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Depomed gets favorable patent ruling; stock up 3% in extended trading

Depomed announced on Friday that a U.S. District Court ruled in favor of the company in a patent case for NUCYNTA, its long-acting opioid drug for chronic pain.

The specialty pharmaceutical company had filed a patent infringement claim against Actavis, Alkem Laboratories, Roxane Laboratories and their affiliates. The defendant companies had filed abbreviated new drug applications for Depomed's NUCYNTA franchise.

As of this ruling, the company said it now expects market exclusivity for NUCYNTA ER, NUCYNTA and NUCYNTA oral solution until Dec. 2025.

"We are pleased with the Court's decision as it confirms the validity and strength of the NUCYNTA patents," said Jim Schoeneck, president and CEO of Depomed. "We look forward to growing the NUCYNTA franchise, comprised of two important and highly-differentiated medicines, for at least the next 9 years."

The stock had spiked as much as 13 percent before paring its gains to about 4.5 percent prior to being halted for news pending at 3:17 p.m. ET. The stock resumed trading at 4:20 p.m. ET and were last about 3 percent higher in after-hours trade.