NOVEN APPOINTS MICHAEL D. PRICE CHIEF FINANCIAL OFFICER |
BackSucceeds Diane M. Barrett, Who is Retiring After Seven Years of Service
Miami, FL, November
15, 2007 -- Noven Pharmaceuticals, Inc. (NASDAQ: NOVN) today announced
the appointment of Michael D. Price as vice president and chief financial
officer, effective November 19, 2007, succeeding Diane M. Barrett,
who is retiring at year-end.
“Michael brings to Noven a diverse financial and business planning background
as well as an extensive knowledge of the pharmaceutical industry,” said
Robert C. Strauss, Noven’s President, CEO & Chairman. “His
broad financial experience includes strategic planning, mergers and acquisitions,
capital markets, Sarbanes-Oxley compliance, financial reporting, internal controls
and procedures and risk management. We believe this impressive skill set will
serve us well as we continue to integrate the operations of our recent acquisition
and advance our growth initiatives for 2008 and beyond.”
“On behalf of the company and the entire board of directors, I would
like to thank Diane for her many contributions across the Noven organization” continued
Strauss. “Diane has agreed to assist our financial team through the
end of this year, assuring a smooth transition.”
Price, 50, comes to Noven with 25 years of experience as a financial
executive. From 1992 to 2006, he was employed by Bentley Pharmaceuticals,
Inc., a New York Stock Exchange listed specialty pharmaceuticals company,
where he served as vice president, chief financial officer, treasurer
and secretary. During nine years of his tenure at Bentley, he also acted
as a member of that company’s board of directors. Earlier in his
career, Price served as a senior executive with Carr Financial Group,
and as vice president – finance with Premiere Group, Inc.
A certified public accountant, Price began his career at PricewaterhouseCoopers.
He earned a Master of Business Administration degree from Florida State
University and a Bachelor of Science degree in Business Administration – accounting
from Auburn University.
About Noven
Noven Pharmaceuticals, Inc., headquartered in Miami, Florida, has established
itself as a leading developer of advanced transdermal drug delivery technologies
and prescription transdermal products. Its commercialized transdermal
products include Vivelle-Dot® (estradiol transdermal system),
the most prescribed estrogen patch in the U.S., and Daytrana™ (methylphenidate
transdermal system), the first and only patch approved for the treatment
of ADHD.
With the acquisition of JDS Pharmaceuticals in August 2007,
Noven has become a broader-based specialty pharmaceutical company with
a substantially enhanced late-stage product pipeline and the infrastructure,
products and category expertise to market and sell its own products.
Products
currently marketed through the Noven/JDS sales infrastructure consist
of Pexeva® (paroxetine mesylate) and Lithobid® (lithium
carbonate). Developmental products in psychiatry consist of Stavzor™ (delayed
release valproic acid softgel), Lithium QD (once-daily lithium carbonate),
and Stavzor™ ER (extended release valproic acid softgel). The development
pipeline in women’s health consists of Mesafem™ (low-dose
paroxetine mesylate), a non-hormonal product entering Phase 3 clinical
trials for vasomotor symptoms (hot flashes).
See www.noven.com for additional
information.
Contact:
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Copyright © 2007 Noven Pharmaceuticals, Inc. All rights reserved.