26 February 2009

KG Earnings Announcement 2008-4Q

King Pharmaceuticals, Inc. (NYSE: KG) has announced a huge loss for the quarter that ended on 31 December 2008.

Much of the loss was due to charges, exceeding $600 million, that were associated with the $1.6 billion acquisition of Alpharma, Inc. (NYSE: ALO).  This transaction was completed near the end of the quarter.

To gain Federal Trade Commission, King sold the KADIAN drug for $127.5 million.

The full GCFR analysis of the quarter will be posted within the next few days.  The spreadsheet below, which differs in material respects from the company-used presentation, compares the latest results to the model we posted previously.  The model didn't include the special charges.


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