* Says Pfizer confirms no lawsuit filed on pain drug
* Sees drug approval in Q1 of 2011
* Shares up 16 pct
Aug 3 Depomed Inc (DEPO.O) said it confirmed
with Pfizer Inc (PFE.N) that no patent infringement lawsuit has
been filed against Depomed's experimental neuropathic pain
drug, sending its shares up 16 percent.
The drug, DM-1796, is an extended release, once-daily
tablet formulation of gabapentin, which is marketed by Pfizer
for treatment of epileptic seizures.
On Tuesday, Depomed said the 45-day period for filing a
patent infringement suit under the Hatch-Waxman Act, which
would subsequently impose a 30-month stay on the U.S. health
regulator's ability to approve the drug DM-1796, has expired.
In March, Depomed submitted a new drug application to the
U.S. Food and Drug Administration to treat postherpetic
neuralgia (PHN). [ID:nSGE62T0KA].
Depomed, which has licensed the drug to Abbott Laboratories
Inc (ABT.N) in North America, said it now expects marketing
approval of the drug in the first quarter of next year.
Shares of Depomed soared 16 percent to $3.30 in trading
after the bell. They closed at $2.83 Tuesday on Nasdaq.
(Reporting by Krishnakali Sengupta in Bangalore;)