As Forest Laboratories, Inc. (FRX) CEO Plans Retirement, the Feds Issue a New Subpoena
5/29/2013 8:17:19 AM
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Around the same time that Howard Solomon decided that he will soon retire as the long-standing ceo at Forest Laboratories, the drugmaker received a subpoena from the US Department of Justice concerning its Turdorza Pressair treatment for chronic obstructive pulmonary disease. Specifically, the subpoena arrived on May 6, and Solomon announced his pending departure on May 23. The timing may be coincidental and there was scant information released about the subpoena, other than that the drugmaker claims to be cooperating with the feds (see page 28). But the disclosure is an embarrassment for Forest Labs, given its recent history with marketing practices and the ensuing difficulties this caused Solomon two years ago.
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