$60 million in cash for K-V Pharmaceutical's generics subsidiary Print
By M.E.Garza   
Friday, 17 June 2011 08:55
Shares of K-V Pharmaceutical Company (NYSE:KV.A) are up in early trading Friday after the company announced that it has entered into a definitive agreement to divest Nesher Pharmaceuticals, Inc., its generics subsidiary.
K-V will divest it's generic business and assets to Zydus Pharmaceuticals (USA), Inc. for approximately $60 million in cash. The transaction is estimated to close during the second quarter of KV's 2012 fiscal year, subject to customary closing conditions.

According to the company, the divesture of the Company's generic business has been an important goal of KV's Board of Directors and Management team.  The completion of this divestiture is an important element of the Company's declared strategy of transitioning to a branded specialty pharmaceutical company focused on women's health.


Shares were up as high as $2.70 (+13.45%) in early trading on Friday.

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