K-V Pharma (KV.A) Sues FDA, Says Unlawful Competition to Makena Could Lead to Bankruptcy; Shares Nosedive
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HUB Cyber Security (HUBC) Strongly Responds To Dominion’s Misleading Lawsuit; Reaffirms Dedication To Expansion And Worldwide Customer Support
- Spirit Airlines (SAVE) Announces Resignation of Dawn M. Zier from Board
- Newmont (NEM) Appoints Francois Hardy as CTO
Create E-mail Alert Related Categories
Corporate News, Litigation, Momentum MoversRelated Entities
BankruptcySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!