Depomed Expands Geographic Scope of License Agreement with Merck for Extended
Release Metformin Patents
NEWARK, Calif., Sept. 9, 2013
NEWARK, Calif., Sept. 9, 2013 /PRNewswire/ --Depomed, Inc. (NASDAQ: DEPO)
announced today it has expanded the geographic scope of its non-exclusive
license agreement with a subsidiary of Merck for certain patents directed to
metforminextended release technology for use inJANUMET^® XR (sitagliptin and
metformin hydrochloride (HCl) extended-release). The territory covered by the
license agreement is now worldwide.
Under terms of the agreement originally entered into in July 2009, Merck
receives a non-exclusive license as well as other rights to certain Depomed
patents directed to metformin extended release technology. Through the
expiration date of the patents, Depomed will receive modest royalties on net
product sales of JANUMET^® XR in countries in which the licensed patents cover
Depomed, Inc. is a specialty pharmaceutical company with four approved and
marketed products. Gralise^® (gabapentin) is a once-daily treatment approved
for the management of postherpetic neuralgia (PHN). Zipsor^® (diclofenac
potassium) Liquid Filled Capsules is a non-steroidal anti-inflammatory drug
(NSAID) indicated for relief of mild to moderate acute pain in adults.
Lazanda^® (fentanyl) Nasal Spray is an intranasal fentanyl drug used to manage
breakthrough pain in adults (18 years of age or older) who are already
routinely taking other opioid pain medicines around-the-clock for cancer
pain. Glumetza^® (metformin hydrochloride extended release tablets) is
approved for use in adults with type 2 diabetes and is commercialized by
Santarus, Inc. in the United States. Gralise and Glumetza and other product
candidates are formulated with Depomed's proven, proprietary Acuform^® drug
delivery technology, which is designed to improve existing oral medications,
allowing for extended release of medications to the upper gastrointestinal
tract when dosed with food. Additional information about Depomed may be found
on its website, www.depomed.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995. The statements that are not historical facts contained in this release
are forward-looking statements that involve risks and uncertainties including,
but not limited to, those related to Depomed's license agreement with Merck
and other risks detailed in the company's Securities and Exchange Commission
filings, including the company's Annual Report on Form 10-K for the year ended
December 31, 2012 and most recent Quarterly Report on Form 10-Q. The inclusion
of forward-looking statements should not be regarded as a representation that
any of the company's plans or objectives will be achieved. You are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date hereof. The company undertakes no obligation to publicly
release the result of any revisions to these forward-looking statements that
may be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
CONTACT: August Moretti
SOURCE Depomed, Inc.
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