San Diego, CA 7/15/2009 12:16:47 AM
Noven Pharmaceuticals Has a Hisamitsu Hot Flash
Noven Pharmaceuticals Inc. (NOVN) is to be acquired by Hisamitsu for $428 million, in cash. The buyout overshadowed the other good news... that its menopause drug Mesafem is headed into Phase III testing.
Noven Pharmaceuticals Inc. (NOVN) shares are trading 22% higher today following the announcement of a $428 million cash acquisition offer from Japan-based Hisamitsu Pharmaceutical Co. The tender offer of $16.50 per share marks a 22.4 percent premium to NOVN's closing price of $13.48 Monday.
Investors are invited to read the entire analytical review of Noven Pharmaceuticals and its stock by registering: www.smallcapnetwork.com/s/.
In an unrelated news item, Noven Pharmaceuticals has announced that its menopause 'hot flash' drug Mesafem has met its midstage trial objectives The company now intends to take the drug into Phase III development.
About Noven Pharmaceuticals
Noven Pharmaceuticals Inc. (NOVN) is a specialty pharmaceutical company engaged in the research, development, manufacture, marketing and sale of prescription pharmaceutical products. Noven's business and operations are focused in three principal areas - transdermal drug delivery, the Novogyne Pharmaceuticals joint venture, and Noven Therapeutics, Noven's specialty pharmaceutical marketing and sales unit. Noven is committed to developing and offering products and technologies that meaningfully benefit patients, its customers and its industry partners. For more information, visit www.noven.com.
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Source: Small Cap Network
http://community.smallcapnetwork.com/Small-Cap-Stocks-HITK-NOVN-ININ-and-AANB-Post-Significant-Gains/s/article/view/p/mid/1/id/139/
