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K-V Pharmaceutical Secures Financing Commitments Establishing Path Forward For Specialty Pharmaceutical Business
Date:11/17/2010

l to resume shipping of key women's healthcare branded products, including Clindesse® and Gynazole-1®, and is also preparing for the potential approval of Gestiva™ later this fiscal year.

Mr. Divis stated, "This additional funding will provide a critical bridge for K-V executing its strategic direction. This includes our commitment to compliance and quality in all that we do, solidifying the improved processes already in place and investing our resources behind our greatest opportunities.  Our employees have put K-V back on a clear path to successful commercialization of quality branded prescription pharmaceutical products, with a near-term focus that leverages our historical strengths in specialty therapeutic areas such as women's health." 

As the Company also continues to move forward in working toward the approval of additional generic products for re-launch, it has retained Jefferies & Company, Inc. to lead a process to evaluate strategic alternatives for its Generic Business, Nesher Pharmaceuticals, Inc.  Nesher has the rights to a portfolio of generic drug products that have historically held leadership positions within their targeted therapeutic categories and is currently in the midst of launching its potassium chloride extended release capsules.

Mr. Divis continued, "The agreement between K-V and the Lenders is a true partnership with aligned interests and a common goal of returning the Company to growth and profitability through focusing on our expertise in the branded marketplace.   We look forward to working closely with Centerbridge to accomplish both near-term milestones and to creating long-term value for our shareholders."

Marc S. Hermelin Resigns from Board of Directors

In other matters, the Board of Directors announced today that  Mr. Marc S. Hermelin has resigned as a Board Member.

As previously reported by the Company in its Securities and Exchang
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SOURCE K-V Pharmaceutical Company
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