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Business Description
King Pharmaceuticals, Inc. is a vertically integrated pharmaceutical company that is engaged in the development, manufacturing, marketing and sales of branded prescription pharmaceutical products. The Company's products can be divided into the therapeutic areas, including cardiovascular, endocrinology/women's health, neuroscience, critical care, anti-infectives and respiratory. King markets its products to general/family practitioners, internal medicine physicians, cardiologists, endocrinologists, neurologists, psychiatrists, obstetricians/gynecologists, as well as to hospitals across the United States and Puerto Rico. The Company also receives royalties from the rights of certain products, including Adenocard and Adenoscan. Through Meridian Medical Technologies, Inc., the Company manufactures auto-injectors for the self-administration of injectable drugs. In addition, the Company provides contract manufacturing for a number of pharmaceutical and biotechnology companies.

Financial Information
For the six months ended 6/30/04, revenues fell 20% to $565.8 million. Net loss from continuing operations rose 66% to $68 million. Revenues reflect lower revenues from branded pharmaceutical products. Higher net loss also reflects a $65 million impairment of intangible and a $6.2 million restructuring charge.