King Pharmaceuticals, Inc. Announces Intent to Voluntarily Delist From the NYSE

King Pharmaceuticals, Inc. KG announced today that it has submitted written notice to the New York Stock Exchange of its intention to voluntarily delist its common stock, no par value, from the NYSE. As previously announced on January 31, 2011, Pfizer Inc. PFE, through its wholly-owned subsidiary, Parker Tennessee Corp., acquired approximately 92.5% of the outstanding shares of the Company's common stock following the successful completion of a tender offer for all of the outstanding shares of common stock. Pursuant to the previously disclosed Agreement and Plan of Merger, dated as of October 11, 2010, among Pfizer, the Company, and Merger Sub, Pfizer intends to complete its acquisition of the Company by effecting a short form merger on or about February 28, 2011 in accordance with the provisions of the Tennessee Business Corporation Act. Pursuant to the Merger, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and a wholly owned subsidiary of Pfizer. Each share of the Company's common stock outstanding immediately prior to the effective time of the Merger that was not accepted for payment pursuant to the Tender Offer will, at the effective time of the Merger, be converted into the right to receive $14.25 per share net to the shareholder in cash, without interest and less any required withholding taxes. As a result of the Merger, the Company will become a wholly-owned subsidiary of Pfizer and a trading market for the Company's common stock will no longer exist.