Company History
King Pharmaceuticals was founded in 1993 by John M. Gregory. In January 1994, King acquired a former Beecham plant in Bristol, Tennessee. The 500,000-square-foot (46,000 m2) facility was purchased for $1.18 million from RSR Pharmaceutical, who had been using it after Beecham merged with SmithKline. King initially manufactured drugs for other pharmaceutical companies, but soon established a strategy of acquiring branded prescription drugs, which have a much higher gross margin than contract manufactured drugs.
1994 to 1998, King obtained about twenty smaller branded drugs and then went public in June 1998.
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