Depomed Issues Statement in Response to Starboard Value LP 13D Filing

NEWARK, Calif., April 8, 2016  -- Depomed, Inc. (NASDAQ: DEPO) ("Depomed" or the "Company") today issued the following statement in response to the Schedule 13D filed April 7 with the Securities and Exchange Commission by Starboard Value LP ("Starboard"):

 

Depomed welcomes open communications with its shareholders and values constructive input toward the goal of enhancing shareholder value. Depomed notes that Starboard has not communicated with the Company prior to filing the 13D and has not attempted to hold any discussions with the Company. Depomed's Board and management are committed to creating value for all Depomed shareholders. 

The Depomed Board of Directors recommends that shareholders take no action at this time.

 

About Depomed

 

Depomed is a leading specialty pharmaceutical company focused on enhancing the lives of the patients, families, physicians, providers and payers we serve through commercializing innovative products for pain and neurology related disorders. Depomed markets six medicines with areas of focus that include mild to severe acute pain, moderate to severe chronic pain, neuropathic pain, migraine and breakthrough cancer pain. Depomed is headquartered in Newark, California. To learn more about Depomed, visit www.depomed.com.

 

Investor Contact:

 

Depomed, Inc.

August J. Moretti

Chief Financial Officer

510-744-8000

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or

 

Christopher Keenan

VP, Investor Relations and Corporate Communications

510-744-8000

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Innisfree M&A Incorporated

Larry Miller / Jonathan Salzberger / Scott Winter

212-750-5833

 

Media Contact:

 

Joele Frank, Wilkinson Brimmer Katcher

Eric Brielmann

415-869-3950

 

Andy Brimmer / Averell Withers / Adam Pollack

212-355-4449