US Ends Bid To Oust Forest Labs CEO Solomon

Law360, Wilmington (August 5, 2011, 4:06 PM EDT) -- The U.S. government on Friday dropped its efforts to force Forest Laboratories Inc. CEO Howard Solomon to step down over the drugmaker's past off-label marketing practices, dealing a blow to one of activist investor Carl Icahn's key arguments for overhauling the board.

Forest said in a statement that it had received a letter Friday afternoon from the Office of the Inspector General at the U.S. Department of Health and Human Services notifying Solomon that it had decided not to pursue his exclusion from federal healthcare programs....
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