KV Pharmaceutical Protests Hologic, Inc. Bid to Reacquire Drug
Published: Sep 24, 2012
K-V Pharmaceutical (KVPBQ) is protesting drug maker Hologic Inc.'s (HOLX) "brazen" attempt to circumvent bankruptcy law to get its hands on the rights to Makena, a drug that reduces the risk of premature births. K-V Pharmaceutical, which filed for bankruptcy last month, said in a court filing Thursday night that Hologic is trying to derail its restructuring efforts in order to reacquire the worldwide rights to Makena. The premature birth drug is crucial to K-V's business and reorganization efforts. "Without Makena, the debtors will have no prospects for a successful restructuring," K-V's lawyers said in a filing in U.S. Bankruptcy court in New York.