Hologic, KV Pharmaceutical genitourinary news
KV will pay Hologic $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.
KV also proposed a plan to emerge from bankruptcy as a private company with its entire portfolio, including Makena, bacterial vaginosis drug Clindesse, vulvovaginal candidiasis drug Gynazole-1 and menopause drug Evamist. KV said it received a commitment from lenders for an $85 million senior secured debtor-in-possession financing for the settlement to fund payments under a proposed reorganization plan. ...