Five drug companies including NewLink Genetics (NLNK), Juno Therapeutics (JUNO) and Intrexon (XON) reported quarterly results after the close on Monday, but some investors seemed to be more focused on the companies’ development updates than their actual earnings. Depomed Misses Depomed (DEPO) widened its loss to an adjusted 13 cents a share from last year’s 1-cent loss. Analysts were expecting earnings of a penny. Revenue fell 58% to $32.2
This is setting up to be a big year for specialty drugmaker DepoMed. After years of lumpy quarters driven by licensing deals with other drugmakers, DepoMed (DEPO) is coming into its own as an independent commercial pharma. It’s developed or acquired six approved products, most recently the regular and extended-release versions of pain medicine Nucynta, in a deal with Johnson & Johnson (JNJ) that closed April 2. Analysts expect 165% profit growth
Specialty drugmaker Depomed (DEPO) popped nearly 10% to a new high and got an upgrade from Roth Friday after it inked a deal to acquire a new pain drug for $1.05 billion. Late Thursday, Depomed agreed to buy the Nucynta franchise from the Johnson & Johnson (JNJ) Janssen Pharmaceuticals division. The franchise includes a tablet, an extended-release tablet and an oral solution that has yet to be launched. Nucynta had been drawing $166 million a year