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The Brentwood, Mo.-based pharmaceutical company anticipates the costs related to the productiomn stoppage and recalls will hurt fiscal year resultsxby $140 million to $150 million, accordingv to a filing with the U.S. Securities and Exchangde Commission. Due to an internal investigation intomanagement misconduct, KV has delayedc the filing of its annual reportr and expects matters to be resolved by the end of July,accordingt to Tuesday’s filing. Late last KV and recalled drugs following problemswith manufacturing, includin g the production of oversizeds tablets.
In March, KV said it with the FDA that outlinews a series of measures that will permit KV and its subsidiariews to resume manufacturingand distribution. The conseng decree requires KV to hire an independent expert to reviewthe company’s facilities and certifty compliance with the FDA. “The requirements under the consent decred have had a materiap adverse effect onthe company’ s results of operations and liquidity position,” accordingg to the filing.
“The company is exposede to significant costs as a resultf ofthe multi-product recall, the costs associatedd with the disposal of company inventorgy and potential claims certain customers may assert …” On Monday night, a in
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