Rx News
Depomed Expands Geographic Scope of License Agreement with Merck for Extended Release Metformin Patents
September 9, 2013
NEWARK, Calif. -- Depomed, Inc. (NASDAQ: DEPO) announced today it has expanded the geographic scope of its non-exclusive license agreement with a subsidiary of Merck for certain patents directed to metformin extended release technology for use in JANUMET® XR (sitagliptin and metformin hydrochloride (HCl) extended-release). The territory covered by the license agreement is now worldwide.
Under terms of the agreement originally entered into in July 2009, Merck receives a non-exclusive license as well as other rights to certain Depomed patents directed to metformin extended release technology. Through the expiration date of the patents, Depomed will receive modest royalties on net product sales of JANUMET® XR in countries in which the licensed patents cover the product.
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