Newly acquired Forest Labs lays off 190 employees in Missouri
- Actavis acquired Forest Laboratories for $25 billion in a stock-and-cash deal. The deal was announced in February and completed at the beginning of this month.
- A week after the acquisition was completed, Actavis announced closure of all Forest operations in Earth City, MO. This move will affect almost 200 employees.
- All activities in the Earth City location will be transferred to the Gurnee, Illinois facility.
With the acquisition of Forest, Actavis has gained a large-scale sales force and a presence in US primary care doctors’ offices. It has also gained the ability to make far-reaching business decisions, including facility closures. An important part of the backstory here is the continued fallout from litigation related to Forest’s illegal marketing activities related to Celexa and Lexapro---a move that has cost the company more than $300 million in settlements and $10.4 million in settlements.
- St. Louis Post Dispatch Actavis to close newly acquired Earth City operations