UPDATE 1-Forest Labs in deal to buy back $500 mln of its shares

* Deal with Morgan Stanley

* Says deal to be completed by Q4

June 9 (BestGrowthStock) – Forest Laboratories Inc (FRX.N: ) said it
has entered into a deal with Morgan Stanley & Co (MS.N: ) to buy
back about $500 million of its common shares.

Forest said it will buy these shares under its 50 million
share buyback program announced in May.

The deal is expected to be completed no later than the
fourth quarter ending March 31, 2011, the company said in a
statement.

The company did not specify the number of shares to be
repurchased.

Shares of the company closed at $24.36 Tuesday on the New
York Stock Exchange.

Stock Market Investing

(Reporting by Shailesh Kuber in Bangalore; Editing by Jarshad
Kakkrakandy)

UPDATE 1-Forest Labs in deal to buy back $500 mln of its shares