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<SEC-DOCUMENT>0000950123-10-035075.txt : 20100804
<SEC-HEADER>0000950123-10-035075.hdr.sgml : 20100804
<ACCEPTANCE-DATETIME>20100415103953
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-10-035075
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20100415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVOGEN LTD
		CENTRAL INDEX KEY:			0001075880
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		140 WICKS RD
		STREET 2:		NORTH RYDE
		CITY:			NEW SOUTH WALES 2113
		STATE:			C3
		ZIP:			2113
		BUSINESS PHONE:		01161298780088

	MAIL ADDRESS:	
		STREET 1:		107 NORTH RYDE
		CITY:			SYDNEY
		STATE:			C3
		ZIP:			1670
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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<HTML>
<HEAD>
<TITLE>corresp</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><IMG src="y83891y8389101.gif" alt="(NOVOGEN LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: -6pt">April&nbsp;15,
2010

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">U.S. Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Re:</TD>
    <TD>&nbsp;</TD>
    <TD>Novogen Limited<br>
Form&nbsp;20-F for the fiscal year ended June&nbsp;30, 2009<br>
Filed December&nbsp;15, 2009<br>
File No.&nbsp;000-29962</TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is the response of Novogen Limited (the &#147;Company&#148;) to the comments set
forth in the letter, dated April&nbsp;8, 2010, from the staff (the &#147;Staff&#148;) of the U.S. Securities and
Exchange Commission (the &#147;SEC&#148;) with respect to the Company&#146;s Annual Report on Form 20-F for the
fiscal year ended June&nbsp;30, 2009 (File No.&nbsp;000-29962).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Set forth below is the Staff&#146;s comment in italics followed by the Company&#146;s response.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><u><I>Income Statements, page 81</I></u>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>1. Please disclose the nature of the costs that are included in cost of sales and whether and, if
so, to what extent cost of sales includes costs for each item of revenue (i.e. sale of goods, bank
interest, licence fees, royalties, dividends and other). Further please disclose in &#147;Operating and
financial Review and Prospects&#148; the reason that the percentage decrease in cost of sales is much
higher than the percentage decrease in revenues for 2007 compared to 2008 and for 2008 compared to
2009.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response: </B>Cost of Sales represented in the Income Statements on page 81 includes only costs
associated with the sale of goods. The percentage decrease in cost of sales is higher than the
percentage decrease in revenue, for 2007 compared to 2008 and for
2008 compared to 2009. This is
primarily due to improved gross margins on the Company&#146;s consumer products achieved through
sourcing key active ingredients from a lower cost third party manufacturer, following the decision
to close the Company&#146;s production facility at Wyong NSW in 2007. Sales of product manufactured
from lower cost active ingredient commenced during fiscal year 2008  having a
favourable impact on cost of sales for part of that year. Cost of sales as a percentage of sales
in fiscal year 2009 continued to decline due to the annualized impact of lower cost active
ingredient.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company respectfully requests that it be permitted to include revised disclosure clarifying
the reasons for the decrease in cost of sales as requested by comment 1 in applicable future
filings, including its Annual Report on Form 20-F for the fiscal year ended June&nbsp;30, 2010, rather
than amend its Annual Report on Form 20-F for the fiscal year ended June&nbsp;30, 2009 to include such
disclosure.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company proposes to change the disclosure in applicable future filings, including in its
Annual Report on Form 20-F for the fiscal year ended June&nbsp;30, 2010, under the heading &#147;Operating
Results Fiscal 2009 compared to Fiscal 2008&#148; which appears on page 36 of the Company&#146;s Annual Report on Form
20-F for the fiscal year ended 2008 as follows.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Costs and expenses</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Total expenses before interest and tax decreased by A$4.8&nbsp;million to A$34.9&nbsp;million for the
year ended June&nbsp;30, 2009 compared to A$39.7&nbsp;million for the year ended June&nbsp;2008. Cost of sales
decreased A$1.6&nbsp;million corresponding with reduced sales from Europe and Canada and improved gross
margins on consumer product sales through sourcing active ingredients from a lower cost third
party manufacturer,
</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 150pt; margin-left: 2%">Novogen
Limited ABN 37 063 259 754 140 Wicks Road, North Ryde NSW 2113,
Australia Telephone +61 2
9878 0088<BR>
 Facsimile
+61 2 9878 0055 novogen@novogen.com www.novogen.com
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">following
the decision to close the Company&#146;s production facility at Wyong NSW in 2007. Sales
of product manufactured from lower cost active commenced during fiscal year 2008 having a
favourable impact on cost of sales for part of that year. Cost of sales as a percentage of sales in
fiscal year 2009 continued to decline due to the annualized impact of lower cost active ingredient.
General and Administrative Expenses were favourably impacted by A$3.1&nbsp;million due primarily to
favourable currency movements. These savings were partially offset by an increase in selling and
promotional expense of A$0.4&nbsp;million. This increase was due to expenses associated with a decision
to discontinue the weight loss product Aliten following disappointing consumer uptake post launch.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><u><I>Notes to the Financial Statements</I></u><BR>
<u><I>Note 1. Summary of Significant Accounting Policies</I></u><BR>
<u><I>Statement of Compliance, page 85</I></U>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>2. Item 17(c) of Form 20-F requires that if the financial statements comply with IFRS as issued by
the IASB, such compliance must be unreservedly and explicitly stated in the notes to the financial
statements. If this requirement has been met, please revise your disclosure to explicitly state
that the financial statements do comply with IFRS as issued by the IASB. Please remove the
disclosure regarding compliance with AIFRS since stating that there are no significant differences
between the primary GAAP used in the preparation of the financial statements and IFRS does not
satisfy the requirement in Item 17(c) of Form 20-F.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response: </B>The following reflects the revised disclosure requested by comment 2. The Company
respectfully requests that it be permitted to include the following disclosure in its Annual
Report on Form 20-F for the fiscal year ended June&nbsp;30, 2010 rather than amend its Annual Report on
Form 20-F for the fiscal year ended June&nbsp;30, 2009 to include such disclosure.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the heading &#147;Statement of Compliance&#148; on page 85 we will remove the words &#147;The financial
report complies with Australian Accounting Standards, being Australian equivalents to
International Financial Reporting Standards (AIFRS). Compliance with AIFRS ensures that the
financial report, comprising the financial statements and notes thereto, complies with
International Financial Reporting Standards&#148; and replace with the words &#147;The consolidated
financial statements contained herein comply with International Financial Reporting Standards
(IFRS)&nbsp;as issued by the International Accounting Standards Board (IASB).&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company acknowledges that:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company is responsible for the adequacy and accuracy of the disclosure in the
filings;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Staff comments or changes to disclosure in response to Staff comments
do not foreclose
the SEC from taking any action with respect to the filing; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company may not assert Staff comments as a defence in any
proceeding initiated by the SEC or any person under the federal securities laws
of the United States.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Sincerely</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">NOVOGEN LIMITED</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ David Seaton
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">David Seaton</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
