Hisamitsu Pharmaceutical Announces Expiration of Initial Tender Offer Period for Outstanding Shares of Noven Pharmaceuticals Inc. and Commencement of Subsequent Offering Period
TOSU, SAGA, Japan, Aug. 20 /PRNewswire/ -- Hisamitsu Pharmaceutical Co., Inc. , Hisamitsu U.S., Inc. and Northstar Merger Sub, Inc. today announced the completion of the initial tender offer period for all outstanding shares of Noven Pharmaceuticals, Inc. common stock and the commencement of a subsequent offering period that will expire at 12:00 midnight on Wednesday, August 26, 2009, unless extended.
The initial offering period for the tender offer expired at 12:00 Midnight, New York City time, on Wednesday, August 19, 2009, with approximately 21.94 million shares of Noven common stock (including approximately 340,000 shares tendered by notice of guaranteed delivery and the shares previously owned by Hisamitsu Pharmaceutical Co., Inc.) tendered pursuant to the offer. The shares tendered represent approximately 87.41% of the outstanding shares of Noven's common stock. All shares tendered and not withdrawn have been accepted for payment by Northstar Merger Sub in accordance with the terms of the tender offer.
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.