Depomed buys suite of Janssen pain drugs for $1bn

California-based pharmaceutical company Depomed has revealed it will acquire the IP rights to Janssen Pharmaceuticals’ painkiller drug Nucynta (tapentadol) for $1.05 billion.

Janssen is Johnson & Johnson’s pharmaceuticals subsidiary company.

The acquisition, which was announced yesterday (January 15), includes rights to the Nucynta franchise in the US.

The franchise includes Nucynta ER extended release tablets, which are prescribed to manage neuropathic pain associated with diabetic peripheral neuropathy, an immediate release formulation of the drug, and a Nucynta oral solution, which has yet to be launched.

In a statement, Depomed said that the transaction will make Nucynta a “flagship asset” in its portfolio of pain and neurology specialty products.

Jim Schoeneck, Depomed’s chief executive, said: “We believe that Nucynta is an ideal strategic fit for Depomed.”.”

Nucynta’s composition of matter patent is due to expire in August 2022, Schoeneck added. It is also protected by additional patents, which are due to expire at t a later date.

According to a statement by Depomed, in the 12 months ending September 2014, the Nucynta franchise generated net sales in the US of $166 million.

The transaction is expected to close in the second quarter of 2015.