1995-2009 Depomed was founded in 1995 2003 saw a net loss of $30 million, compared to $13.5 million in 2002. In 2004, John W. Fara was president, CEO, and chairman. In April 2006, Depomed entered a license agreement with Esprit Pharma over
Proquin XR, a "prolonged-release formulation of
ciprofloxacin hydrochloride" to treat
urinary tract infections. In July 2008, the FDA released a warning about drugs such as Depomed Inc's
Proquin XR, an antibiotic, about the risk of tendonitis and ruptured tendons.
2010-2014 By 2010 the company was based in
Menlo Park, California, and stated it intended to become profitable in 2011. By 2010, Depomed was supplying its entire logistics system with plastic pallets, after it had to recall a shipment of the diabetes drug
Glumetza for potential contamination of wood pallets. As of March 2011, Carl A. Pelzel was CEO and president of Depomed. Depomed had one approved product on the market,
Gralise, and had one other approved but not released: Glumetza. That month,
Boehringer Ingelheim purchased the rights to use Depomed's Acuform manufacturing technology. On June 21, 2012, Depomed acquired the rights to Zipsor, an
NSAID made by Xanodyne Pharmaceuticals. In particular, the
Zipsor Liquid Filled Capsules were acquired. Revenue generated by Zipsor was approximately as within the twelve months from June 2011 to May 2012. For $240 million, DL BioPharma purchased the royalty rights to Depomed's Glumetza, a type 2 diabetes drug, in October 2013. The year prior, Depomed had generated $43 million in royalty revenue off the drug.
2015-2017 In January 2015, Assets in 2015 came to $1.3 billion. Equity that year was $315 million, In early April 2016, activist investor
Starboard Value accused DepoMed of being "unfriendly to shareholders," noting in part a plan to relocate from California to
Delaware. Several weeks later, the Delaware move was dropped. In September 2016, there were reports that Depomed was considering a sale, after Starboard called for the option to be explored in April 2016. In October 2016, Starboard Value struck a deal with Depomed that gave the former three more spots on Depomed's board. In March 2017, more activity by activist investors resulted in CEO Jim Schoeneck being replaced by Arthur Higgins. Nucynta's rights were sold to Collegium Pharmaceutical, for $10 million upfront and royalty payments until December 2022. By March 2019, Assertio's stock had lost half its value since 2016. In September 2019, ''
Crain's Chicago Business'' argued that Assertio's diversification campaign was "sputtering", with Assertio stock having dropped 80% in the prior year. Operating income in 2019 was $3.33 million. == Products and manufacturing ==