PDL BioPharma acquires royalty, milestone rights from Depomed in $240.5M deal

|About: PDL BioPharma, Inc. (PDLI)|By:, SA News Editor

PDL BioPharma (PDLI) acquires royalty and milestone rights on sales of Type 2 diabetes products licensed by Depomed (DEPO).

PDLI is paying $240.5M in cash and will receive all royalty and milestone payments up to $481M, after which time the two companies will split payments.

The rights acquired are tied to: Glumetza, Janumet XR, Invokana, among other products. (PR)