Noven to buy JDS Pharma in $125M deal

Florida, USA-based Noven Pharmaceuticals says that it has agreed to acquire privately-held JDS Pharmaceuticals for around $125.0 million cash at closing, plus the assumption of about $10.0 million in net liabilities. Headquartered in New York City, JDS currently markets two branded prescription psychiatry products through a targeted sales force and is advancing a pipeline of high-potential products in psychiatry and women's health.

The acquisition, which is expected to close by early August, provides Noven with substantial immediate, mid-term and long-term benefits, the firm says, including:

- a self-supporting, leveragable marketing/sales infrastructure, with two high-margin marketed products - Lithobid (lithium carbonate) and Pexeva (paroxetine mesylate) - and expertise in the psychiatry category;