The company fully intends to keep operating during the re-structure process.
Makena which is the main drug the company produces 
has had a lack of enforcement on the orphan drug marketing exclusivity granted by the FDA. Medicaid agencies have also made access tough. BD
K-V Pharmaceutical Co. (KV/A) (A), a provider of women’s health-care products, filed for bankruptcy after it said lax federal enforcement and state Medicaid restrictions prevented it from attaining the “full value” of a medicine intended to help pregnant women avoid premature births.
The drug company, which sought court protection along with several subsidiaries, listed debt of $728 million and assets of $237 million in a Chapter 11 petition filed today in U.S. Bankruptcy Court in Manhattan. Based in Bridgeton, Missouri, K-V said it will keep operating as it seeks to reorganize.
Other K-V units that sought court protection include DrugTech Corp., FP1096 Inc., K-V Discovery Solutions Inc., K-V Generic Pharmaceuticals Inc., K-V Solutions USA Inc., Ther-Rx Corp. and Zeratech Technologies USA Inc.
http://www.businessweek.com/news/2012-08-04/k-v-pharmaceutical-files-for-bankruptcy-protection
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