King Pharmaceuticals Announces FDA Approval of ALTACE® Tablet Formulation
BRISTOL, Tenn. --King Pharmaceuticals, Inc. (NYSE: KG) announced today that the U.S. Food and Drug Administration (FDA) has approved the New Drug Application for an ALTACE® (ramipril) tablet formulation. King expects to be in a position to launch the new formulation sometime during the fourth quarter of 2007 or the first quarter of 2008.
About King Pharmaceuticals
King, headquartered in Bristol, Tenn., 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.
About 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 King’s plans regarding the timing of the launch of the Altace® tablet formulation. Some important factors which may cause actual results to differ materially from the forward-looking statements include dependence on King’s ability to successfully launch the Altace® tablet formulation; dependence on the occurrence of regulatory changes which could affect King’s ability to launch the Altace® tablet formulation successfully; dependence on King’s ability to continue to successfully execute the Company’s strategy and to continue to capitalize on strategic opportunities in the future for sustained long-term growth; dependence on the availability and cost of raw materials; dependence on no material interruptions in supply by contract manufacturers of King’s products; dependence on the potential effect on sales of the Company’s existing branded pharmaceutical products as a result of the potential development and approval of a generic substitute for any such product or other new competitive products; dependence on the Company’s compliance with FDA and other government regulations that relate to the Company’s business, and dependence on changes in general economic and business conditions, changes in current pricing levels, changes in federal and state laws and regulations, and manufacturing capacity constraints. 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, 2005 and Form 10-Q for the quarter ended September 30, 2006, 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.