Edition:
United Kingdom

Depomed Announces Nucynta® Commercialization Agreement With Collegium Pharmaceutical


Monday, 4 Dec 2017 

Dec 4 (Reuters) - Depomed Inc ::DEPOMED ANNOUNCES NUCYNTA® COMMERCIALIZATION AGREEMENT WITH COLLEGIUM PHARMACEUTICAL.DEPOMED INC - RELOCATION OF COMPANY HEADQUARTERS MID-2018.DEPOMED INC - TRANSACTION IS IMMEDIATELY ACCRETIVE AND IMPROVES 2018 EBITDA OUTLOOK.DEPOMED - PLANS TO RELOCATE ITS CORPORATE HEADQUARTERS FROM NEWARK, SOMETIME IN MID-2018 & IS CURRENTLY EVALUATING POTENTIAL MIDWEST & EAST COAST LOCATIONS.DEPOMED INC - COMPANY WILL REDUCE ITS STAFF BY 40% TO APPROXIMATELY 70 EMPLOYEES AND HEADQUARTERS OFFICE SPACE REQUIREMENT BY 50%.DEPOMED INC - EXPECTS TO SAVE APPROXIMATELY $10 MILLION ANNUALLY AS A RESULT OF HEADQUARTERS RESTRUCTURING AND RELOCATION.DEPOMED INC - WILL ELIMINATE ITS PAIN SALESFORCE AND CEASE ALL BRAND SPENDING ON NUCYNTA.DEPOMED INC - BY ELIMINATING ITS PAIN SALESFORCE AND CEASE ALL BRAND SPENDING CO TO REDUCE SG&A EXPENSES BY ABOUT $70 MILLION ON AN ANNUAL BASIS.DEPOMED INC - UNDER TERMS OF AGREEMENT, COLLEGIUM WILL COMMERCIALIZE BOTH NUCYNTA EXTENDED RELEASE AND NUCYNTA IMMEDIATE RELEASE.DEPOMED INC - DEPOMED WILL RECEIVE A ROYALTY RATE ON ALL NUCYNTA REVENUES BASED ON CERTAIN NET SALES THRESHOLDS. 

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19 Jul 2019