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May 23, 2013

Forest Labs president and CEO Howard Solomon will retire at the end of 2013, the company said.

NEW YORK — Forest Labs president and CEO Howard Solomon will retire at the end of 2013, the company said.

The drug maker announced that Solomon would still remain as chairman through the 2014 annual meeting, retaining the title of chairman emeritus after a replacement is elected. Solomon has served as CEO since 1977, chairman since 1998 and president since 2010.

An independent committee of the company's board of directors is looking within and outside the company for candidates to replace Solomon and plans to announce a successor before the end of the year.

November 21, 2011

Drug maker Gilead Sciences will acquire Pharmasset for $11 billion, or $137 per share, Gilead said Monday.

FOSTER CITY, Calif. — Drug maker Gilead Sciences will acquire Pharmasset for $11 billion, or $137 per share, Gilead said Monday.

Pharmasset, based in Princeton, N.J., is a drug maker that currently has three treatments for hepatitis C undergoing clinical trials, including PSI-7977, which is in late-stage development.