Noven signs transdermal development agreement with P&G

Published: 8-May-2003

Miami-based Noven Pharmaceuticals, developer of advanced transdermal drug delivery technologies, has signed an agreement to develop new prescription transdermal delivery systems for P&G Pharmaceuticals, a subsidiary of The Procter & Gamble Company.


Miami-based Noven Pharmaceuticals, developer of advanced transdermal drug delivery technologies, has signed an agreement to develop new prescription transdermal delivery systems for P&G Pharmaceuticals, a subsidiary of The Procter & Gamble Company.

Under the agreement, Noven will receive up to $7.8m (€6.8m), payable in instalments if certain development milestones are achieved. Development efforts under the agreement are expected to continue through 2004.

'Although we have not disclosed the compounds incorporated in the new patches, they target a therapeutic category with outstanding commercial potential,' said Robert Strauss, Noven's president, ceo and chairman. 'With a product pipeline that includes dextroamphetamine and fentanyl patches, as well as more than 20 other formulated patch products, we are optimistic that additional development collaborations lie ahead.'

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