Preterm birth drug app heads back to FDA

KV Pharmaceutical (NYSE: KV-B) is a step closer to getting its hands on a new drug to prevent preterm births. The company says that Hologic has resubmitted its FDA application for Gestiva, a drug KV paid $70 million for upfront back in January. KV also committed to $120 million in additional payments. St. Louis, MO-based KV had announced its original intention to license the drug, also known at 17P, more than two years ago. But when the FDA failed to approve it by the beginning of 2009, the two...

KV Pharma axes CEO

A month after laying off 42 percent of its workforce, KV Pharmaceutical has elected new board members who promptly turned around and ousted the CEO, David Van Vliet. The board initiated a search for a new CEO, who will have to complete a turnaround triggered by an FDA inspection and product recalls, and get the company's products back on the market. Van Vliet is entitled to a $1 million severance package, about twice his annual salary. KV...