Clears Path Forward for K-V's Pursuit of
Chapter 11 Reorganization Plan
ST. LOUIS, Dec. 28, 2012 /PRNewswire/ -- K-V Pharmaceutical
Company ("K-V" or "the Company") today announced that the U. S. Bankruptcy Court
for the Southern District of New York, the Honorable Judge Allan L. Gropper presiding, approved
the Company's settlement agreement with Hologic, Inc. ("Hologic Settlement"),
and authorized the Company to enter into an $85 million debtor-in-possession ("DIP") financing to,
among other things, fund the settlement.
"The resolution of the Hologic litigation
is a major milestone in our restructuring. Now that it is resolved, K-V can
focus on completing all other necessary steps for confirmation of a plan of
reorganization and timely emergence from Chapter 11," said K-V President and CEO
Greg Divis. "We
are committed to our core women's health care business and continue to work
closely with our customers to advance the care of the patients we serve."