NYSE questions sharp rise in KV Pharmaceutical shares
The shares of Brentwood-based KV Pharmaceutical have risen so sharply since June 9 that the New York Stock Exchange has contacted the troubled firm about the unusual trading activity.
It’s unclear what’s causing the steep increase and the company has a policy about not commenting on unusual trading activity.
Although the company’s Class A shares rose only 14 cents to close at $3.24 on Wednesday, the share price has nearly doubled from its June 9 close of $1.68. The increase in the Class B shares was even more dramatic. Those shares closed Wednesday at $6.90, up 221 percent from $2.15 on June 9.
Class A common stock has 1/20 of a vote per share and Class B common stock has one vote per share.
The company temporarily shut down production of all its own drugs in January and cannot resume production until it meets FDA standards. It is unclear if and when it might get the green light.
It has not been able to file annual results because of an internal probe of a variety of issues including regulatory matters and management misconduct. It recently said that when it does file its annual report, that it expects its outside auditing firm to raise questions about its ability to continue as a going concern.
KV has said it anticipates net revenues will be significantly hurt by the production stoppage, recalls of its products, disposal of of inventory and customer claims.
Gail writes about business, health and wine for the Post-Dispatch. She joined the P-D in 2005 after moving from NYC where she covered federal courts and wrote about food and wine. In her free time, Gail lifts weights, and of course, wine glasses. 
On June 9th, KV Pharm. settled a lawsuit with Purdue Pharm over their Oxycotin production. Doesn’t seem to be much of a question here.
kv is taking over the production of oxycotin!! sales will go up severely
k black
What makes you think they will ever be able to manufacture Oxycontin(generic) and also why wouldn’t other Generic Manufactures start marketing the generic form ASAp since they will get the right also. This will mean they may be months behind and maybe years.
It looks like KV is not sure it will be manufacturing soon as they gave the rights to another company to use there technology in the female market.
For the Purdue Oxy deal… read between the lines. Purdue got KV out of patent dispute with settlement and KV gets some product to sell. Everyone wins and makes a buck.
With the Gideon contract… it’s a backup plan for production and allows KV to gain opportunity thru Gideon.
It’s going to be awhile before KV can work itself out of this consent decree mess…..
KV is a strong company pulling out of a tough situation. They will come back stronger than before, give it a little time. Remember this stock was at around $ 28.00 a share at one time. I feel confident.
Not only should the Exchange look into KV trading, buy also the SEC and Justice. This Company has a rap-sheet as long as your arm. Nevada diamond mines are a better bet!
Who cares? Just keep going up….I want my money back from these swindlers.
Mr. Kozlowski is still on the payroll. Another absent mineded uppity up. He is part of the problem. KV got rid of all the real workers and kept the problem other than Big Mark and his famous posse. Get rid of all the upper management there and start over and this company might have a chance. Its still the good old boys taking care of there finds. This has been going on forever. Just because they brought in a consulting firm does not mean a damm thing. They will go back to there old ways again. Its a proven fact.