Forest announces new share repurchase program

By Elaine Rigoli

Tampa, Fla., May 18 - Forest Laboratories, Inc. announced that its board has approved a new share repurchase program for up to an additional 25 million common shares.

The authorization will become effective immediately and has no set expiration date. The company expects to make the repurchases from time to time in the open market depending on market conditions, according to a news release.

The new program is in addition to two previously announced and completed share repurchase programs: a 20 million share repurchase program announced July 20, 2004 and expanded to 30 million shares Dec. 14, 2004 as well as a 25 million share repurchase program announced May 10.

Forest is a New York-based pharmaceutical company.

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