MENLO PARK, Calif.--(BUSINESS WIRE)--Depomed, Inc. (NASDAQ:DEPO) today announced that it has delivered a notice to Esprit Pharma, Inc. regarding Esprit’s breaches of the parties’ Exclusive License and Marketing Agreement for ProQuin® XR, a once-daily extended release formulation of ciprofloxacin for the treatment of uncomplicated urinary tract infections. The breaches involve, among other matters, Esprit’s failure to make the $10 million license fee payment due to Depomed under the contract on December 15, 2006, and to use commercially reasonable efforts to market ProQuin XR.
