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Thursday, January 15, 2015

BRIEF-Depomed to purchase U.S. rights to Nucynta from Janssen for $1.05 bln, (NASDAQ: DEPO)

Depomed Inc * Entered into agreement to acquire u.s. Rights to Nucynta franchise from Janssen Pharma for $1.05 billion* Transaction has been unanimously approved by Depomed's board of directors* Deal expected to be immediately accretive, significantly increase depomed's product revenue, adjusted earnings per share for 2015, 2016* Intends to re-launch Nucynta and Nucynta ER with a focus on dual mechanism of action

Depomed, Inc. (Depomed) is a specialty pharmaceutical company focused on pain and other conditions and diseases of the central nervous system. Shares of DEPO fell by 2.22% or $-0.4/share to $17.65. In the past year, the shares have traded as low as $9.85 and as high as $18.28. On average, 807413 shares of DEPO exchange hands on a given day and today's volume is recorded at 650886.