Forest Laboratories was founded in 1956 as a small laboratory service company, helping pharmaceutical companies to create new drugs.
In 1977 the company changed its focus to marketing new and generic drugs, as the then-CEO Howard Solomon wanted to explore this more profitable side of the business.
One notable acquisition was Aerobid, and asthma drug, in 1986. At the time of purchase Aerobid had total sales of $2.3 million. By 1991 Forest had made the drug very profitable, with yearly revenue of $30 million.
Today Forest Laboratories develops and manufactures such drugs as Namenda for Alzheimer’s, Savella for fibromyalgia, Lexapro the antidepressant, Bystolic for hypertension, as well as generic and OTC (over-the-counter) drugs.
Until 2014 Forest was publicly traded on the New York Stock Exchange under the ticker symbol FRX. In 2014 the company was acquired by Actavis in a $25 billion deal.
Forest Laboratories
Forest Laboratories was founded in 1956 as a small laboratory service company, helping pharmaceutical companies to create new drugs.
In 1977 the company changed its focus to marketing new and generic drugs, as the then-CEO Howard Solomon wanted to explore this more profitable side of the business.
One notable acquisition was Aerobid, and asthma drug, in 1986. At the time of purchase Aerobid had total sales of $2.3 million. By 1991 Forest had made the drug very profitable, with yearly revenue of $30 million.
History
Today Forest Laboratories develops and manufactures such drugs as Namenda for Alzheimer’s, Savella for fibromyalgia, Lexapro the antidepressant, Bystolic for hypertension, as well as generic and OTC (over-the-counter) drugs.
Until 2014 Forest was publicly traded on the New York Stock Exchange under the ticker symbol FRX. In 2014 the company was acquired by Actavis in a $25 billion deal.
