Noven Pharmaceuticals (NOVN) Updates Production and Prescription Information on Daytrana
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Noven Pharmaceuticals, Inc. (NASDAQ: NOVN) provided an update on production and prescription information related to its Daytrana methylphenidate transdermal system.
Noven announced that the U.S. Drug Enforcement Administration (DEA) has granted Noven additional methylphenidate quota for 2006 related to the production of Daytrana). The grant follows Noven's prior statements that it was seeking additional methylphenidate quota for 2006 from the DEA in order to fulfill product orders from Shire plc. Shire is the exclusive, global licensee of Daytrana, which was developed and is manufactured by Noven.
Methylphenidate, the active ingredient in Daytrana, is a Schedule II controlled substance regulated by the DEA. Manufacturers of products containing such substances must apply under the DEA's quota process in order to receive the active ingredient required for production.
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