Noven Pharmaceuticals, Inc.
Noven participates primarily in the large, growing global market for hormone replacement therapies (HRT), particularly therapies indicated for the treatment of menopause. There are more than 40 million post-menopausal women in the United States, and this group is expected to grow by 50% within the next decade. Worldwide sales of all hormone replacement products, including those delivered transdermally, approach $3.0 billion annually. With the aging of the world's population, conditions and diseases such as menopause, osteoporosis and heart disease, which may benefit from hormone replacement therapy, are expected to become significantly more prevalent.
Noven's systems deliver drugs painlessly and effectively utilizing an adhesive patch containing medication. When adhered to the skin or to the mucosal areas inside the mouth, medication is delivered through the tissues and into the bloodstream over an extended period of time. Noven's drug delivery systems may offer significant advantages over conventional oral and parenteral dosage forms, including non-invasive administration, controlled delivery over an extended period of time, improved patient compliance, and avoidance of certain problems and adverse side-effects that may be associated with oral and parenteral drug delivery.
In business since 1987, Noven has become a fully integrated pharmaceutical company, capable of taking innovative products through the entire commercialization process, including research, development, clinical testing, regulatory approval, manufacturing, marketing and sales. Supplementing its internal capabilities, Noven has forged close business relationships with some of the largest pharmaceutical companies in the world, including Aventis S.A. and Novartis Pharmaceuticals. Noven is also the joint owner (with Novartis) of a women's health products company called Novogyne Pharmaceuticals (a.k.a. Vivelle Ventures LLC), which has a 110-person contract sales force.
Noven's manufacturing facility (located in Miami, Florida) is approved by the FDA and by the Medicines Control Agency of the United Kingdom, and has the capacity to manufacture approximately 400 million patches per year. Presently six commercialized products are manufactured and packaged for distribution from this facility. Noven's facilities are also certified by the U.S. Drug Enforcement Agency for the manufacture of certain controlled substances.
Noven's strategy for continued growth and profitability is to utilize its proprietary transdermal and transmucosal drug delivery technology to establish a leadership position in these fields. In pursuing this strategy, Noven intends to focus on developing products for the following therapeutic areas: hormone replacement therapy, cardiovascular disease, central nervous system conditions and pain management. In particular, the company is developing a transdermal methylphenidate patch for Attention Deficit Hyperactivity Disorder.
With a rich pipeline of new products in development, several of which could be commercialized in the next three to five years, Noven is well positioned for continued excellence, innovation and long-term growth.