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Hisamitsu Pharmaceutical Co., Inc.

Drug Names(s): Lithium carbonate

Description: The exact mechanism of action of Eskalith is unknown. While it alters sodium transport in nerve cells, its impact in bipolar disorder takes longer to take effect, so other mechanisms are thought to be involved. These may include modulating gene expression and signalling pathways involved in neuroprotection, neuroplasticity, and cell growth, as well as modulation of neurotransmitters.

Deal Structure: GSK and Noven
Eskalith was originally developed by GSK, but the drugs was sold to specialty pharmaceutical JDS Pharma in September 2007. JDS Pharma had been acquired by Noven in August 2007 for approximately $125 million cash at closing plus the assumption of approximately $10 million in net liabilities.

Hisamitsu and Noven
In July 2009, Noven Pharmaceuticals and Hisamitsu Pharmaceutical jointly announced that they entered into a definitive merger agreement pursuant to which Hisamitsu proposed to acquire Noven for total cash consideration of approximately $428 million, or $16.50 per share, in an all-cash tender offer for 100% of the outstanding shares of Noven.

The acquisition is expected to be effectuated through a cash tender offer by a wholly-owned subsidiary of Hisamitsu for the outstanding shares of Noven. The tender offer, if successful, would be followed by the merger of the Hisamitsu subsidiary with and into Noven, with Noven surviving as a...See full deal structure in Biomedtracker

Eskalith News

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