This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Forest Laboratories And Moksha8 Form Broad Strategic Alliance For Latin America

Forest Laboratories, Inc. (NYSE: FRX), an international pharmaceutical company, and moksha8, a leader in the commercialization of CNS medicines in Latin America, today announced that they have entered into a broad strategic alliance that will provide Forest with a commercial footprint in Latin America and give moksha8 access to Viibryd® and potentially other Forest products for the Latin American market.

The alliance includes an exclusive license from Forest to moksha8 to commercialize Viibryd®, and potentially other Forest products, in Latin America. In addition, Forest will provide up to $125 million in financing to moksha8 in several tranches over a two-year period, conditioned upon moksha8 achieving certain business goals. At the conclusion of this two-year period, Forest will have the option to acquire moksha8 in a merger transaction. The moksha8 shareholders will also have a put option at such time, provided that moksha8 has achieved certain business objectives. In connection with the alliance, moksha8 has expanded its license arrangement with Watson Pharmaceuticals, Inc. (NYSE: WPI), to extend moksha8’s rights to commercialize a portfolio of Watson CNS branded generic products in Brazil and Mexico and has bought out Watson’s minority equity position in moksha8. Other financial terms were not disclosed.

David Solomon, Senior Vice President of Corporate Development and Strategic Planning of Forest Laboratories Inc., said, “We are pleased to enter into this transaction with moksha8, which provides Forest access in a risk controlled manner to a high quality commercial operation in Latin America, one of the largest and fastest growing pharmaceutical markets in the world. Moksha8 is uniquely positioned to commercialize novel products such as Viibryd® in Latin America, and Forest will augment the moksha8 pipeline through our broad global partner network and business development reach. This alliance will in time contribute important incremental profits and growth to Forest and is consistent with Forest’s strategy to improve returns on our product investments through fiscally responsible international expansion. We are also pleased with the agreement between moksha8 and Watson, as Watson's high quality branded generic products are complementary to Viibryd® and the other novel brands Forest expects to provide to moksha8.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs