KV Pharmaceutical Reports Record Revenues for Fiscal 2008 Third Quarter and Year-to-Date on a Prelimi...(time the Company has experiencedthis typ...),Health

Date:2/27/2008

time the Company has experienced this type of event within its portfolio of auction rate securities. We understand that the failure of auctions is broad based and not limited to those securities held by the Company. Further, the Company cannot predict how long the current imbalance in the auction market will continue. As a result, for a period of time, the Company may or may not be able to liquidate some or all of its remaining auction-rate securities prior to their maturities at prices approximating their face amounts. The Company is currently evaluating the market for these securities to determine if impairment of the carrying value of the securities has occurred due to the loss of liquidity. Impairment of the carrying value of these securities could cause us to recognize a material charge to the Company's net income for the period ending March 31, 2008 or thereafter. However, the Company believes that based on its current cash, cash equivalents and marketable securities balances of $112 million (exclusive of auction rate securities) and its current borrowing capacity of $290 million under its credit facility, the current lack of liquidity in the auction rate market will not have a material impact on its ability to fund its operations or interfere with the Company's external growth plans.

About KV Pharmaceutical Company

KV Pharmaceutical Company is a fully integrated specialty pharmaceutical company that develops, manufactures, markets and acquires technology- distinguished branded and generic/non-branded prescription pharmaceutical products. The Company markets its technology-distinguished products through ETHEX Corporation, a national leader in pharmaceuticals that compete with branded products, and Ther-Rx Corporation, its branded prescription pharmaceutical subsidiary.

For further information about KV Pharmaceutical Company, please visit the Company's corporate website at http://www.
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SOURCE KV Pharmaceutical Company Copyright©2008 PR Newswire. All rights reserved

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