Noven Pharmaceuticals has received approval from the FDA for Daytrana as a new therapeutic option for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) in children aged six to twelve years. Shire, the global licensee of Daytrana, is expected to launch the product in the first half of this year.

Upon receipt of FDA approval, Noven became eligible to receive a $50 million milestone payment from Shire. Noven also has the opportunity to earn additional milestone payments of as much as $75 million depending on the level of Shire’s commercial sales of the product, and expects to earn a profit on the manufacture and supply of finished product to Shire.