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January 23, 2013
17:23 EDTDEPO, SNTSSantarus announces receipt of paragraph IV certification for generic glumetza
Santarus (SNTS) disclosed that on January 21, Santarus received a paragraph IV certification from Watson Laboratories advising Santarus of the filing of an Abbreviated New Drug Application ANDA with the U.S. FDA for a generic version of Glumetza. Santarus promotes Glumetza in the U.S. under the terms of a commercialization agreement with Depomed (DEPO). Watson’s certification notice alleges that the four U.S. patents listed in the FDA’s Orange Book for Glumetza 500 mg, with expiration dates in 2016, 2020 and 2021, will not be infringed by Watson’s proposed product, are invalid and/or are unenforceable. Santarus and Depomed are evaluating the paragraph IV certification. The parties have 45 days from the receipt of the paragraph IV certification to commence a patent infringement lawsuit against Watson that would automatically stay, or bar, the FDA from approving Watson’s ANDA for 30 months or until a district court decision that is adverse to the asserted patents, whichever is earlier. In April 2012, Depomed filed a lawsuit against Watson in the U.S. District Court for the District of Delaware, in response to an ANDA and paragraph IV certification filed by Watson regarding Watson’s intent to market a generic version of Glumetza 1000 mg, which litigation is ongoing.
News For SNTS;DEPO From The Last 14 Days
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July 29, 2015
16:18 EDTDEPODepomed raises FY15 product sales view to $320M-$340M
Prior product sales guidance $310M-$335M. FY15 revenue consensus $327.33M. Raises FY15 adjusted earnings view to $40M-$50M from $16M-$28M. CEO Jim Schoeneck said, "Growth in the second quarter was led by our flagship product NUCYNTA, which had a strong performance in the first quarter of the company distributing the product. We believe that NUCYNTA has blockbuster potential – an even bigger opportunity than we originally anticipated – and we've just relaunched NUCYNTA with our new product positioning and expanded commercial efforts that we initiated in mid-June. We also see future growth opportunity for Gralise, Cambia and Lazanda including increases in unit demand and market share plus product line extensions. Depomed is now in a period of accelerated growth, one that we see extending well into the future."
16:16 EDTDEPODepomed reports Q2 adjusted EPS 27c, consensus 0c
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16:07 EDTDEPODepomed board rejects acquisition proposal from Horizon Pharma
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16:05 EDTDEPODepomed board rejects takeover proposal from Horizon Pharma
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July 24, 2015
11:09 EDTDEPOWallachBeth does not see Horizon facing competing suitor for Depomed
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July 21, 2015
11:28 EDTDEPODepomed says revised Horizon proposal includes no change to amount of stock
Depomed (DEPO) confirmed that it has received a "purported revised, highly conditional, unsolicited and non-binding" proposal from Horizon Pharma (HZNP) to acquire all of the outstanding shares of Depomed in an all-stock transaction currently valued at $33.00 per share. Depomed said its board, in consultation with its independent financial and legal advisors, will carefully review and evaluate the revised proposal to determine the course of action that it believes is in the best interests of the company and its shareholders. Depomed added: "Today's purported increase does not reflect any increase in the amount of Horizon stock that the Depomed shareholders would receive, nor any increase in the pro-forma ownership for the Depomed shareholders, and is the result of the trading value of Horizon's stock having increased since it made its initial offer." Depomed previously rejected the prior proposal, made May 27, to acquire all outstanding common shares of Depomed in an all-stock transaction then valued at $29.25 per share.
10:14 EDTDEPOHigh option volume stocks:
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07:02 EDTDEPOHorizon Pharma increases offer for Depomed to $33.00 per share
Horizon Pharma (HZNP) announced that it has increased the value of its all-stock acquisition proposal to $33.00 per share from $29.25 per share, contingent on Depomed entering into good faith discussions regarding a transaction. The increased offer represents a 60% premium to the closing price of Depomed on July 6, the day prior to when Horizon's initial proposal was made public.
07:01 EDTDEPOHorizon Pharma increases offer for Depomed to $33.00 per share
July 20, 2015
10:33 EDTDEPODepomed suitor Horizon Pharma advances after raising outlook
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09:50 EDTDEPOHorizon Pharma CEO says 'here to stick it out' regarding Depomed deal
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09:50 EDTDEPOHorizon Pharma CEO says Depomed proposal 'shareholder friendly'
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