Company Profile For Noven Pharmaceuticals Inc

Noven Pharmaceuticals, Inc. (Noven) is a specialty pharmaceutical company engaged in the research, development, manufacturing, licensing, marketing and sale of prescription pharmaceutical products. Its business is focused in three segments: Noven Transdermals, its transdermal drug delivery segment; Novogyne Pharmaceuticals (Novogyne), its women’s health joint venture with Novartis Pharmaceuticals Corporation (Novartis), and Noven Therapeutics, its specialty pharmaceutical segment. The Company’s primary commercialized products include prescription transdermal patches utilizing its proprietary transdermal drug delivery technology for use in the treatment of Attention Deficit Hyperactivity Disorder (ADHD) and in menopausal hormone therapy. In August 2009, Hisamitsu Pharmaceutical Co., Ltd. and Hisamitsu U.S., Inc. announced the completion of their acquisition of Noven. As a result of the transaction, Noven became a wholly owned subsidiary of Hisamitsu U.S., Inc.

BRIEF: For the six months ended 30 June 2009, Noven Pharmaceuticals, Inc.'s revenue increased 18% to $54.4M. Net income increased 66% to $11.8M. Revenues reflect a rise in sales from Novogyne, higher income from royalties and increased license & contract income. Net income also reflects lower selling & marketing expenses, decreased general & administrative expenses and higher equity in earnings of Novogyne.