166858) FRX / TRVN /
Weinstein Herschel S SVP General Counsel 0.04%  (103509) FRX /
Murdolo Frank J VP - Investor Relations 0.01%  (33343) FRX /