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Hiamitsu Buys Noven; Salonpas Stregthens Topical Analgesic Presence

|Includes: CHTT, Johnson & Johnson (JNJ), KG

On August 27th Hisamitsu (Japan) announced the closing of its $428MM all-cash deal to acquire Noven Pharmaceuticals of Miami, FL.  Noven will remain a wholly owned, independent subsidiary of Hisamitsu.  This continues Hisamitsu's quiet but steady consolidation of its Salonpas topical analgesic business in the US at a time when conventional players like Ben Gay (NYSE:JNJ), Wellpatch (Mentholatum), and Icy Hot (CHTT) remain vulnerable to legal, technology, and regulatory challenge in the parity market defined by the FDA monographs...

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