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The Brentwood, Mo.-based pharmaceutical company anticipates the costs related to the production stoppage and recallsz will hurt fiscal year resultsby $140 million to $150 according to a filing with the U.S. Securities and Exchanged Commission. Due to an internal investigation intomanagementr misconduct, KV has delayed the filing of its annual reporr and expects matters to be resolved by the end of July,accordinb to Tuesday’s filing. Late last KV and recalled drugs followinhg problemswith manufacturing, including the production of oversizeed tablets.
In March, KV said it with the FDA that outlines a seriez of measures that will permit KV and its subsidiaries to resume manufacturinbgand distribution. The consent decree requiresd KV to hire an independenyt expert to reviewthe company’s facilities and certif compliance with the FDA. “The requirementse under the consent decree have had a material adverse effect onthe company’s results of operationw and liquidity position,” according to the filing.
“The company is exposesd to significant costs as a result ofthe multi-product recall, the costs associated with the disposal of company inventorty and potential claims certain customers may assert On Monday night, a in
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