KV Pharmaceutical Company
(NYSE: KVa/KVb) a fully integrated specialty pharmaceutical company that
develops, manufactures, acquires and markets technology differentiated
branded and generic/non-branded prescription pharmaceutical products,
announced today that NYSE Regulation, Inc. has granted KV’s request for a
trading extension through February 15, 2008 for its securities, subject to
ongoing reassessment. The extension was required under the NYSE’s rules
because the Company has been delayed in filing its fiscal 2007 Annual
Report on Form 10-K. The Company expects to have all outstanding quarterly
and annual SEC reports for fiscal 2007 filed with the SEC by February 15,
2008
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.kvpharmaceutical.com.
Safe Harbor
The information in this release may contain various forward-looking
statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (“PSLRA”) and which may be based on or
include assumptions concerning KV’s operations, future results and
prospects. Such statements may be identified by the use of words like
“plans”, “expect”, “aim”, “believe”, “projects”, “anticipates”, “commit”,
“intend”, “estimate”, “will”, “should”, “could” and other expressions that
indicate future events and trends.
All statements that address expectations or projections about the
future, including without limitation, statements about the Company’s
strategy for growth, product development, product launches, regulatory
approvals, market position, market share increases, acquisitions, revenues,
expenditures and other financial results, are forward-looking statements.
The Company can give no assurances that its outstanding SEC filings
discussed above will be made by February 15, 2008, that it will not request
the NYSE to agree to further extend the listing of the Company’s securities
beyond February 15, 2008, or, if requested, that the NYSE will grant a
further listing extension.
All forward-looking statements are based on current expectations and
are subject to risk and uncertainties. In connection with the “safe harbor”
provisions, KV provides the following cautionary statements identifying
important economic, political and technology factors, which among others,
could cause actual results or events to differ materially from those set
forth or implied by the forward-looking statements and related assumptions.
Such factors include (but are not limited to) the following: (1)
changes in the current and future business environment, including interest
rates and capital and consumer spending; (2) the difficulty of predicting
FDA approvals, including timing, and that any period of exclusivity may not
be realized; (3) acceptance and demand for new pharmaceutical products; (4)
the impact of competitive products and pricing, including as a result of
so-called authorized-generic drugs; (5) new product development and launch,
including the possibility that any product launch may be delayed or that
product acceptance may be less than anticipated; (6) reliance on key
strategic alliances; (7) the availability of raw materials; (8) the
regulatory environment, including regulatory agency and judicial actions
and changes in applicable law or regulations; (9) fluctuations in revenues;
(10) the difficulty of predicting international regulatory approval,
including timing; (11) the difficulty of predicting the pattern of
inventory movements by the Company’s customers; (12) the impact of
competitive response to the Company’s sales, marketing and strategic
efforts; (13) risks that the Company may not ultimately prevail in
litigation; (14) the proposed restatement of the Company’s financial
statements for fiscal periods from 1996 through 2006 and for the quarter
ended June 30, 2006, as well as completion of the Company’s financial
statements for the second, third and fourth quarters of fiscal 2007 and for
the full fiscal year ended March 31, 2007, and for the first and second
quarters of fiscal 2008; (15) actions by the Securities and Exchange
Commission and the Internal Revenue Service with respect to the Company’s
stock option grants and accounting practices; and (16) the risks detailed
from time-to-time in the Company’s filings with the Securities and Exchange
Commission.
This discussion is by no means exhaustive, but is designed to highlight
important factors that may impact the Company’s outlook. We are under no
obligation to update any of the forward-looking statements after the date
of this release.
SOURCE KV Pharmaceutical Company