NEWARK, Calif., April 14, 2016 /PRNewswire/ -- Depomed, Inc. (NASDAQ: DEPO) ("Depomed" or the "Company") today announced that it will not pursue the proposed reincorporation of the Company from California to Delaware that was proposed in its preliminary proxy statement for its upcoming Annual Meeting of Shareholders (the "Annual Meeting"). Depomed determined that to proceed with this proposal is not in the best interests of the Company and its shareholders as it would result in a costly and distracting proxy contest at a time when the Company is focused on growing its business and driving shareholder value. The vote to elect directors and the other agenda items at the Company's Annual Meeting is scheduled to be held on May 18, 2016.
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.
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SOURCE Depomed, Inc.