K-V Pharmaceutical Co. has agreed to sell Nesher Pharmaceuticals Inc., its generic drug subsidiary, the company's generics business and assets to Zydus Pharmaceuticals USA Inc.


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K-V Pharmaceutical sells generics business to Zydus

June 17th, 2011

ST. LOUIS – K-V Pharmaceutical Co. has agreed to sell Nesher Pharmaceuticals Inc., its generic drug subsidiary, the company's generics business and assets to Zydus Pharmaceuticals USA Inc.

K-V said Friday that the $60 million cash transaction, pending customary closing conditions, is expected to close in its fiscal 2012 second quarter.

The pharmaceutical company, which specializes in women's health, noted that the sale of its generics business has been an important goal of KV's board 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," K-V stated.

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