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February 3, 2012
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| 16:18 EDT |  | DEPO |
| theflyonthewall.com: | DepoMed receives $10M upon signing license agreement with Merck | | Depomed (DEPO) announced that Merck (MRK) disclosed that the FDA approved Janumet XR tablets, a new treatment for type 2 diabetes that combines sitagliptin. Depomed has provided Merck a license to certain of Depomed's patents directed to metformin extended release technology for Janumet XR pursuant to the terms of the license agreement signed with Merck in 2009. Depomed received $10M upon signing the license agreement and $2.5M upon Merck's filing of the Janumet XR New Drug Application with the FDA. Depomed will receive modest, single-digit royalties on net product sales of Janumet XR through the expiration date of the licensed patents. :theflyonthewall.com |
| | 09:29 EDT |  | DEPO |
| theflyonthewall.com: | DepoMed target raised to $10 from $8 at JMP Securities | | JMP Securities increased its target on Depomed (DEPO) after Merck (MRK) announced FDA approval of Janumet XR, which is based on Depomed's proprietary drug delivery technology. The firm notes that Depomed will receive a royalty from Merck, and it reiterates an Outperform rating, :theflyonthewall.com |
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