K-V Pharmaceutical Files for Bankruptcy Protection
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K-V Pharmaceutical Co., a provider of women’s health-care products, filed for bankruptcy after it said lax federal enforcement and state Medicaid restrictions prevented it from attaining the “full value” of a medicine intended to help pregnant women avoid premature births.
The drug company, which sought court protection along with several subsidiaries, listed debt of $728 million and assets of $237 million in a Chapter 11 petition filed today in U.S. Bankruptcy Court in Manhattan. Based in Bridgeton, Missouri, K-V said it will keep operating as it seeks to reorganize.