New CEO signals strategic changes at Forest Labs

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New CEO signals strategic changes at Forest Labs

By Zeba Siddiqui (Reuters) - Forest Laboratories Inc's new chief executive signaled strategic changes that will help the drugmaker focus on multiple new growth areas as it prepares to lose patent protection on another of its top-sellers. Forest shares gained 6 percent to reach a more than six-year high on Tuesday. Forest relied heavily on its antidepressant Lexapro for much of its sales until last year, when it lost protection on the drug. A subsequent hit to earnings invited criticism from billionaire investor Carl Icahn, Forest's second-largest shareholder. ...

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