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Hisamitsu To Buy Noven Pharmaceuticals

Hisamitsu Pharmaceutical Co., based in Japan, plans to acquire Noven Pharmaceuticals, Inc. for $428 million in cash.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Hisamitsu Pharmaceutical Co., based in Japan, plans to acquire Noven Pharmaceuticals, Inc. for $428 million in cash. Noven is a provider of transdermal patch-based treatments for attention deficit hyperactivity disorder and hormone therapy.

The companies expect that Noven will continue as a standalone business unit, operating at its current locations in Miami and New York with its employees. The agreement was approved by the boards of directors of both companies and a tender offer is expected to start July 28.

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