MENLO PARK, Calif. & EAST BRUNSWICK, N.J.--(BUSINESS WIRE)--Depomed, Inc. (NASDAQ:DEPO) and Esprit Pharma, Inc. announced today that Esprit has paid Depomed the $10 million license fee payment due under the parties’ license agreement for ProQuin® XR, the extended release formulation of the antibiotic ciprofloxacin developed by Depomed and exclusively licensed in the United States to Esprit. In addition, Depomed and Esprit have agreed to commence discussions toward a mutually agreeable restructuring of their license agreement after the new year. In the meantime, the existing agreement will remain in effect.
