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Will Saunders Bring Transformation To Forest?

 
• By Lisa LaMotta

The specialty pharma long has been scrutinized for its decisions regarding the patent cliff and business development. Now, a new CEO will have the chance to keep the company on its current course or mirror the transformations he’s put in motion at other companies.

Forest Laboratories Inc. will be under the care of a new leader come Oct. 1, when former Bausch & Lomb Inc. CEO and Forest board member Brenton Saunders takes the reins. For some investors, the changing of the guard at the specialty pharma signals a new direction for the company, even if management has yet to announce a change in strategy; meanwhile others see the appointment of an insider as just more of the same.

The way Forest is run has been under scrutiny for the last few years as investors have attempted to oust aging CEO Howard Solomon with little success, even as the top-line was pressured by generic competition to blockbuster antidepressant Lexapro (escitalopram). Pipeline development also has been criticized. Yet, finally, time did what investors could not – 86-year-old Solomon announced his pending retirement in May

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