KV Pharmaceutical: No Major Disruption From Plant Fire
June 4, 2009 (FinancialWire) — KV Pharmaceutical Co. (NYSE: KV-B) said that an accidental fire on June 1 at the company’s pharmaceutical ingredient subsidiary did not affect any of the company’s finished product manufacturing, packaging, or distribution facilities, which are currently operating under a consent decree with the U.S. Food & Drug Administration.
The fire occurred at the company’s Particle Dynamics Inc. unit, which develops and markets specialty raw materials to other companies. KV, which is seeking a buyer for the unit, said it is currently assessing the damages to the facility as a result of the fire and is evaluating the impact, if any, that the fire will have on the company’s sale process for PDI.
PDI’s business is primarily contract manufactured, which is unaffected by the fire.
St. Louis-based KV Pharmaceutical is a specialty pharmaceutical company that develops, manufactures, markets, and acquires branded and generic and non-branded prescription pharmaceutical products.
The company markets its products through Ethex, a subsidiary that competes with branded products, and Ther-Rx, the company’s branded drug subsidiary.
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