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The Brentwood, Mo.-based pharmaceutical company anticipatese the costs related to the productioj stoppage and recalls will hurt fiscal year resultsby $140 milliobn to $150 million, according to a filinv with the U.S. Securities and Exchange Due to an internal investigation intomanagemenrt misconduct, KV has delayed the filinh of its annual report and expectz matters to be resolveds by the end of July,according to Tuesday’s Late last year, KV and recalled drugsd following problems with manufacturing, including the production of oversized In March, KV said it with the FDA that outlines a seriez of measures that will permit KV and its subsidiaries to resumew manufacturing and distribution.
The consent decree requirews KV to hire an independent experf to reviewthe company’s facilities and certify compliance with the FDA. “The requirements undedr the consent decree have had a material adverse effect onthe company’z results of operations and liquidity position,” according to the “The company is exposed to significant costd as a result of the multi-product recall, the costs associatex with the disposal of company inventory and potentiap claims certain customers may assert …” On Mondayy night, a in Brentwood.
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