UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 16, 2010 (March 19, 2010)
King Pharmaceuticals, Inc.
(Exact name of registrant as specified in charter)
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Tennessee
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001-15875
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54-1684963 |
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(State or other jurisdiction
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(Commission
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(I.R.S. Employer |
of incorporation)
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File Number)
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Identification No.) |
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501 Fifth Street, Bristol, Tennessee
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37620 |
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(Address of principal executive offices)
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(Zip Code) |
Registrants telephone number, including area code: (423) 989-8000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On March 16, 2010, Alpharma Inc. and Alpharma Pharmaceuticals LLC (collectively Alpharma),
subsidiaries of King Pharmaceuticals, Inc. (King), entered into a Settlement Agreement
(Agreement) with the United States Department of Justice and the Office of the U.S. Attorney for
the District of Maryland. The Agreement resolves an investigation of Alpharmas sales and marketing
activities, prior to its purchase by King in December 2008, related to the Alpharma product,
Kadian. King divested Kadian at the time of the Alpharma acquisition. As part of the settlement,
Alpharma will enter into separate but similar agreements with states that opt to participate in the
settlement.
The Agreement does not include any admission of liability or wrongdoing. Under the terms of
the Agreement, Alpharma will pay $42.5 million plus interest to the United States and the states
participating in the settlement, and King has agreed to guarantee Alpharmas settlement
obligations.