TITUSVILLE, N.J., Jan. 15, 2015 /PRNewswire/ -- Janssen Pharmaceuticals, Inc. (JPI) today announced it has entered into a definitive agreement with Depomed, Inc. to divest its U.S. license rights to NUCYNTA® (tapentadol), NUCYNTA® ER (tapentadol) extended-release tablets and NUCYNTA® (tapentadol) oral solution for $1.05 billion. The transaction is expected to close in the second quarter, subject to customary closing conditions and completion of financing. This divestiture is a strategic decision designed to focus efforts and resources on targeted growth priorities where JPI can make the most difference for patients.
JPI currently licenses the commercialization rights to NUCYNTA® (tapentadol), NUCYNTA® ER (tapentadol) extended-release tablets and NUCYNTA® (tapentadol) oral solution from Grunenthal GmbH. JPI will retain license rights to NUCYNTA® (tapentadol), NUCYNTA® ER (tapentadol) extended-release tablets and NUCYNTA® (tapentadol) oral solution in Canada, Japan, and a number of other countries outside the United States.
Any further information regarding this transaction will be discussed during the scheduled Johnson & Johnson quarterly earnings call on January 20, 2015.
NUCYNTA® (tapentadol) and NUCYNTA® ER (tapentadol) extended-release tablets are opioid-based medicines used for treatment of pain. NUCYNTA® (tapentadol) is indicated for the management of moderate-to-severe acute pain in adults. NUCYNTA® ER (tapentadol) is indicated for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate and of neuropathic pain associated with diabetic peripheral neuropathy (DPN) in adults severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. Full product labeling including Boxed Warnings for NUCYNTA® and NUCYNTA® ER is available at www.Nucynta.com. NUCYNTA® (tapentadol) oral solution is an approved oral form of tapentadol that has not been launched.
About Janssen Pharmaceuticals, Inc.
Janssen Pharmaceuticals, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, is dedicated to addressing and resolving the major unmet medical needs of our time. Driven by our commitment to patients, healthcare professionals, and caregivers, we strive to develop sustainable and integrated healthcare solutions by working in partnership with all stakeholders on the basis of trust and transparency. Our daily work is guided by meeting goals of excellence in quality, innovation, safety, and efficacy in order to advance patient care.
Note on Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding a potential divestiture. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Pharmaceuticals, Inc. and Johnson & Johnson. Risks and uncertainties include, but are not limited to, the satisfaction of closing conditions for the transaction, including completion of financing and certain customary closing conditions, and the possibility that the transaction will not be completed, or if completed, not completed in the expected timeframe. A further list and description of risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2013, including in Exhibit 99 thereto, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Neither Janssen Pharmaceuticals, Inc. nor Johnson & Johnson undertake to update any forward-looking statement as a result of new information or future events or developments.
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SOURCE Janssen Pharmaceuticals, Inc.