BURLINGTON, MA and MENLO PARK, CA - June 20, 2011 - inVentiv Health, offering best-in-class clinical, consulting and commercial services to the healthcare industry, and Depomed, Inc. (NASDAQ: DEPO) announced today that both parties have signed an agreement under which inVentiv Selling Solutions, the company's outsourced sales business, will provide sales force recruiting, training, deployment and ongoing operational support for Gralise™, Depomed's once-daily tablets for treatment of Post-Herpetic Neuralgia (PHN).
"We are excited to partner with Depomed as they look to build awareness and market share for Gralise. Depomed's strong track record for developing successful therapeutic products is the ideal company to match our highly focused and execution driven sales teams," stated Paul Mignon, President of inVentiv Selling Solutions. "We look forward to working closely with Depomed's sales leadership team and leveraging this innovative product to create solid value for Depomed."
"As one of the largest providers of outsourced sales forces in the US, inVentiv offers us an ability to recruit and build our sales team with a partner that has a proven track record. Their ability to assist our internal operations is also an added benefit." said James A. Schoeneck, President and Chief Executive Officer, Depomed, Inc. "We are very pleased to be partnering with inVentiv on this initiative to help us achieve our Gralise sales goals."
About Depomed
Depomed, Inc. is a specialty pharmaceutical company having one approved product on the market, Glumetza®, and another recently approved product, Gralise™. Gralise™ (gabapentin) is a once-daily treatment approved for the management of postherpetic neuralgia (PHN). Glumetza® (metformin hydrochloride) is approved for use in adults with type 2 diabetes and is promoted by Santarus, Inc. in the United States. The company has a robust pipeline, including Serada®, which is in Phase 3 clinical development for menopausal hot flashes, as well as additional early stage product candidates. Depomed formulates its products and product candidates with its proven, proprietary Acuform® drug delivery technology, which is designed to enchance oral medications and allowing for controlled release of drug to the upper gastrointestinal tract. Additional information about Depomed may be found on its website, http://www.depomed.com.