Forest Laboratories

Dr. Lawrence S. Olanoff, president and chief operating officer of Forest Laboratories, will retire effective December 31, 2010. Dr. Olanoff will continue as a director of the company and will become senior scientific advisor to Forest in order to continue his involvement in the company’s drug development activities. Howard Solomon, chairman and chief executive officer of Forest, will take on the role of president.

Additionally, the company has made several executive management promotions. Elaine Hochberg has been promoted to executive vice president and chief commercial officer. Ms. Hochberg will also be responsible for the trade and institutional sales groups and the general field sales force. She will continue to report to Mr. Solomon.

Frank Perier, Jr., has been promoted to executive vice president finance and administration and chief financial officer. In addition, the company’s Human Resources and legal groups will report to him. Mr. Perier reports to Mr. Solomon.

Dr. Marco Taglietti has been promoted to senior vice president R&D and president, Forest Research Institute (FRI), and will also be responsible for the Cerexa anti-infectives subsidiary. He will report to Mr. Solomon.

David Solomon has been promoted to senior vice president corporate development and strategic planning. In addition, he will be responsible for the informatics and manufacturing operations. He will report to Mr. Solomon.

Kevin Walsh has been promoted to senior vice president and director of operations. He is presently responsible for information systems and manufacturing operations, including all supply chain, technology transfer and facilities engineering functions. In addition, he will be responsible for corporate compliance.

Jerome Lynch has been promoted to senior vice president sales of Forest Laboratories. He is responsible for all territory and specialty sales, and sales analytics as well as sales training. He will report to Ms. Hochberg.

Howard Solomon remarked, “I am delighted to announce the well-deserved promotions of these six multi-talented experienced professionals, who cumulatively represent decades of management experience at Forest and within the pharmaceutical industry. They are well equipped to lead our business activities into the future, past the expected patent expiries of Lexapro and Namenda and through the continued development and launch of our key pipeline products, as well as the acquisition of new products as we go forward.”

He added, “On the other hand, we understand Larry’s desire to have more time to spend with his family and in academic pursuits. During Larry’s tenure, he created and built the Forest Research Institute, which has produced our successful marketed product portfolio, as well as our robust development pipeline. Over the years Larry and I have developed a warm friendship, which means very much to me. It is important that he will continue his involvement in our scientific activities and business development evaluations, as well as his board membership.”