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January 23, 2013
17:23 EDTSNTS, DEPOSantarus 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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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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