Seeking Alpha

Depomed nabs migraine treatment for $48.7M

  • Depomed (DEPO) buys the rights to Cambia (it's an NSAID) from Nautilus Neurosciences.
  • DEPO is paying $48.7M and "may pay ... up to an additional $5M based on the achievement of certain annual net sales milestones."
  • The drug is "the only single agent NSAID in the U.S. specifically indicated for migraine, and immediately increases DEPO's topline with annualized net sales run rate of approximately $18M over the past 3 months."
  • DEPO sees some possible synergies given the overlap in neurologists who prescribe both Gralise and Cambia.
  • Updated year-end cash guidance for DEPO: $268-272M. (PR)
  • DEPO +1.4% AH
Comments (1)
  • jonnycricket
    , contributor
    Comment (1) | Send Message
     
    They paid alot less than Endo paid for Zacuity. DEPO and ENDO are arch rivals and are embroiled in patent litigation.
    17 Dec 2013, 08:24 PM Reply Like
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