NEWARK, Calif., March 19, 2018 (GLOBE NEWSWIRE) -- Depomed, Inc. (NASDAQ:DEPO) today announced it has signed a lease for its new corporate headquarters at 100 South Saunders Road in Lake Forest, Illinois, a northern Chicago suburb. The Company anticipates the new headquarters, located in the Landmark Conway Farms complex, to be operational in the third quarter of the calendar year. During the construction phase and the transition to this more cost effective location, Depomed will operate out of temporary space located in the same building. The office will house approximately 70 professionals, many of these to be new hires from the local area.
“Establishing our headquarters in Lake Forest is consistent with our overall business strategy to transform Depomed into a leaner, more entrepreneurial and faster moving company. The location, being in close proximity to a growing number of specialty pharmaceutical companies, will allow us to attract and retain the talent needed to take the company to the next level,” said Arthur Higgins, President and CEO of Depomed. “We look forward to being part of the Lake Forest business community.”
CBRE Group Inc. represented Depomed in the lease negotiations.
Depomed is a leading specialty pharmaceutical company focused on enhancing the lives of patients, families, physicians, providers and payors through the commercialization of products in the areas of pain and neurology, and in the development of drugs in areas of unmet medical need. Depomed currently markets three medicines focused on neuropathic pain and migraine through its neurology and pain franchises and its emerging specialty/orphan franchise is focused on orphan drug indications and areas of unmet medical need. To learn more about Depomed, visit www.depomed.com.
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