UPDATE 1-FDA accepts Depomed drug filing; triggers milestone fee

* FDA accepts New Drug Application for pain drug

* Depomed to get $10 mln milestone payment from Abbott

* Shares up 12 pct after the bell

June 7 (Reuters) - Depomed Inc DEPO.O said U.S. health regulators accepted the company's marketing application for its experimental pain drug, triggering a $10 million milestone payment from its licensee and sending its shares up 12 percent.

The drug, DM-1796, was being tested to treat postherpetic neuralgia -- a neuropathic pain syndrome that usually follows an outbreak of shingles.

The company has licensed the rights to the drug, a once-daily tablet formulation of gabapentin, to Abbott Products, a unit of Abbott Laboratories ABT.N.

Depomed shares were up 12 percent at $3.39 in trading after the bell. They closed at $3.03 Monday on Nasdaq. (Reporting by Vidya L Nathan in Bangalore; Editing by Vinu Pilakkott)