Depomed expands geographic scope of metformin deal with Merck

10 September 2013

USA-based Depomed (Nasdaq: DEPO) says it has expanded the geographic scope of its non-exclusive license agreement with a subsidiary of pharma giant Merck & CO (NYSE: MRK) for certain patents directed to metformin extended release technology for use in XR (sitagliptin and metformin hydrochloride extended-release). The territory covered by the license agreement is now worldwide.

Under terms of the accord 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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