CHICAGO (AP) -- Shares of Noven Pharmaceuticals Inc. (NasdaqNM:NOVN - News) dropped sharply Tuesday after government researchers halted a study of Wyeth Pharmaceuticals' hormone replacement therapy, citing concerns about risks of breast cancer and heart disease. ADVERTISEMENT
Noven, a Miami-based developer of drug-delivery systems, also sells hormone replacement therapies for women.
"People are just taking down anything associated with women's health," said Michael Hearle, an analyst with Leerink Swann & Co.
He said Noven's combination hormone replacement product represents "a very small percentage" of the company's revenue.
Wyeth, whose shares suffered a steep drop, said a study on combination hormone replacement therapy, or HRT, from the Women's Health Initiative Study found that combination HRT increased the risk of cardiovascular disease, and, over time, increased the risk of breast cancer.
The National Institutes of Health is discontinuing the combination HRT arm of the study due to the increased risk of invasive breast cancer and a determination of an overall lack of long-term benefit.
Wyeth paid for the follow-up study, which was published last week in the Journal of the American Medical Association, or JAMA.
A spokesperson for Noven wasn't immediately available for comment.
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