Depomed, J&J deal

Depomed received a $5 million milestone payment from Johnson & Johnson's Janssen Pharmaceutica N.V. subsidiary under an August deal to develop once-a-day combination formulations of metformin to treat Type II diabetes. The payment was triggered by the delivery of a prototype of one of four formulations of a fixed-dose combination of canagliflozin and extended-release metformin. Depomed has received $10 million in total payments under the deal. Depomed is eligible to receive an additional, undisclosed regulatory milestone payment, plus royalties on future net sales. ...