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HomeHEALTHHoward Solomon, 94, Dies; His Business Success Had a Personal Connection

Howard Solomon, 94, Dies; His Business Success Had a Personal Connection

“Forest Pharmaceuticals deliberately chose to pursue corporate profits over its obligations to the F.D.A. and the American public,” Carmen Ortiz, the U.S. legal professional for Massachusetts, stated when the settlement was introduced.

The firm denied the allegations. In an announcement on the time, Mr. Solomon stated, “We remain dedicated to ensuring that we operate in full compliance with all laws and regulations.”

In 2011, Forest Labs received a proxy combat in opposition to the shareholder activist Carl C. Icahn, who had argued that the corporate had, amongst different issues, misplaced billions of {dollars} of shareholder worth over the earlier decade. Mr. Icahn continued to pursue Forest Labs with a second proxy combat in 2012, which ended with considered one of his nominees elected to the corporate’s board.

In a letter to Mr. Icahn throughout that combat, Mr. Solomon wrote: “Your discourse thus far has shown a striking lack of strategic ideas. Instead, it has been replete with wild and baseless accusations, innuendo and distortion of facts.”

Still, sooner or later, Mr. Solomon reached out to Mr. Icahn, and so they had a sequence of dinners.

“We got friendly,” Mr. Icahn stated in a telephone interview. “I thought he was a nice gentleman, a courtly guy.” He added: “I didn’t agree with the way he ran the business necessarily, but he was a nice guy who was thrilled with the outcome. He made a lot of money.”

In 2013, Mr. Solomon introduced his retirement as chief government and was changed by Brent Saunders, an government pleasant with Mr. Icahn. Then, in early 2014, Actavis (now Allergan) paid $25 billion to accumulate Forest Labs. Mr. Solomon, nonetheless the chairman, left after the acquisition and shaped a household funding agency together with his youthful son, David, who had been a Forest Labs government.

In addition to his sons, Mr. Solomon is survived by his spouse, Sarah Billinghurst Solomon, a former assistant normal supervisor of creative affairs on the Metropolitan Opera, and 5 grandchildren. His first spouse, Carolyn (Bower) Solomon, died in 1991.

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