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Covington Reps Forest Labs In $1.2B Clinical Data Deal

Law360 (February 22, 2011, 2:12 PM EST) -- Forest Laboratories Inc. announced Tuesday that it would purchase Clinical Data Inc. for $1.2 billion, aiming to add Clinical Data's newly approved drug Viibryd to its portfolio of blockbuster antidepressants.

New York-based Forest, which makes antidepressants Lexapro and Celexa, is proposing to pay Clinical Data $30 in cash per share to buy up all outstanding shares of its common stock, along with contingent consideration of up to an additional $6 per share that will be paid when and if Viibryd's net U.S. sales meet or exceed...
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