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Shares of drug and delivery systems developer



rose 25% after the company said

Bristol-Myers Squibb

(BMY) - Get Bristol-Myers Squibb Company Report

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would pay it $18 million to settle a suit.

Recently, shares were up 51 cents at $2.49 on the

American Stock Exchange


DepoMed had alleged in March that Bristol-Myers Squibb infringed on its patented technology for the controlled release of medication with its once-daily Glucophage XR tablet.

The agreement also allows both companies to grant to each other "a limited non-exclusive royalty free license," DepoMed said in a press release.