ST. LOUIS, June 17, 2011 /PRNewswire/ -- K-V Pharmaceutical Company (NYSE: KVa/KVb) announced today that it has entered into a definitive agreement to divest Nesher Pharmaceuticals, Inc., its generics subsidiary, and the Company's generic business and assets to Zydus Pharmaceuticals (USA), Inc. for approximately $60 million in cash. The transaction is estimated to close during the second quarter of KV's 2012 fiscal year, subject to customary closing conditions.
The divesture of the Company's generic business has been an important goal of KV's Board of Directors and Management team. The completion of this divestiture is an important element of the Company's declared strategy of transitioning to a branded specialty pharmaceutical company focused on women's health.
Jefferies & Company, Inc. acted as exclusive financial advisor to K-V in this transaction.
About K-V Pharmaceutical Company
K-V Pharmaceutical Company is a specialty branded pharmaceutical company with a primary focus in the area of women's healthcare. As such, we are committed to advancing the health of women across all the stages of their lives.
For further information about K-V Pharmaceutical Company, please visit the Company's corporate Website at www.kvpharmaceutical.com.
Cautionary Note Regarding Forward-looking Statements
This press release contains various forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (the "PSLRA") and that may be based on or include assumptions concerning the operations, future results and prospects of the Company. Such statements may be identified by the use of words like "plan," "expect," "aim," "believe," "project," "anticipate," "commit," "intend," "estimate," "will," "should," "could," "potential" and other expressions that indicate future events and trends.
|SOURCE K-V Pharmaceutical Company|
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