ST. LOUIS, June 10 KV Pharmaceutical Company(NYSE: KVa/KVb), a fully integrated specialty pharmaceutical company thatdevelops, manufactures, acquires and markets technology-differentiated brandedproducts and generic/non-branded prescription pharmaceuticals, today reportedthat it has become aware of litigation filed by a smaller generic drugcompany, Lannett Company, Inc., challenging the patent rights associated withPrimaCare ONE(R), a prenatal vitamin product marketed by KV's Ther-Rx brandedpharmaceutical business unit. KV has not yet been served in the lawsuit.
"We are reviewing the claims in this lawsuit and we will defend this andany other challenge to our patent rights vigorously," stated Marc S. Hermelin,KV's Chairman of the Board and Chief Executive Officer. "Our long-standingexpertise in the development and marketing of both branded andgeneric/unbranded products positions us well to aggressively defend this typeof lawsuit, which is not uncommon in our industry. In addition, we willcontinue to pursue various other strategies to meet the needs of patients inthe therapeutic categories we serve with innovative and cost-effectiveproducts."
About KV Pharmaceutical Company
KV Pharmaceutical Company is a fully integrated specialty pharmaceuticalcompany that develops, manufactures, markets and acquires technology-distinguished branded and generic/non-branded prescription pharmaceuticalproducts. The Company markets its technology-distinguished products throughETHEX Corporation, a national leader in pharmaceuticals that compete withbranded products, and Ther-Rx Corporation, its branded prescriptionpharmaceutical subsidiary.
For further information about KV Pharmaceutical Company, please visit theCompany's corporate website at www.kvpharmaceutical.com.
The information in this release may contain various forward-lookingstatements within the meaning of the United States Private SecuritiesLitigation Reform Act of 1995 ("PSLRA") and which may be based on or includeassumptions concerning KV's operations, future results and prospects. Suchstatements 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 eventsand trends.
All statements that address expectations or projections about the future,including without limitation, statements about the Company's litigation,anticipated SEC filings, strategy for growth, product development, productlaunches, regulatory approvals, market position, market share increases,acquisitions, revenues, expenditures and other financial results, are forward-looking statements.
All forward-looking statements are based on current expectations and aresubject to risk and uncertainties. In connection with the "safe harbor"provisions, KV provides the following cautionary statements identifyingimportant economic, competitive, litigation, political and technology factors,which among others, could cause actual results or events to differ materiallyfrom those set forth or implied by the forward-looking statements and relatedassumptions.
Such factors include (but are not limited to) the following: (1) changesin the current and future business environment, including interest rates andcapital 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 ofcompetitive products and pricing, including as a result of so-calledauthorized-generic drugs; (5) new product development and launch, includingthe possibility that any product launch may be delayed or that productacceptance may be less than anticipated; (6) reliance on key strategicalliances; (7) the availability of raw