Glenview Capital Discloses KV Pharmaceutical Stake ~ market folly

Tuesday, August 6, 2013

Glenview Capital Discloses KV Pharmaceutical Stake

Larry Robbins' hedge fund Glenview Capital has disclosed a position in KV Pharmaceutical (KVPHQ).  The firm filed Forms 3, 4, and 13D with the SEC regarding shares.  Per the filings, Glenview has disclosed a 13.6% ownership stake in KVPHQ with 6,661,983 shares.

The filings show that they acquired shares between July 24th and August 2nd at prices ranging between $.2943 and $.5899.  In August 2012, the company filed petitions for relief under Chapter 11 of the US Bankruptcy Code.

Per Google Finance, KV Pharmaceutical is "an integrated specialty pharmaceutical company that develops, manufactures, acquires and markets branded and generic/non-branded prescription pharmaceutical products. The Company focuses on women’s health care products. It markets Evamist, a transdermal estrogen therapy delivering a low dose of estradiol in a once-daily spray indicated for the treatment of moderate-to-severe vasomotor symptoms due to menopause. Through Particle Dynamics, Inc. (PDI), which the Company has approved for divestiture, the Company has developed, manufactured and marketed technologically advanced, value-added raw material products for the pharmaceutical industry and other markets."

For more on this manager, we recently highlighted Larry Robbins' appearance at the Delivering Alpha conference.

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