Depomed demands $105M from Esprit Pharma

Depomed is demanding more than $105 million from Esprit Pharma to satisfy claims that Esprit violated their licensing deal on ProQuin XR for urinary tract infections. Depomed says Esprit failed to make a $10 million milestone payment due December 15, among other things. Depomed of Menlo Park, CA is also demanding binding arbitration to settle its claims.

- see the release on the damages claim 

Related Article:
Esprit adds $91M in VC. Report