CEO of King Pharmaceuticals, Maker of Levoxyl, to Resign
Thursday February 19, 2004
King Pharmaceuticals Inc., already facing an investigation by the Securities and Exchange Commission for questionable pricing practices, and dealing with a steady stream of recalls of thyroid drug Levoxyl, is now facing the departure of its CEO, Jefferson Gregory.
The SEC investigation has been looking at the company's pricing practices for government-funded programs like Medicaid. In November of 2003, the U.S. Department of Health and Human Services subpoenaed King, requesting documents related to sales and other practices for King's two top-selling drugs, Altace -- a drug to help prevent stroke risk -- and Levoxyl, its levothyroxine drug.
Levoxyl has been the subject of frequent recalls. For articles on Levoxyl and its recalls, see: Levoxyl Links and Articles
See AP story on retirement
The SEC investigation has been looking at the company's pricing practices for government-funded programs like Medicaid. In November of 2003, the U.S. Department of Health and Human Services subpoenaed King, requesting documents related to sales and other practices for King's two top-selling drugs, Altace -- a drug to help prevent stroke risk -- and Levoxyl, its levothyroxine drug.
Levoxyl has been the subject of frequent recalls. For articles on Levoxyl and its recalls, see: Levoxyl Links and Articles
See AP story on retirement
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