Forest Laboratories Inc (FRX.N) said it would pay $1.2 billion to acquire Clinical Data Inc (CLDA.O), but the $30 per share offer was below the company's market value and caused Clinical shares to drop more than 8 percent on Tuesday. The deal will give Forest the newly approved antidepressant Viibryd as it seeks to address looming generic competition for its biggest product -- the antidepressant Lexapro -- which is set to lose U.S. patent protection early next year. Forest pledged additional payments of up to $6 a share if Viibryd achieves certain commercial milestones.
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