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Hisamitsu Pharmaceutical Announces Expiration of HSR Waiting Period for Its Proposed Acquisition of Noven Pharmaceuticals Inc. (NOVN)


8/13/2009 12:19:27 PM

TOSU, SAGA, Japan, Aug. 13 /PRNewswire/ -- Hisamitsu Pharmaceutical Co., Inc. , 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. .

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.

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.

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.

Hisamitsu Pharmaceutical Co., Inc.






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