PDL BioPharma is buying the rights to receive royalty and milestone payments on several Type 2 diabetes treatments from Depomed in a deal valued at $240.5 million. The biggest earner in the group is Glumetza, which is marketed by Santarus Inc. PDL said Depomed received $42.8 million in royalty payments on that drug in 2012. PDL will also get payments on sales of Merck & Co.'s Janumet XR and several experimental drugs. Read the full story