Navigation Links
Hisamitsu Pharmaceutical Announces Expiration of HSR Waiting Period for Its Proposed Acquisition of Noven Pharmaceuticals
Date:8/13/2009

TOSU, SAGA, Japan, Aug. 13 /PRNewswire/ -- Hisamitsu Pharmaceutical Co., Inc. (TSE: 4530), Hisamitsu U.S., Inc. and Northstar Merger Sub, Inc., today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), at 11:59 p.m., New York City time, on August 12, 2009, with respect to the previously announced proposed acquisition of Noven Pharmaceuticals, Inc. (Nasdaq: NOVN).

Hisamitsu, through its wholly owned subsidiary, Northstar Merger Sub, Inc., commenced a cash tender offer to purchase all outstanding shares of Noven's common stock, together with the associated Series A junior participating preferred stock, on July 23, 2009 at an offer price of $16.50 per share of common stock. The tender offer is being conducted on the terms and subject to the conditions described in the Offer to Purchase, dated July 23, 2009, and the related Letter of Transmittal, which have been filed as part of a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission (SEC). The tender offer will expire at midnight, New York City time, on August 19, 2009, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC.

The termination of the waiting period under the HSR Act satisfies one of the conditions to the tender offer. It has also been confirmed that there is no pre-filing requirement under the Foreign Exchange and Foreign Trade Law of Japan (Law No. 228 of 1949, as amended). The closing of the tender offer is also conditioned on the tender of at least a majority of the outstanding shares of Noven's common stock and the satisfaction of other customary conditions.

The Depositary for the tender offer is American Stock Transfer and Trust Company, 59 Maiden Lane, Plaza Level, New York, NY 10038. The Information Agent for the tender offer is Georgeson Inc., 199 Water Street, 26th Floor, New York, NY 10038.

About Hisamitsu

Hisamitsu Pharmaceutical Co., Inc. is a leading pharmaceutical company that develops and markets prescription and over-the-counter ("OTC") pharmaceutical products using transdermal delivery systems technology. Its leading product in prescription pharmaceuticals is its Mohrus((R)) series (ketoprofen patch for pain), and its leading brand in the OTC business is Salonpas((R)). The company was founded in 1847 and is located in Saga, Japan. Additional information is available through its corporate website, http://www.hisamitsu.co.jp.

Additional Information

This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Noven. Hisamitsu has filed a tender offer statement with the SEC, and mailed an offer to purchase, forms of letter of transmittal and related documents to Noven shareholders. Noven has filed with the SEC, and mailed to Noven shareholders, a solicitation/recommendation statement on Schedule 14D-9. These documents contain important information about the tender offer and shareholders of Noven are urged to read them carefully.

These documents are available at no charge at the SEC's website at www.sec.gov. The tender offer statement and the related materials may be obtained for free by directing a request by mail to Georgeson Inc., 199 Water Street, 26th Floor, New York, New York 10038 or by calling toll-free 888-897-6012.


'/>"/>
SOURCE Hisamitsu Pharmaceutical Co., Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Hisamitsu Pharmaceutical Co., Inc. Begins Tender Offer for All Outstanding Shares of Noven Pharmaceuticals, Inc.
2. Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Mercks Generic Pharmaceutical Business
3. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
4. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
5. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
6. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
7. National Pharmaceutical Council Announces New Strategic Focus, Search for New Leadership
8. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Coreg(R)
9. Provectus Pharmaceuticals, Inc. Begins Phase 2 Clinical Trial for Metastatic Melanoma
10. Par Pharmaceutical Files Form 10-K for 2006 -- Company to Hold First Analysts Meeting September 28, 2007
11. Idenix Pharmaceuticals to Present at Two Upcoming Investor Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/17/2017)... OAKLAND, CA (PRWEB) , ... January 17, 2017 , ... ... been named winners of the fourth Cradle to Cradle Product Design Challenge , ... the fourth in a series of six circular design challenges scheduled to run through ...
(Date:1/17/2017)... NJ (PRWEB) , ... January 17, 2017 , ... Neil ... and financial planning assistance to communities throughout the region, is launching a charity drive ... Heart disease is by far the deadliest killer in America, and is responsible for ...
(Date:1/17/2017)... ... , ... SC&H Group, a leading audit, tax, and consulting firm, announced that ... Services practice . Rossi is the third technology consulting leader to join SC&H Group’s ... and the practice continues to expand.     , Bringing more than 25 years of business ...
(Date:1/17/2017)... ... 17, 2017 , ... Seceon , the only threat ... today announced a strategic partnership with TechLab Security, a leading Enterprise ... TechLab Security has become a strategic partner and a value added reseller of ...
(Date:1/17/2017)... ... January 17, 2017 , ... The ... in Tyler, has announced the latest beneficiary of their thriving community involvement program. ... organization dedicated to fulfilling the dreams of terminally ill patients. Donations to this ...
Breaking Medicine News(10 mins):
(Date:1/17/2017)... Ind. , Jan. 17, 2017  Zimmer Biomet ... in musculoskeletal healthcare , today announced that ... on the strength of the Zimmer Biomet management ... Delp will assume the position of President, ... the Company. Mr. Delp previously served as Zimmer Biomet,s ...
(Date:1/17/2017)... Research and Markets has announced the addition of the ... ... report, identifies and profiles the leading 200 manufacturers and distributors of molecular ... the United States and Europe ... Profile information for each company in The Top 200 ...
(Date:1/17/2017)... Minn. , Jan. 17, 2017  ANI ... today announced the appointment of Karen Quinn Ph.D ... 17, 2017.  Karen Quinn ... of leadership experience in Global Regulatory Affairs, specifically ... active pharmaceutical ingredients.  Dr. Quinn worked most recently ...
Breaking Medicine Technology: