BRISTOL, Tenn., May 17 /PRNewswire-FirstCall/ -- King Pharmaceuticals,
Inc. (NYSE: KG) reported today that Jefferson J. Gregory has resigned from his
position as Chief Executive Officer effective last Friday, May 14, 2004. Mr.
Gregory's intention to retire was previously announced by the Company. Also
effective May 14, 2004, Mr. Gregory has resigned from his position as Chairman
and as a member of the Company's Board of Directors. The Board of Directors
has accepted Mr. Gregory's resignations and will meet later today as
previously planned.
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 the intent of the Company's Board of
Directors to meet later today as previously planned. 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
whether the Company's Board of Directors meets today as previously planned.
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 first quarter ended 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, Inc., +1-423-989-8125
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