KV Sells Generics Business For $60 Million to Zydus

KV Pharmaceutical Co. June 17 said it executed a definitive agreement to divest its generics subsidiary Nesher Pharmaceuticals Inc. and its entire generics business and assets to Zydus Pharmaceuticals (USA) Inc. for $60 million.

Divestiture has been part of KV’s plans since its board of directors and management decided to transform the generics company into “a branded specialty pharmaceutical company focused on women’s health,” according to KV.

The company, based in St. Louis, estimates that the actual sale will occur during the second quarter of KV’s 2012 fiscal year. The transaction with Zydus, whose headquarters are in Pennington, N.J., is ...