Issue Date: July 20, 2009
Japanese Drugmaker to Acquire U.S. Firm
Japan's Hisamitsu Pharmaceutical has offered to acquire Miami-based Noven Pharmaceuticals for $430 million. Both companies develop transdermal drug delivery systems, or patches, mostly focusing on women's health, central nervous system diseases, and pain relief. Hisamitsu already owns 5% of Noven and considers acquiring the firm a quick way to boost its U.S. presence. Employing 610 people, Noven recorded sales of $109 million in 2008. Hisamitsu mostly develops pain relief patches and skin treatments.
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