Drug Co. Claims Licensee Breached ProQuin Deal

Law360, New York (December 18, 2006, 12:00 AM EST) -- A specialty pharmaceutical company said Monday that a New Jersey drug company has failed to make good on a $10 million license fee payment and has not used commercially reasonable efforts to market its drug for urinary tract infections.

Depomed Inc., based in Menlo Park, Calif., said it has notified Esprit Pharma Inc. of breaking the companies’ exclusive license and marketing agreement for ProQuin XR, a once-daily extended release form of ciprofloxacin.

Esprit, based in East Brunswick, N.J., did not pay the $10 million for a...
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