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August 19, 2014
10:32 EDTACT, DEPODepomed higher after favorable ruling in Gralise case
Shares of Depomed (DEPO) moved higher after a judge in New Jersey ruled in favor of the company in the company's Gralise case against Actavis (ACT).
News For DEPO;ACT From The Last 14 Days
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November 23, 2015
07:37 EDTDEPOHorizon Pharma reinstated with a Buy at Jefferies
Jefferies analyst David Steinberg reinstated Horizon Pharma (HZNP) with a Buy rating and reduced price target of $32. The company's standalone growth "appears healthy" and a near-term deal is likely following its failed attempt to acquire Depomed (DEPO), Steinberg tells investors in a research note.
November 20, 2015
09:10 EDTDEPOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), up 16.3%... Foot Locker (FL), up 4.8%. ALSO HIGHER: Horizon Pharma (HZNP), up 1.6% after withdrawing offer to acquire Depomed (DEPO)... Nike (NKE), up 4.3% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 45.3%... Mentor Graphics (MENT), down 28%. ALSO LOWER: Depomed, down 5.9% after Horizon Pharma withdrew its offer to acquire the company... Builders FirstSource (BLDR), down 3.7% after 7M share Spot Secondary priced at $13.25.
05:17 EDTDEPODepomed comments on Horizon Pharma withdrawal of offer to acquire company
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05:13 EDTDEPOHorizon Pharma withdraws offer to acquire Depomed
Horizon Pharma (HZNP) announced that at a hearing, Judge Peter Kirwan of the Superior Court of California for the County of Santa Clara granted Depomed's (DEPO) motion for preliminary injunctive relief against Horizon Pharma's alleged use of information that Depomed claimed was confidential. In his ruling, Judge Kirwan did not grant the injunctive relief Horizon Pharma had sought regarding the legality of Depomed's poison pill and certain of the bylaw amendments announced by Depomed's board of directors on July 13. While we strongly disagree with the court's ruling, we are withdrawing our offer to acquire Depomed," said Timothy P. Walbert, chairman, president and CEO, Horizon Pharma. "Today's ruling by the court does not affect our 2016 guidance or long-range plan or expectations. We have built a strong and diversified portfolio of medicines that we expect will exceed $750Mn in net sales in 2015 and we expect will drive nearly $1B in net sales in 2016. As we look to the future, we are committed to our strategy of complementing our strong organic growth, which has the potential to double our net sales to approximately $2B by 2020, with value enhancing acquisitions. While we are disappointed by the court's ruling, Depomed was only one of many attractive acquisition opportunities we have been actively pursuing."
November 17, 2015
16:59 EDTDEPODepomed acquires U.S. rights to pain product from Grunenthal
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November 13, 2015
14:06 EDTDEPOHorizon Pharma extends exchange offer to acquire Depomed
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