Company News: Forest Labs, Thermo Fisher Scientific
Forest Laboratories' request to investors to back company-selected board nominees, rather than the individual nominees of shareholder Carl Icahn, appears to have paid off. According to preliminary voting results of IVS Associates, Inc., which Forest maintains as the independent inspector of elections for the company's annual shareholders meetings, all 10 of the pharma's board nominees were elected by a majority. According to a company release, more than “226 million votes, or approximately 98% of the votes cast in the election, were voted for each of the six Forest nominees that had not been contested,” and the four remaining seats in contention were “elected by wide margins.”
Life science supply company Thermo Fisher Scientific Inc., reported today that it has completed its acquisition of blood test marketer and manufacturer Phadia, which will become a part of Thermo Fisher's Specialty Diagnostics business. Based in Uppsala, Sweden, Phadia currently has approximately 1,500 employees globally and had 2010 revenue of nearly $525 million. According to the company, Phadia is expected to add $190 million to Thermo Fisher's 2011 revenue results, with anticipated revenue growth of 12% versus 2010.