Depomed To Acquire Rights To NUCYNTA Franchise For $1.05 Billion

Depomed Inc (NASDAQ: DEPO) announced Thursday that it will acquire the U.S. rights to the NUCYNTA franchise from Johnson & Johnson (NYSE: JNJ) subsidiary Janssen Pharmaceuticals, Inc. for $1.05 billion.

According to the company’s press release, “The NUCYNTA franchise includes NUCYNTA® ER (tapentadol) extended release tablets indicated for the management of pain, including neuropathic pain associated with diabetic peripheral neuropathy (DPN), severe enough to require daily, around-the-clock, long-term opioid treatment, and NUCYNTA® (tapentadol), an immediate release version of tapentadol, for management of moderate to severe acute pain in adults.”

"We believe that NUCYNTA is an ideal strategic fit for Depomed – a rare opportunity to add a proprietary, differentiated drug with a lengthy period of exclusivity that fits precisely into our therapeutic focus," said Jim Schoeneck, President and Chief Executive Officer of Depomed.

Depomed traded at $18.42 in Thursday’s after-hours session, up 4.36 percent.

Johnson & Johnson closed at $102.49, down 1.45 percent.