8-K

==============================================================================

                                 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

                         Commission File Number 1-9601

      Date of Report (date of earliest event reported): January 16, 2008


                          K-V PHARMACEUTICAL COMPANY
            (Exact name of registrant as specified in its charter)

               DELAWARE                                 43-0618919
    (State or other jurisdiction of        (I.R.S. Employer Identification No.)
    incorporation or organization)

         2503 SOUTH HANLEY ROAD
          ST. LOUIS, MISSOURI                            63144
(Address of principal executive offices)               (Zip Code)


                                (314) 645-6600
             (Registrant's telephone number, including area code)

         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:

     / / Written communications pursuant to Rule 425 under the Securities Act.
     / / Soliciting material pursuant to Rule 14a-12 under the Exchange Act.
     / / Pre-commencement communications pursuant to Rule 14d-2(b) under the
         Exchange Act.
     / / Pre-commencement communications pursuant to Rule 13e-4(c) under the
         Exchange Act.

==============================================================================






ITEM 1.01      ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On January 16, 2008, KV Pharmaceutical Company (the "Company") entered into a
definitive purchase agreement (the "Agreement") with Cytyc Prenatal Products
Corp. ("Cytyc"), a subsidiary of Massachusetts-based Hologic, Inc. pursuant to
which the Company will acquire the full U.S. and worldwide rights to
Gestiva(TM) (17-alpha hydroxyprogesterone caproate) (the "Assets") upon
approval of the pending Gestiva(TM) New Drug Application. The Company is
acquiring the Assets for $82 million in cash.

Pursuant to the terms of the Agreement, at the initial closing of the
transaction, the Company will pay $7.5 million of the purchase price to Cytyc
and Cytyc will grant a royalty free license to use the Assets during the
period from the initial closing through the date the transfer of the Assets to
the Company is completed. The balance of the purchase price and the transfer
of the Assets will occur upon final FDA approval of Gestiva(TM), the
production of launch quantities of Gestiva(TM) and the satisfaction of other
closing conditions contained in the Agreement.

ITEM 7.01      REGULATION FD DISCLOSURE.

Attached and incorporated herein by reference is a press release issued by the
Company on January 22, 2008 announcing that the Company had entered into the
Agreement described in Item 1.01 above. A copy of the press release announcing
the entry into the Agreement is furnished as Exhibit 99 attached hereto. The
information on Exhibit 99 shall not be deemed "filed" for purposes of Section
18 of the Securities Exchange Act of 1934, as amended. The Company has posted
this Form 8-K on its internet website at www.kvpharmaceutical.com.

ITEM 9.01      FINANCIAL STATEMENTS AND EXHIBITS.

         (d) The following exhibit is furnished as part of this report:

         Exhibit Number            Description
         --------------            -----------

               99          Press Release dated January 22, 2008, issued by K-V
                           Pharmaceutical Company

                                  *    *    *






                                  SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

Dated:  January 23, 2008

                                       K-V PHARMACEUTICAL COMPANY


                                       By: /s/ Richard H. Chibnall
                                          -----------------------------------
                                          Richard H. Chibnall
                                          Vice President, Finance

EX-99

                                                                    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 ANNOUNCES ACQUISITION OF
                            RIGHTS TO GESTIVA(TM)

      POTENTIAL NDA APPROVAL FOR GESTIVA(TM) ANTICIPATED IN CALENDAR 2008

 GESTIVA(TM), IS DESIGNATED AS AN ORPHAN DRUG BY THE FDA FOR THE PREVENTION OF
                    PRETERM BIRTH IN SINGLETON PREGNANCIES


January 22, 2008, St. Louis, MO - KV Pharmaceutical Company (NYSE: KVa/KVb), a
fully integrated specialty pharmaceutical company that develops, manufactures,
acquires and markets technology-differentiated branded and generic/non-branded
prescription pharmaceutical products, announced today that it has entered into
a definitive purchase agreement that gives KV full U.S. and worldwide rights
to Gestiva(TM) (17-alpha hydroxyprogesterone caproate) upon approval of the
pending Gestiva(TM) New Drug Application ("NDA").

The NDA for Gestiva(TM) is currently before the FDA, pending approval for use
in the prevention of preterm birth in certain categories of pregnant women.
The proposed indication is for to women with a history of at least one
spontaneous preterm delivery (i.e., less than 37 weeks), who are pregnant with
a single fetus. The FDA issued an "approvable" letter for Gestiva(TM) in
October 2006, and a final approval is anticipated in late 2008. The FDA has
granted an Orphan Drug Designation for Gestiva(TM).

KV is acquiring Gestiva(TM) from Massachusetts-based Hologic, Inc. for $82
million in cash, $7.5 million of which is payable at closing. The balance is
payable upon final FDA approval and the production of launch quantities of
Gestiva(TM). KV expects Gestiva(TM) to be additive to KV's earnings per share
in the first 12 months following its launch.

"Gestiva(TM) marks an exciting and important extension to Ther-Rx's growing
women's health franchise," said Marc S. Hermelin, Chairman of the Board and
Chief Executive Officer of KV. "Our commitment to women's health is
second-to-none in the industry and we believe the acquisition of Gestiva(TM),
following the acquisition of our approved




and soon-to-be-launched Evamist(TM) product and the continued growth of
Ther-Rx's current women's health suite of products, charts a course for
sustained growth and profitability for our branded business."

KV - through its wholly-owned branded subsidiary, Ther-Rx Corporation - has
built an emerging leadership position in selected women's health therapies.
Gestiva(TM) will join a product roster that includes:

     o   PreCare(R), the best-selling line of branded prescription prenatal
         vitamins which today have more than a 40% share of the branded
         prescription prenatal market and include the leading brand in the
         fast-growing Omega-3 segment of prescription prenatals - PrimaCare(R)
         - and PrimaCare ONE(TM), which is the #1 individual product among all
         prescription prenatals in the United States;
     o   Leading one-dose prescription vaginal anti-infective products,
         including Clindesse(R), the fastest growing branded intra-vaginal
         prescription product for its labeled indication in the United States,
         and Gynazole-1(R), the #1 branded cream product for its labeled
         indication (based on prescriptions filled in the United States);
     o   Leading products in the area of oral, prescription iron products, led
         by the Company's unique Repliva 21/7(TM), the #1 branded oral
         prescription hematinic product in the United States; and,
     o   Evamist(TM), a novel new delivery dosage form and the first and only
         FDA-approved transdermal estradiol spray, which is expected to be
         launched early in calendar 2008, with estimated peak annual sales of
         approximately $125 million.

The acquisition of Gestiva(TM) is intended to allow Ther-Rx to capitalize on
the already strong relationships built over the past seven years between
Ther-Rx's 300-member sales force and Obstetrician/Gynecologists. KV believes
Gestiva(TM) is a perfect fit for Ther-Rx's sale force where it will be able to
continue to expand its focus on women and their babies as a complement to
Ther-Rx's leading selling line of branded prenatal vitamins.

ABOUT KV PHARMACEUTICAL COMPANY

KV Pharmaceutical Company is a fully integrated specialty pharmaceutical
company that develops, manufactures, markets and acquires
technology-distinguished branded and generic/non-branded prescription
pharmaceutical products. 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 branded
prescription pharmaceutical subsidiary.

For further information about KV Pharmaceutical Company, please visit the
Company's corporate website at www.kvpharmaceutical.com.




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", "anticipates", "commit", "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, product launches, regulatory approvals, market
position, market share increases, acquisitions, revenues, expenditures and
other 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 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 and
capital and consumer spending; (2) the difficulty of predicting FDA approvals,
including timing, and that any period of exclusivity may not be realized; (3)
acceptance and demand for new pharmaceutical products; (4) the impact of
competitive products and pricing, including as a result of so-called
authorized-generic drugs; (5) new product development and launch, including
the possibility that any product launch may be delayed or that product
acceptance may be less than anticipated; (6) reliance on key strategic
alliances; (7) the availability of raw materials and/or products manufactured
for the Company under contract manufacturing arrangements with third parties;
(8) the regulatory environment, including regulatory agency and judicial
actions and changes in applicable law or regulations; (9) fluctuations in
revenues; (10) the difficulty of predicting international regulatory approval,
including timing; (11) the difficulty of predicting the pattern of inventory
movements by the Company's customers; (12) the impact of competitive response
to the Company's sales, marketing and strategic efforts; (13) risks that the
Company may not ultimately prevail in litigation; (14) the proposed
restatement of the Company's financial statements for fiscal periods from 1996
through 2006 and for the quarter ended June 30, 2006, as well as completion of
the Company's financial statements for the second, third and fourth quarters
of fiscal 2007 and for the full fiscal year ended March 31, 2007, and for the
first, second and third quarter of fiscal 2008; (15) actions by the Securities
and Exchange Commission and the Internal Revenue Service with respect to the
Company's stock option grants and accounting practices; and (16) the risks
detailed from time-to-time in the Company's filings with the Securities and
Exchange Commission.




This discussion is by no means exhaustive, but is designed to highlight
important factors that may impact the Company's outlook. We are under no
obligation to update any of the forward-looking statements after the date of
this release.