Noven Pharmaceuticals, Inc. today announced that it has completed the acquisition of global rights to Daytrana® (methylphenidate transdermal system) from affiliates of Shire plc ("Shire").
Daytrana was originally licensed globally to Shire by Noven in 2003 and was approved and launched in the U.S. in 2006. The product is indicated for the treatment of Attention Deficit Hyperactivity Disorder ("ADHD") in patients 6 to 17 years old. Daytrana should be used as part of a total treatment program for ADHD that may include counseling or other therapies. Shire's net sales of the product for the first half of 2010 were $34.7 million.
Daytrana will be marketed and sold by Noven Therapeutics, Noven's specialty pharmaceuticals marketing and sales unit. Noven Therapeutics currently promotes the oral prescription products Pexeva®, Stavzor® and Lithobid® to psychiatrists and other appropriate physicians in the U.S. Daytrana product availability will not be interrupted or otherwise affected by the acquisition or by the transfer of the product to Noven.
Jeffrey Eisenberg, Noven's President and Chief Executive Officer, said: "We are very pleased to complete the acquisition and to add Daytrana − a product developed and manufactured by Noven − to the portfolio of products that we market and sell through Noven Therapeutics. I extend my thanks and appreciation to Shire for their partnership and support during the period of their license of Daytrana, and to both the Noven and Shire teams who made the transaction happen. Daytrana continues to represent an important therapeutic option in the treatment of ADHD. As an organization, we're excited to begin active promotion of the product, with the goal of increasing awareness of Daytrana and helping patients, physicians and caregivers manage the symptoms of ADHD."
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