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Depomed Inc (DEPO.OQ)

DEPO.OQ on NASDAQ Stock Exchange Global Select Market

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13 Aug 2018
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Latest Key Developments (Source: Significant Developments)

Depomed Says Is Currently Engaged In Settlement Discussions With Purdue Pharma
Monday, 9 Jul 2018 

July 9 (Reuters) - Depomed Inc ::DEPOMED - ON JULY 9, 2018, DEPOMED INC ANNOUNCED THAT IT IS CURRENTLY ENGAGED IN SETTLEMENT DISCUSSIONS WITH PURDUE PHARMA L.P - SEC FILING.DEPOMED - DEPOMED IN DISCUSSIONS WITH PURDUE PHARMA IN CONNECTION WITH ONGOING PATENT INFRINGEMENT LITIGATION BETWEEN THE COMPANY AND PURDUE - SEC FILING.DEPOMED SAYS CASE & ANY PENDING MOTIONS HAVE BEEN ADMINISTRATIVELY TERMINATED, PENDING OUTCOME OF DISCUSSIONS BETWEEN CO & PURDUE.  Full Article

Starboard Value Cuts Stake In Depomed Inc To 4.3 Pct
Tuesday, 22 May 2018 

May 22 (Reuters) - Depomed Inc ::STARBOARD VALUE LP CUTS STAKE IN DEPOMED INC TO 4.3 PERCENT AS OF MAY 18 FROM PREVIOUS STAKE OF 6.1 PERCENT AS OF MAY 10 - SEC FILING.  Full Article

Depomed Q1 Earnings Per Share $0.48
Thursday, 10 May 2018 

May 10 (Reuters) - Depomed Inc ::ANNOUNCES FIRST-QUARTER 2018 FINANCIAL RESULTS.Q1 GAAP EARNINGS PER SHARE $0.48.Q1 REVENUE $128.4 MILLION.Q1 REVENUE VIEW $65.8 MILLION -- THOMSON REUTERS I/B/E/S.Q1 EARNINGS PER SHARE VIEW $0.17 -- THOMSON REUTERS I/B/E/S.INC - CONFIRMS PREVIOUS 2018 GUIDANCE FOR NEUROLOGY FRANCHISE NET SALES AND NON-GAAP ADJUSTED EBITDA.QTRLY ADJUSTED EARNINGS PER SHARE $0.28.  Full Article

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.  Full Article

Collegium To License Rights To Commercialize Nucynta Franchise
Monday, 4 Dec 2017 

Dec 4 (Reuters) - Collegium Pharmaceutical Inc ::COLLEGIUM TO LICENSE RIGHTS TO COMMERCIALIZE NUCYNTA FRANCHISE.COLLEGIUM PHARMACEUTICAL INC - DEAL IS IMMEDIATELY ACCRETIVE.COLLEGIUM PHARMACEUTICAL INC - ENTERED INTO A DEFINITIVE COMMERCIALIZATION AGREEMENT WITH DEPOMED.COLLEGIUM PHARMACEUTICAL - FOR FIRST FOUR YEARS OF AGREEMENT, COLLEGIUM WILL PAY A MINIMUM ANNUAL LICENSE FEE OF $135.0 MILLION PAID QUARTERLY IN ARREARS.COLLEGIUM PHARMACEUTICAL - FOR FIRST FOUR YEARS OF AGREEMENT, COLLEGIUM WILL ALSO PAY DOUBLE-DIGIT ROYALTIES ON NET SALES ABOVE $233.0 MILLION PER YEAR.COLLEGIUM PHARMACEUTICAL - AFTER 12 MONTHS, CO MAY TERMINATE AGREEMENT WITH TWELVE MONTHS' NOTICE AND PAYMENT OF A $25.0 MILLION TERMINATION FEE.COLLEGIUM PHARMACEUTICAL INC - AFTER FOUR YEARS OF AGREEMENT, COLLEGIUM WILL PAY DOUBLE-DIGIT ROYALTIES ON ALL NET SALES.COLLEGIUM PHARMACEUTICAL INC - TRANSACTION HAS BEEN APPROVED BY COLLEGIUM'S AND DEPOMED'S BOARD OF DIRECTORS.COLLEGIUM PHARMACEUTICAL INC - EXPECTS TO SUPPORT NUCYNTA FRANCHISE WITH ITS EXISTING RETAIL AND HOSPITAL FIELD FORCES.COLLEGIUM PHARMACEUTICAL INC - WILL RECEIVE AN EXCLUSIVE SUBLICENSE TO COMMERCIALIZE NUCYNTA AND NUCYNTA ER IN UNITED STATES.  Full Article

Depomed announces Q3 loss of $0.25 per share
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Depomed Inc :Depomed inc sees ‍2017 total revenue $375 to $380 million​.Sees ‍2017 non-gaap adjusted ebitda $104 to $109 million​.Depomed inc sees ‍2017 non-gaap total revenue $380 to $385 million​.Q3 adjusted non-GAAP earnings per share $0.14.Q3 GAAP loss per share $0.25.Q3 revenue $95 million versus i/b/e/s view $99.1 million.Q3 earnings per share view $0.11 -- Thomson Reuters I/B/E/S.FY 2017 revenue view $396.3 million -- Thomson Reuters I/B/E/S.Company will experience temporary outages of certain strengths of nucynta er in q4​.Based on current inventory, manufacturer's potential ability to produce nucynta er supply, expect magnitude of outages to be less than $10 million​.Company believes it has an adequate inventory of gralise, which is manufactured in Puerto Rico​.Does not anticipate material disruption to nucynta ir supply from new third party manufacturer in the u.s.​.  Full Article

Depomed and Slán Medicinal Holdings announce strategic asset transactions
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Depomed Inc :Depomed and Slán Medicinal Holdings Ltd announce strategic asset transactions.Depomed Inc - ‍Slán Medicinal Holdings limited to acquire Lazanda from Depomed​.Depomed - co to buy from Slán rights to market specialty drug, cosyntropin in united states and divest its Lazanda nasal spray cii to Slán​.Depomed - intends to seek approval for cosyntropin in u.s., subsequent to approval co, Slán to share in net sales of Cosyntropin for 10-year period​.  Full Article

PDL Biopharma announces settlement agreement with Valeant
Monday, 30 Oct 2017 

Oct 30 (Reuters) - PDL Biopharma Inc :PDL Biopharma announces settlement agreement with Valeant.PDL Biopharma - ‍Valeant to pay a one-time, lump-sum payment of $13.0 million as part of settlement.PDL Biopharma - ‍Valeant's one-time, lump-sum payment will be transferred to co pursuant to terms of Depomed royalty agreement.PDL Biopharma - ‍Valeant's one-time, lump-sum payment to co will not recognized as revenue by Depomed​.PDL - ‍depomed, co to release Valeant from claims against it arising from royalty audit, Valeant's obligation to pay royalties during audit period​.PDL Biopharma Inc- ‍valeant will release Depomed, co from all claims against them as a result of audit and/or litigation​.PDL - ‍entered into settlement with Valeant that resolves matters relating to "alleged underpayment of royalties by Valeant"​.  Full Article

Depomed ‍provides information on impact of hurricane Maria to supply of NUCYNTA ER​
Tuesday, 10 Oct 2017 

Oct 10 (Reuters) - Depomed Inc : :Says ‍provides information on impact of hurricane Maria to supply of NUCYNTA ER​.Depomed Inc - ‍most recent assessment that co has received from manufacturer of NUCYNTA ER indicates that facility in Puerto Rico suffered minor damage.Depomed Inc - ‍company's Q3 product revenue was negatively impacted by approximately $2 to $3 million​ due to hurricane Maria.Depomed Inc says site leaders at facility in Puerto Rico​ are working to return facility to full operation.Depomed Inc - ‍expects its Q4 product revenue may be negatively impacted by less than $10 million​.Says ‍NUCYNTA ER is manufactured in Puerto Rico by company's third party manufacturing partner​.Depomed - ‍co will provide an update to its full year 2017 financial guidance and on NUCYNTA ER supply situation during its Q3 conference call in early November​.Depomed - ‍does not currently anticipate, based on information available to it at this time, any material disruption to supply of NUCYNTA IR or Gralise​.  Full Article

BRIEF-Starboard Value Cuts Stake In Depomed Inc To 4.3 Pct

* STARBOARD VALUE LP CUTS STAKE IN DEPOMED INC TO 4.3 PERCENT AS OF MAY 18 FROM PREVIOUS STAKE OF 6.1 PERCENT AS OF MAY 10 - SEC FILING Source text: (https://bit.ly/2J3k2sc) Further company coverage: