- 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