December 2, 2013

Forest Labs plans to cut $500M in spending

Forest Laboratories says it plans to cut $500 million in costs in about two years, and also plans to buy back up to $1 billion in company stock.

The drugmaker also acquired the U.S. marketing rights to Saphris, a Merck & Co. drug used to treat schizophrenia and bipolar mania.

The moves come less than three months after former Bausch & Lomb leader Brenton Saunders became president and CEO of Forest, replacing longtime CEO Howard Solomon.

The largest portion of the cuts will come from its research and development operations. The company expects to save $110 million from job cuts, but did not say how many positions would be cut.

Shares of Forest Laboratories Inc. rose $2.39, or 4.7 percent, to $53.70 in morning trading.

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Forest Labs plans to cut $500M in spending

Active military service may heighten women's risk of having low birthweight babies

Significant global variation in COVID-19 guidelines: Most countries recommend at least one treatment that doesn't work

Study connects enjoyment of nature to lower inflammation levels

Bacteria in the intestine that change in response to inflammation could have an impact on our immune system

Researchers develop deep-learning model capable of predicting cardiac arrhythmia 30 minutes before it happens

Improving cancer immunotherapy by prolonging T-cell survival

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Forest Labs plans to cut $500M in spending

Active military service may heighten women's risk of having low birthweight babies

Significant global variation in COVID-19 guidelines: Most countries recommend at least one treatment that doesn't work

Study connects enjoyment of nature to lower inflammation levels

Bacteria in the intestine that change in response to inflammation could have an impact on our immune system

Researchers develop deep-learning model capable of predicting cardiac arrhythmia 30 minutes before it happens

Improving cancer immunotherapy by prolonging T-cell survival

Eye-opener: Pupils enlarge when people focus on tasks

Study finds COVID-19 pandemic led to some, but not many, developmental milestone delays in infants and young children

Common antibiotic may be helpful in fighting respiratory viral infections

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