BRISTOL, Tenn., May 10 /PRNewswire-FirstCall/ -- King Pharmaceuticals,
Inc. (NYSE: KG) responded today to inquiries regarding the Company's continued
commitment to Estrasorb(R) (estradiol topical emulsion) in light of King's
previously announced decision to market for divestiture some of its other
women's health products. King and Novavax, Inc. have an agreement to co-
promote Estrasorb(R) in the United States and Puerto Rico. King also has an
exclusive license from Novavax to promote, market, distribute and sell
Estrasorb(R) worldwide, except in the United States and Puerto Rico. The U.S.
Food and Drug Administration ("FDA") approved the New Drug Application for
Estrasorb(R) in October 2003. Estrasorb(R) is the first approved prescription
topical emulsion for estrogen therapy in the United States.
Jefferson J. Gregory, Chief Executive Officer of King, stated, "As I
indicated on our conference call last week, we plan to continue working
diligently with Novavax to ensure the successful launch of Estrasorb(R) in the
United States and Puerto Rico. Our ongoing commitment is unaffected by our
previously announced decision to market Prefest(R) (estradiol/norgestimate),
Nordette(R) (levonorgestrel) and Menest(R) (esterified estrogens tablets, USP)
for divestiture."
About King Pharmaceuticals
King, headquartered in Bristol, Tennessee, is a vertically integrated
branded pharmaceutical company. King, an S&P 500 Index company, seeks to
capitalize on opportunities in the pharmaceutical industry through the
development, including through in-licensing arrangements and acquisitions, of
novel branded prescription pharmaceutical products in attractive markets and
the strategic acquisition of branded products that can benefit from focused
promotion and marketing and product life-cycle management.
Forward-looking Statements
This release contains forward-looking statements, which reflect
management's current views of future events and operations, including, but not
limited to, statements pertaining to King's plan to continue working
diligently with Novavax to ensure the successful launch of Estrasorb(R) in the
United States and Puerto Rico. These forward-looking statements involve
certain significant risks and uncertainties, and actual results may differ
materially from the forward-looking statements. Some important factors which
may cause results to differ include: dependence on Novavax's ability to
successfully manufacture Estrasorb(R); dependence on King's and Novavax's
ability to successfully launch and market Estrasorb(R) as planned; dependence
on our compliance with FDA and other government regulations that relate to our
business; and dependence on changes in general economic and business
conditions; changes in current pricing levels; changes in federal and state
laws and regulations; and manufacturing capacity constraints. Other important
factors that may cause actual results to differ materially from the forward-
looking statements are discussed in the "Risk Factors" section and other
sections of King's Form 10-K for the year ended December 31, 2003 and
Form 10-Q for the quarter ending March 31, 2004, which are on file with the
U.S. Securities and Exchange Commission. King does not undertake to publicly
update or revise any of its forward-looking statements even if experience or
future changes show that the indicated results or events will not be realized.
SOURCE King Pharmaceuticals, Inc.
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Related links:
http://www.kingpharm.com
Company News On-Call:
http://www.prnewswire.com/comp/120319.html
CONTACT:
James E. Green, Executive Vice President,
Corporate Affairs of King Pharmaceuticals, +1-423-989-8125
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