Noven gets final $25M Shire milestone
US firm Noven Pharmaceuticals says it has been advised by the UK's Shire that its net sales of Daytrana (methylphenidate transdermal system) have triggered the third and final $25.0 million sales milestone due to be paid to Noven. Payment of the milestone was triggered upon Shire's net turnover of of the drug exceeding $75.0 million in the 12 months preceding June 30, 2008. As with prior Daytrana sales milestones, Noven expects to defer recognition of the latest one and book it as license revenues over time.
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