Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.KV Pharmaceutical Company, a fully integrated specialty pharmaceutical company, has announced that it is in the process of reducing its workforce by approximately 700 jobs.
Subscribe to our email newsletter
The action is part of an overall cost-cutting program as the company works toward resuming full operation. The company has encountered a number of substantial challenges over the past months, including a voluntary suspension of product manufacturing and shipment, as well as voluntary recalls of its products.
The KV workforce reduction includes a combination of terminations and layoffs. The company expects to recall some employees when production and shipment of approved products resume.
To resume product shipments as quickly as possible, the company is currently working with Lachman Consulting, a third-party consulting group, to enhance KV’s current good manufacturing practice processes and quality systems. KV continues to work in full cooperation with the FDA.
David Vliet, interim president and CEO of KV Pharmaceutical, said: KV Pharmaceutical plans to emerge from these challenges on a solid foundation of a smaller, more focused organization and the return to providing excellent products to our customers. The need to reduce our employee base is regrettable and one of the most difficult parts of our program to resume manufacturing and shipping product.