K-V Pharma (KV.A) Sues FDA, Says Unlawful Competition to Makena Could Lead to Bankruptcy; Shares Nosedive
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Shares of the tiny but hotly-traded K-V Pharma (NYSE: KV-A) are getting smashed Friday as the company announced late Thursday it has sued the FDA, alleging the Administration needs to limit "unlawful competition" to K-V's Makena or it may go bankrupt. K-V said competing premature-birth products administered illegally could dwindle the company's capital for operations to nothing within three to six months.
The news follows a 15 percent surge in shares of K-V Pharma on Monday of this week after the FDA provided guidance on Makena.
K-V shares are down more than 21 percent to $0.51 at last check.
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The news follows a 15 percent surge in shares of K-V Pharma on Monday of this week after the FDA provided guidance on Makena.
K-V shares are down more than 21 percent to $0.51 at last check.
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