ST. LOUIS, June 18 /PRNewswire-FirstCall/ -- K-V Pharmaceutical Company (NYSE: KVa/KVb), a specialty pharmaceutical company,announced that a meeting of the Board of Directors was held yesterday to nominate and appoint Ms. Ana Stancic, a new independent member, to the Company's Board of Directors.
At the meeting, Ms. Ana
Ms. Stancic replaces Mr. Terry Hatfield, whose resignation from the Board was effective upon Ms. Stancic's appointment.
Ana I. Stancic, CPA, MBA
Ms. Stancic is a CPA and is also a member of the Board of Directors of Champions Biotechnology Inc. Ms. Stancic serves on its Executive Committee and acts as Chair of its Audit Committee. She has over 20 years of diversified pharmaceutical business experience serving as a senior finance and operations executive in the life science industry, including specializing in the areas of corporate governance, SEC financial reporting, mergers and acquisitions, and cash management. She brings to the Board of Directors extensive knowledge and experience in long and short term strategic planning and the development and execution of goals and objectives to maximize shareholder value.
In her role as a member of the Board of Champions Biotechnology, Inc., she created a five-year strategic plan after conducting an in-depth analysis of the Company's operations. Prior to joining the Board of Champions Biotechnology, Ms. Stancic served as the Chief Financial Officer of Aureon Laboratories, a privately held life science company dedicated to enabling the advancement of predictive cancer treatment where her responsibilities included finance, treasury and tax compliance. During her 20 year business career, she has also served as the Executive Vice President and Chief Financial Officer of Omrix Biopharmaceuticals, Inc., prior to its acquisition by Johnson & Johnson; Senior Vice President and Principal Financial Officer of ImClone Systems prior to its acquisition by Eli Lilly & Company; Vice President and Corporate Controller of Savient Pharmaceuticals, Inc.; Vice President and Chief Accounting Officer of Ogden Corporation; Chief Financial Officer, Northeast Region of Omnicare, Inc.; and Senior Manager-Business Assurance with Pricewaterhouse Coopers.
Ms. Stancic received a Masters of Business Administration, Finance from Columbia University, a Masters of Business Administration, Management from Pace University, and a Bachelor of Science in Accounting, Cum Laude from Montclair State University. She is a Certified Public Accountant in the State of New Jersey and a Member of the American Institute of Certified Public Accountants.
Mr. Mark A. Dow, Chairman of the Audit Committee, stated, "The Board is pleased to announce the appointment of Ms. Stancic to the K-V Pharmaceutical Board of Directors. We believe that her financial and business background will be an asset to the organization during this time when the Board's primary focus is on compliance, quality and working diligently with management to gain FDA approval to return its products back to the market and to create shareholder value."
Ms. Stancic stated, "I look forward to joining my colleagues on the Board to work closely with management to continue the forward progress that they and the entire team at K-V have worked to achieve in recent months. "
About K-V Pharmaceutical Company
K-V Pharmaceutical Company is a fully-integrated specialty pharmaceutical company that develops, manufactures, markets and acquires technology-distinguished branded prescription products. The Company markets its technology-distinguished products through Ther-Rx Corporation, its branded drug subsidiary.
For further information about K-V Pharmaceutical Company, please visit the Company's website at www.kvpharmaceutical.com.
Safe Harbor Statement
The information in this release may contain various forward-looking statements when the meaning of the United States Private Securities Litigation Reform Act of 1995 ("PSLRA") and which may be based on or include assumptions concerning the Company's operations, future results and prospects. Such statements may be identified by the use of words like "plans", "expects", "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, include without limitation, statements about the number of preterm births for which Gestiva™ may be prescribed, its safety profile and side effects profile, and the Company's strategy for growth, product development, product launches regulatory approvals, market position, acquisitions, revenues, expenditures and other financial results, are forward-looking statements. All forward-looking statements are based on current expectations and are subject to risk and uncertainties. In connection with the "safe harbor" provisions, the Company 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 or not limited to) the following:
This discussion is not exhaustive, but is designed to highlight important factors that may impact the Company's forward-looking statements.
Because the factors referred to above, as well as the statements included elsewhere in this press release, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements made by the company or on the Company's behalf, you should not place undue reliance on any forward-looking statements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by the cautionary statements in this "Cautionary Note Regarding Forward-Looking Statements" and the risk factors that are included under Part I, Item 1A – "Risks Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2009 and Part II, Item 1A – "Risk Factors" in the Form 10-Q, as supplemented by the Company's subsequent SEC filings.
Further, any forward-looking statement speaks only as of the date on which it is made and the Company is under no obligation to update any of the forward-looking statements after the date of this press release. New factors emerge from time-to-time, and it is not possible for the Company to predict which factors will arise, when they will arise and/or their effects. In addition, the Company cannot assess the impact of each factor on its future business or financial condition or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
SOURCE K-V Pharmaceutical Company
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