Dallas, Texas 01/23/2014 (FINANCIALSTRENDS) – Depomed Inc.(NASDAQ:DEPO) has since the second week of December recorded high following the acquisition of Cambia, from Nautilus Neurosciences. The company says that the buy valued at $48.7 million is a good buy since Cambia is perhaps only one of the single agents which NSAID has approved for treatment of migraine in the US. Additionally, the company expected to shell additional $5million to ensure that the company will see a surge in sales of Cambia in the US. This is in line with the net sales run rate for 3 months with sale of over $18 million. The company had previously in October sold its diabetes royalty and milestone rights to PDL BioPharma.
Depomed Inc.(NASDAQ:DEPO) is also expected to gain further traction as most neurologists are given to prescribe two products – Cambia as well as Gralise.
Besides, Depomed Inc.(NASDAQ:DEPO) recent update too indicated that the company will register $268 and $272 million. The better performance for the third quarter, results of which were announced in early November, showed that the company beat both revenues and estimates by $0.02. The EPS was $0.11 beating by over $0.02. The revenue was noted as $37.46 million, which beat by $1.91 million.
Depomed Inc.(NASDAQ:DEPO) during the October, royalty transfer grew richer by $240.5 million. The product a Type 2 diabetes product is expected to earn Depomed over 481million. After this milestone is achieved both companies are expected to hold equal share over pending payments. The diabetes products which Depomed has moved to PDL are Gluimetza, Janumet XR as well as Invokana as well as a host of other products.
Depomed Inc.(NASDAQ:DEPO) trades at $12 a share as of previous day closing. It holds a market cap of $683.84 million and volume lof 1,133,186. The company will see 52 week high of $12.55 and 52 week low of $4.99. The EPS is 0.04.