Japan’s Hisamitsu Pharmaceutical Co will buy the USA’s Noven Pharmaceuticals for US$428 million in cash, in a deal announced on 14th July 2009.
Hisamitsu, which already has a 4.9% stake in Noven, will pay US$16.50 per share to expand its presence in the USA. Noven, which specialises in hormone therapies for women, will become a wholly owned subsidiary of Hisamitsu but will remain a standalone business unit with its current workforce.
The deal is expected to be completed in August 2009.
Further reading - Detailed reviews of the pharmaceutical markets in Japan and the USA are available from Espicom: The Pharmaceutical Market: Japan (published June 2009) and The Pharmaceutical Market: USA (published June 2009)