"Icahn nominated Eric Ende, Andrew Fromkin, Pierre Legault, and Daniel Ninivaggi for spots on the Forest Labs' 10-member board of directors."
"Fromkin is the former president and CEO of Clinical Data Inc. Forest Labs acquired Clinical Data in 2011, and in the deal it gained Clinical Data's recently approved antidepressant Viibryd."
FRX spent $1.3B to acquire Clinical Data for Viibryd. However, the former CEO of Clinical Data is Ichan's man now. Viibryd sales was $24.9M for the quarter of Mar12 and estimated to be $28.5M for the quarter of Jun12. The consensus of Viibryd's peak sales is only $400M someting. With 21.44% profit margin, the peak annual-profit from Viibryd whould be peaked around $83M. FRX may never fills the $1.3B blackhole.
BTW, the consensus EPS is $0.27 for Q-Jun12, $0.07 for Q-Jun12, and $0.79 for FY-Mar13. Some analysts estimate RED EPS for Q-Jun12.
FRX is in trouble (Mr. Ichan wants to check FRX's book over), but uncle Howdy never admits it!!!!