Depomed (DEPO +21%) Q1 results ($M): Revenue: 128.4 (+42.0%); Product sales: 44.4 (-50.8% due mainly to license deal with Collegium).
Net income: 33.8 (+226.6%); non-GAAP net income: 21.4 (+386.4%); non-GAAP EBITDA: 31.8 (+25.7%); EPS: 0.48 (+211.6%); non-GAAP EPS: 0.28 (+300.0%).
2018 Guidance: Neurology franchise sales: $120M – 125M; non-GAAP EBITDA: $125M – 135M; net loss: ($33M – 23M).
NUCYNTA ER supply shortages resolved.
Cosyntropin U.S. marketing application to be filed by year-end by development partner Mallinckrodt.
In-licensed new dosage form of migraine med CAMBIA (diclofenac potassium) from Applied Pharma Research S.A. U.S. marketing application expected in 2019.
Agreed to new co-promotion agreement with Allegis Pharmaceuticals for pain med Zipsor (diclofenac potassium). Allegis will add 30 sales reps focused on primary care physicians in certain regions. Revenues to be shared above a mutually agreed-to baseline.
Corporate headquarters relocated to Lake Forest, IL from Newark, CA.
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