Depomed rises on takeout rumors

Pain company Depomed Inc. (NASDAQ:DEPO) gained $3.10 (15%) to $24.34 on Friday after media reports said the company was preparing for a sale. Depomed spokesperson Christopher Keenan declined to comment on the speculation.

Last year, Depomed rejected multiple acquisition bids from Horizon Pharma plc (NASDAQ:HZNP), including a July 2015 bid worth $1.8 billion (see BioCentury Extra, July 7, 2015). ...