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Depomed Prevails Against Actavis In Gralise Case

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Shares of Depomed (NASDAQ: DEPO) are trading sharply higher following news of a favorable court ruling versus competitor Actavis (NYSE: ACT).

The docket from the case showed a judge ruled in favor "on all claims and counterclaims pending in this litigation." The effective date of any FDA "approval with respect to Actavis's ANDA that is the subject of this lawsuit shall be no earlier than the last expiration date of the 280, 962, 927, 989, 756, 332 and 992 Patents."

A mid-day release from Depomed has since confirmed what the docket showed.

The news propelled the stock, which had been trading lower before the news hit, to rise nearly 16 percent to $15.11, before settling back down to $14.72, still up 11.8 percent on the day.

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