SOURCE: King Pharmaceuticals, Inc.

February 09, 2010 16:55 ET

King Pharmaceuticals Appoints Two New Members to Its Board of Directors

BRISTOL, TN--(Marketwire - February 9, 2010) - King Pharmaceuticals, Inc. (NYSE: KG) today announced that its board of directors has appointed Kevin S. Crutchfield and Dr. Derace Lan Schaffer as members of the board.

Mr. Crutchfield serves as Chief Executive Officer of Alpha Natural Resources, a leading supplier and exporter of metallurgical coal used in the process of making steel and a major supplier of thermal coal to electric utilities and manufacturing industries across the United States. He previously served as President of Alpha Natural Resources, beginning in January 2007, and was appointed to its Board of Directors in November 2007. Prior to that time he served as Executive Vice President since the Company's formation in November 2004. Mr. Crutchfield has held many other senior executive positions during his tenure in the energy industry, including service as Vice President of El Paso Corporation, as President of Coastal Coal Company LLC, as President and CEO of AMVEST Corporation and Chairman and CEO of Cyprus Australia Coal Company. Mr. Crutchfield received a Bachelor of Science Degree from Virginia Polytechnic Institute and State University, and he is a graduate of the University of Virginia, Colgate Darden School of Business Executive Program.

Dr. Schaffer is a radiologist and an entrepreneur, having started his first company during his residency training at the Massachusetts General Hospital and Harvard Medical School. Over the last 25 years he has founded more than 15 companies. He has experience with a wide variety of life sciences companies, particularly those focused on healthcare services, information technology and pharmaceuticals. He also has a detailed understanding of the role of governments in the health care industry, and extensive experience with the government and health care reimbursement issues. Dr. Schaffer is founder and Chief Executive Officer of Lan Group, and Chairman of Partners Imaging. He currently serves on the boards of PharmAthene, Inc., Careguide, Inc., American Caresource Holdings, Inc., Source Medical Solutions and Partners Imaging. Dr. Schaffer received a Bachelor of Arts Degree in Biology from Hamilton College and is a member of Alpha Omega Alpha, the National Medical Honor Society. He was Chief Resident in Radiology at the Massachusetts General Hospital and Harvard Medical School, where he also did his fellowship training and has held Clinical Professorships at both the University of Rochester and Cornell Medical Schools.

Brian A. Markison, Chairman, President and Chief Executive Officer of King, stated, "I am pleased to have two outstanding leaders and experts in their respective fields join our Board of Directors. I look forward to working closely with both Kevin and Derace as we continue to transform King Pharmaceuticals into a leading diversified specialty pharmaceutical company."

About King Pharmaceuticals, Inc.

King, headquartered in Bristol, Tennessee, is a vertically integrated branded pharmaceutical company. King, an S&P 500 Index company, seeks to capitalize on opportunities in the pharmaceutical industry through the development, including through in-licensing arrangements and acquisitions, of novel branded prescription pharmaceutical products and technologies that complement the Company's focus in specialty-driven markets, particularly neuroscience and hospital. King's wholly-owned subsidiary, Alpharma, Inc., is also a leader in the development, registration, manufacture and marketing of pharmaceutical products for food producing animals.

                            EXECUTIVE OFFICES
                         KING PHARMACEUTICALS, INC.
                  501 FIFTH STREET, BRISTOL, TENNESSEE 37620

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