Noven Announces Dismissal of Securities Litigation

-- Noven Pharmaceuticals, Inc. (NASDAQ:NOVN) announced today that the United States District Court for the Southern District of Florida has issued an order dismissing without prejudice a lawsuit filed against Noven and certain individual defendants styled In re Noven Pharmaceuticals, Inc. Securities Litigation.

The notice of voluntary dismissal (attached to the order of dismissal) indicates that the lead plaintiffs and their counsel, after investigation into the allegations made in their complaint, concluded that the complaint should be voluntarily dismissed. Noven agreed to the dismissal, with each party bearing its own costs.

Noven Pharmaceuticals, Inc., headquartered in Miami, Florida, is a leading developer of advanced transdermal drug delivery technologies and prescription transdermal products. For additional information on Noven, visit http://www.noven.com.

Contact:
Joseph C. Jones
Vice President – Corporate Affairs
Noven Pharmaceuticals, Inc.
305-253-1916