Noven Pharmaceuticals, Inc.

Noven Pharmaceuticals, Inc. (Noven) is a specialty pharmaceutical company engaged in the research, development, manufacture and marketing of prescription pharmaceutical products. The company operates through three segments; Noven Transdermals, Novogyne, and Noven Therapeutics. Its key products include Vivelle-Dot, CombiPatch, Estradot, Estalis, Stavzor, Pexeva, Lithobid and Daytrana. The company is headquartered i in Florida, the US.

On 14th July, 2009, Hisamitsu Pharmaceutical Co., Inc., a Japan-based pharmaceutical company, entered into a definitive agreement to acquire all of the outstanding shares of Noven Pharmaceuticals, Inc., for a purchase consideration of $430 million or $16.5 per share in cash. Following the completion of the transaction, Noven will become a wholly-owned subsidiary of Hisamitsu.The company reported revenues of (U.S. Dollars) USD 108.18 million during the fiscal year ended December 2008, an increase of 30.08% over 2007. The operating loss of the company was USD 14.31 million during the fiscal year 2008, as compared to an operating loss of USD 111.56 million during 2007. The net profit of the company was USD 21.41 million during the fiscal year 2008, whereas the company reported a net loss of USD 45.38 million during 2007.