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Stavzor

Hisamitsu Pharmaceutical Co., Inc.

Drug Names(s): Valproic acid softgel

Description: Stavzor is a twice-daily formulation of valproic acid in enteric-coated soft gelatin capsule form. Valproic acid dissociates to the valproate ion in the gastrointestinal tract. The mechanisms by which valproate exerts its antiepileptic effects have not been established. It has been suggested that its activity in epilepsy is related to increased brain concentrations of gamma-aminobutyric acid (GABA). Valproic acid may also have effects on intracellular signalling and neuroprotective factors that are active in bipolar disorder.

Deal Structure: Noven and JDS
Noven completed in August 2007 the acquisition of JDS Pharmaceuticals for approximately $125 million cash at closing plus the assumption of approximately $10 million in net liabilities. Included in the acquisition was Stavzor.

Noven and Banner
Stavzor utilizes a capsule delivery system (the EnteriCare enteric soft gelatin capsule delivery system) pursuant to a license with Banner Pharmacaps.

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,...See full deal structure in Biomedtracker

Partners: Patheon, Inc.


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