NEW YORK (TheStreet) -- Shares of Depomed (DEPO) closed up on Friday after the District Court of New Jersey ruled in favor of the pharmaceutical company in patent litigation for its Nucynta opioid products for pain medication.
Drugmakers Allergan (AGN), Roxane Laboratories and Alkem Laboratories had all recently filed new drug applications that would have infringed on Newark, CA-based Depomed's drugs.
Following today's ruling, Depomed said it expects market exclusivity for its Nucynta drug franchise until December 2025.
CEO Jim Schoeneck said in a statement that he was "pleased" with the court's decision as it "confirms the validity and strength of the Nucynta patents." statement.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: DEPO