Exhibit 99

KV PHARMACEUTICAL COMPANY


                                           CONTACT:
                                           CATHERINE M. BIFFIGNANI
                                           VICE PRESIDENT,INVESTOR RELATIONS
                                           314-645-6600

                                             [KV PHARMACEUTICAL Logo]

FOR IMMEDIATE RELEASE


                 KV PHARMACEUTICAL COMPANY RECEIVES PAYMENT
                         ON GENERIC PRODUCT DISPUTE

September 4, 2003, St. Louis, MO--KV Pharmaceutical Company today announced
that it has received a payment from an unnamed branded pharmaceutical
company in the amount of over $3.5 million (net fees).

The payment received was made to KV in response to KV's claim that the
branded company violated federal antitrust laws and interfered with KV's
right to a timely introduction of a generic pharmaceutical product in a
previous fiscal year.

Philip Vogt, President of ETHEX Corporation, KV's generic marketing
subsidiary, stated, "Today's settlement begins to address the difficult
environment faced by generic companies attempting to bring high quality,
lower-cost generics to the consumer. It also demonstrates that the Company
will take appropriate action to enforce its rights."

This one-time payment will be reflected in Other Income for KV's quarter
ending, September 30, 2003.

ABOUT KV PHARMACEUTICAL COMPANY
KV Pharmaceutical Company is a fully integrated specialty pharmaceutical
company that develops, acquires, manufactures and markets controlled release
and tastemasked pharmaceutical products using proprietary drug delivery and
tastemasking technologies. The company markets its technology-distinguished
products through ETHEX Corporation, a national leader in pharmaceuticals
that compete with branded products, and Ther-Rx Corporation, its emerging
branded drug subsidiary. KV has consistently ranked as one of America's
fastest growing small companies, most recently by Forbes in its October 2002
issue.

For further information about KV Pharmaceutical Company, please visit the
Company's corporate website at www.kvpharmaceutical.com.
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SAFE HARBOR
The information in this release may contain various forward-looking
statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995 ("PSLRA") and which may be based on or include
assumptions, concerning KV's operations, future results and prospects. Such
statements may be identified by the use of words like "plans", "expect",
"aim", "believe", "projects", "anticipate", "intend", "estimate", "will",
"should", "could" and other expressions that indicate future events and
trends. All statements that address expectations or projections about the
future, including without limitation, statements about the Company's
strategy for growth, product development, market position, expenditures and
financial results, are forward-looking statements.

All forward-looking statements are based on current expectations and are
subject to risk and uncertainties. In connection with the "safe harbor"
provisions, KV provides the following cautionary statements identifying
important economic, political and technology factors which, among others,
could cause the actual results or events to differ materially from those set
forth or implied by the forward-looking statements and related assumptions.

Such factors include (but are not limited to) the following: (1) changes in
the current and future business environment, including interest rates,
currency exchange rates, and capital and consumer spending; (2) the
difficulty of predicting FDA approvals; (3) acceptance and demand for new
pharmaceutical products; (4) the impact of competitive products and pricing;
(5) new product development and launch; (6) reliance on key strategic
alliances; (7) the availability of raw materials; (8) the regulatory
environment; (9) fluctuations in operating results; (10) the difficulty of
predicting the pattern of inventory movements by the Company's customers;
(11) the impact of competitive response to the Company's efforts to leverage
its brand power with product innovation, promotional programs, and new
advertising; (12) the risk that acquisition opportunities will not be
consummated; and, (13) the risks detailed from time to time in the Company's
filings with the Securities and Exchange Commission.

This discussion of uncertainties is by no means exhaustive, but is designed
to highlight important factors that may impact the Company's outlook.

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