KV Pharmaceutical Company Acquires Technologies and Assets of Particle and Coating Technologies Inc.


Acquisition Expands KV's Capabilities in Drug Delivery Technologies and Accelerates Drug Development

ST. LOUIS, June 14 / -- KV Pharmaceutical Company announced today that it has acquired all the technologies, assets and related intellectual property of Particle and Coating Technologies Inc. (PCT), a privately held, St. Louis-based company. Terms of the transaction were not disclosed. The acquisition of PCT is expected to augment development of KV's advanced drug delivery product pipeline for both branded and generic products.

PCT is a particle coating company which uses its proprietary processes to develop products for the pharmaceutical, nutritional, veterinary, industrial and cosmetic markets. PCT's technologies include novel particle coatings, controlled release, buccal release, fast dissolving tablets, taste masking, inhalable particle delivery and PLGA or poly(lactic-co-glycolic acid)-based depot type deliveries, among others, and are applied to products developed and marketed internally, as well as out-licensed. Over its short 12-year history, PCT has worked for over 300 client companies including 27 of the global Fortune 500. PCT has executed many royalty-based licenses worldwide, provided technologies for commercial products, and assisted with the ramp-up of several manufacturing plants whose operations are based on PCT's technologies.

Marc S. Hermelin, Chairman of the Board and Chief Executive Officer of KV stated, "We believe that PCT will advance the depth and breadth of KV's already formidable drug delivery expertise, as well as provide immediate benefit to multiple product opportunities currently under development at KV. With PCT's specialization in controlled release, taste masking, buccal release and other proprietary technologies, the synergies between the two companies will be extremely beneficial for new product development, as well as the enhancement of products internally developed for our generic subsidiary, ETHEX Corporation and our branded business, Ther-Rx Corporation.

"We are also delighted to be bringing a local St. Louis company into the KV family. Dr. Bob Sparks and his team are true innovators in drug delivery and we are looking forward to adding their talents," added Mr. Hermelin. PCT founder Dr. Sparks will serve as a consultant to KV after the transaction closes under an exclusive contract.

Dr. Sparks stated, "Joining forces with a pharmaceutical manufacturer/marketer known for its drug delivery expertise is a great next step for PCT. This transaction ultimately enables our technologies to more efficiently find their way into more products, faster, for the benefit of patients, and I am personally pleased that we will be able to see the work begun by our Company continue and flourish under the scientific guidance and marketing expertise of KV Pharmaceutical Company."

About KV Pharmaceutical Company

KV Pharmaceutical Company is a fully integrated specialty pharmaceutical company that develops, manufactures and markets and acquires technology- distinguished branded and generic/non-branded prescription pharmaceutical products. The Company markets its technology distinguished products through ETHEX Corporation, a national leader in pharmaceuticals that compete with branded products, and Ther-Rx Corporation, its emerging branded drug subsidiary.

For further information about KV Pharmaceutical Company, please visit the Company's corporate website at www.kvpharmaceutical.com.

Source: KV Pharmaceutical Company

Web site: www.kvpharmaceutical.com

All Topics