Forest Laboratories/Clinical Data
On February 22, 2011, Forest Laboratories, Inc. (NYSE: FRX) and Clinical Data, Inc. (Nasdaq: CLDA), announced that they have entered into an agreement whereby Forest will acquire all outstanding shares of Clinical Data for $30.00 per share in cash plus contingent consideration of up to $6.00 per share that may be paid upon achievement of certain commercial milestones related to Viibryd.
Total consideration on the deal is $1.2 billion.
Closing is expected in Q211. Forest plans to launch Viibryd in the U.S. during H211.
The transaction is expected to be dilutive, net of synergies, to Forest's earnings per share for the next three fiscal years, with earnings per share dilution in the range of ($0.55) to ($0.65) in FY12.
Morgan Stanley is acting as financial advisor to Forest and Covington & Burling LLP is acting as legal counsel. J.P. Morgan Securities LLC is acting as financial advisor to Clinical Data and Cooley LLP is acting as legal counsel.
Total consideration on the deal is $1.2 billion.
Closing is expected in Q211. Forest plans to launch Viibryd in the U.S. during H211.
The transaction is expected to be dilutive, net of synergies, to Forest's earnings per share for the next three fiscal years, with earnings per share dilution in the range of ($0.55) to ($0.65) in FY12.
Morgan Stanley is acting as financial advisor to Forest and Covington & Burling LLP is acting as legal counsel. J.P. Morgan Securities LLC is acting as financial advisor to Clinical Data and Cooley LLP is acting as legal counsel.
View Older Stories
-
Gain Therapeutics (GANX) Appoints C. Evan Ballantyne as CFO
-
Gain Therapeutics Appoints C. Evan Ballantyne as Chief Financial Officer
-
Gain Therapeutics Appoints C. Evan Ballantyne as Chief Financial Officer
-
Lipidio Pharmaceuticals Announces Close of Series A Extension Financing, Bringing Total Round to Over $20M
-
Clinovo taps Life Sciences executive Nandish Poluru as its next Chief Executive Officer
-
ProJenX Names Life Sciences Industry Veteran Stan E. Abel as CEO
-
Syndax Pharmaceuticals (SNDX) Announces CEO Transition
-
Syndax Pharmaceuticals Announces Transition of Michael A. Metzger to Chief Executive Officer; Briggs W. Morrison, M.D., to Assume Role of President, Head of Research & Development
-
Immunovant Appoints Mark Levine as Chief Legal Officer
-
OncXerna Therapeutics Appoints C. Evan Ballantyne as Chief Financial Officer
-
Neurogene Appoints Industry Leaders Dr. Sukumar Nagendran and Dr. Serge Stankovic to Board of Directors
-
Syndax Pharmaceuticals (SNDX) Appoints Jennifer Jarrett and William Meury to Board Succeeding Luke Evnin Ph.D. and Henry Chen
-
Syndax Announces Changes to its Board of Directors
-
Spero Therapeutics Appoints Ian A. Critchley, Ph.D., as Head of Clinical Microbiology
-
Allergan to Present Data from its Anti-Infectives Portfolio at ASM Microbe 2017 in New Orleans
-
Adamas Reports Second Quarter 2016 Financial Results
-
Allergan Reports Strong First Quarter 2016 Continuing Operations Performance with 48% Increase in Net Revenue to $3.8 Billion and 15% Growth in Non-GAAP Diluted EPS to $3.04
-
Helocyte Announces Corporate and Clinical Milestones
-
Allergan Reinforces Commitment to Anti-Infective Innovation with 20 Abstracts Highlighted at ECCMID 2016
-
Allergan Reports Exceptional Fourth Quarter 2015 Continuing Operations Performance with 74% Increase in Net Revenue to $4.2 Billion and 33% Growth in Non-GAAP Diluted EPS to $3.41
-
ZIOPHARM Appoints Scott Tarriff to Its Board of Directors
-
Allergan Announces Agreement with Amneal Related to NAMENDA XR® Patent Litigation
-
Allergan Announces FDA Approval of Updated Label for TEFLARO® (ceftaroline fosamil)
-
Eleven Biotherapeutics Announces Promotions of Gary Sternberg, MD, MBA to Chief Business Officer and John McCabe, CPA to Senior Vice President, Finance
-
Allergan Reports Exceptional Second Quarter 2015 Performance with 116% Increase in Net Revenue to $5.76 Billion and 29% Growth in Non-GAAP EPS to $4.41
-
Eleven Biotherapeutics (EBIO) CFO Resigns
-
Eleven Biotherapeutics Announces Executive Change
-
Agenus (AGEN) Appoints New CFO
-
Agenus Appoints C. Evan Ballantyne as Chief Financial Officer
-
Health Connexions™ joins hands with FDASmart to help emerging science accelerate success with US FDA regulatory compliance and registrations
-
Syndax Appoints Dr. Briggs W. Morrison as Chief Executive Officer and Michael A. Metzger as President and Chief Operating Officer
-
ZIOPHARM Announces Caesar J. Belbel, Chief Legal Officer, Appointed Chief Operating Officer
-
ZIOPHARM Announces Caesar J. Belbel, Chief Legal Officer, Appointed Chief Operating Officer
-
Actavis Reports Exceptional Performance in First Quarter 2015 with 59% Increase in Net Revenue to $4.2 Billion and 23% Growth in Non-GAAP EPS to $4.30
-
Ironwood Pharmaceuticals Provides First Quarter 2015 Investor Update
-
Blend Therapeutics Appoints Drew Fromkin as President and Chief Executive Officer
-
Cortendo Reports Results and Activities for the Fourth Quarter and Full Year 2014
-
FDA Approves AEROSPAN, Forest Labs (FRX) Assumes Development and Commercialization
-
Icahn Highlights Qualifications on Board Nominees in Response to Forest Labs (FRX)
-
Forest Labs (FRX) Sends Out Shareholder Letter; Recommends Voting for 'Qualified' Director Slate
-
Forest Labs' (FRX) CEO Soloman Sends Letter to Icahn; Calls Board Nominations 'Puzzling'
-
Forest Labs (FRX) Completes Clinical Data Acquisition
-
Forest (FRX) Reports Successful Tender for Clinical Data (CLDA)
-
Forest Labs (FRX) Extends Deadline for Acquisition of Clinical Data (CLDA); Amends Merger Agreement
-
Forest (FRX) Commences Tender for Clinical Data (CLDA)
-
Needham & Company Maintains a 'Hold' on Forest Laboratories (FRX); Clinical Data Deal Brings Solid SSRI Entrant Viibryd Though “Too Little Too Late” & Undifferentiated Profile Concerns
-
Wedbush Downgrades Clinical Data (CLDA) to Neutral; Forest Buying CLDA for $30 Plus CVR,

