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EXHIBIT 99.0
N E W S R E L E A S E
[KING LOGO]
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FOR IMMEDIATE RELEASE
KING PHARMACEUTICALS ANNOUNCES MANAGEMENT APPOINTMENTS
FOLLOWING MERGER WITH JONES PHARMA
BRISTOL, TN, September 12, 2000 - King Pharmaceuticals, Inc. (NYSE:KG) announced
today that James R. Lattanzi will join King, effective October 1, 2000, as Chief
Financial Officer. Mr. Lattanzi will fill the position being vacated by Brian G.
Shrader who will assume the position of Treasurer of King.
Mr. Lattanzi, a Certified Public Accountant, comes to King from
PricewaterhouseCoopers LLP ("PWC") where he served as managing partner of PWC's
Greensboro, North Carolina office. His extensive career in public accounting
spans approximately 24 years during which he has served as a partner in other
PWC (and its predecessor Coopers & Lybrand, LLP) offices in New York, New York,
and Pittsburgh, Pennsylvania. During his tenure as managing partner of the
Greensboro office, Mr. Lattanzi served primarily public companies in the
consumer products and pharmaceutical industries. Additionally, while at PWC, he
was involved with numerous initial public offerings, and he served companies
with significant international operations, including Fortune 500 companies. Mr.
Lattanzi is a licensed Certified Public Accountant in 4 states and a member of
the American Institute of Certified Public Accountants.
John M. Gregory, Chairman and Chief Executive Officer of King, stated, "We are
delighted that Jim Lattanzi is joining King Pharmaceuticals. His reputation of
high integrity and his vast experience in public accounting should prove
valuable assets to the Company." Mr. Gregory added, "King greatly appreciates
the tremendous contribution of Brian Shrader who has served as Chief Financial
Officer since the Company's inception, and we look forward to his continuing
significant involvement as Treasurer of King."
King announced also that Richard C. Williams has been appointed as an operating
officer of King in the position of Vice Chairman, Strategic Planning. Mr.
Williams is currently a member of the Board of Directors of King, and he
presently serves as President of Conner-Thoele Limited, a consulting and
financial advisory firm specializing in the healthcare and pharmaceutical
industries. He serves also as a director of Immunomedics, Inc., a public
biopharmaceutical and therapeutic company, and a director of Centaur, Inc., a
private equine diagnostics company. Mr. Williams served previously as Chairman
of Medco Research, Inc., prior to King's acquisition of Medco during February
2000. Prior to founding Conner-Thoele in 1989, Mr. Williams served as Vice
President-Finance and Chief Financial Officer of Erbamont N.V., a multi-national
ethical pharmaceutical company, and held executive and officer positions with
Field Enterprises, Inc., Abbott Laboratories, UNC Resources, and American
Hospital Supply Corporation.
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Additionally, King announced that John P. McCoy has been appointed as Executive
Vice President and General Manager of King's Bristol facility. Mr. McCoy
presently serves King as Executive Vice President of Quality. Prior to joining
King, Mr. McCoy held various management positions with Connaught Laboratories
and McNeil Pharmaceuticals during his 29 year career in the pharmaceutical
industry. Mr. McCoy will fill the position being vacated by James E. Gregory who
has decided to resign to pursue personal goals.
"The experience and capabilities of these management appointees will add to the
depth of King's already strong management team," further commented John M.
Gregory.
King, headquartered in Bristol, Tennessee, is a vertically integrated
pharmaceutical company that manufactures, markets, and sells primarily branded
prescription pharmaceutical products. King seeks to capitalize on niche
opportunities in the pharmaceutical industry created by cost containment
initiatives and consolidation among large global pharmaceutical companies.
King's strategy is to acquire branded pharmaceutical products and to increase
their sales by focused promotion and marketing and through product life cycle
management.
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Contact: Kyle P. Macione, Executive Vice President, Corporate Affairs
423-989-8077
EXECUTIVE OFFICES
KING PHARMACEUTICALS - 501 FIFTH STREET, BRISTOL, TENNESSEE 37620
