KV, Hologic settling Makena claims

KV Pharmaceutical Co. (OTCQB:KVPHQ) will pay Hologic Inc. (NASDAQ:HOLX) $60 million by year end to settle all claims related to preterm birth drug Makena hydroxyprogesterone caproate. KV, which has rights to the long-acting 17p from Hologic, filed for Chapter 11 bankruptcy in August. Hologic subsequently filed a claim against KV in bankruptcy court for the amount of milestones owed to Hologic by KV -- $95 million -- plus royalties. At Oct. 31, KV had $28.4 million in cash. On Wednesday, KV said it received a commitment from lenders for an $85 million senior secured debtor-in-possession financing for the settlement. KV also proposed a plan to emerge from bankruptcy as a private company. ...