Wednesday, 5 August 2009

Japan and USA - Hisamitsu to Acquire Noven Pharmaceuticals

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)

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