Business
Collegium Reports Record Full-Year 2020 Revenue of $310.0 Million
– 2020 First Full-Year of Profitability, Driven by Xtampza® ER Revenue Growth and the Nucynta® Acquisition – – Collegium Reiterates Previously Issued 2021
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"– 2020 First Full-Year of Profitability, Driven by Xtampza® ER Revenue Growth and the Nucynta® Acquisition – – Collegium Reiterates Previously Issued 2021 Guidance – – Conference Call Scheduled for Today at 4:30 p.m. ET – STOUGHTON, Mass., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a specialty pharmaceutical company committed to being the leader in responsible pain management, today reported its financial results for the fourth quarter and year ended December 31, 2020 and provided a corporate update. “Our differentiated pain portfolio performed well during the fourth quarter, laying the groundwork for a strong start in the new year,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “As we turn to 2021, we are encouraged by underlying trends in our business and remain focused on maximizing the potential of our portfolio and creating value for our shareholders. As always, we are committed to being the leader in responsible pain management and will continue to prioritize the health and safety of our people, customers and the communities that we serve.” “The fourth quarter capped a financially transformative 2020 for Collegium, in which Xtampza ER growth and the acquisition of the Nucynta franchise enabled us to deliver profitability and generate significant cash flows,” said Paul Brannelly, Executive Vice President and Chief Financial Officer of Collegium. “Our 2021 outlook is supported by early Xtampza ER growth trends, expected stable profit contributions from the Nucynta franchise and our ability to continue to leverage our cost structure. This year we are focused on profitability, strong cash generation and remaining focused and disciplined in our approach to capital allocation.” Recent Business Highlights Xtampza ER market share of the oxycodone extended-release market grew to 25.1% in December 2020, from 18.9% in December 2019. Effective January 1, 2021, the Company secured new exclusive ER oxycodone formulary wins for Xtampza ER within a major national Medicare Part D plan and several regional commercial plans, as well as parity formulary positions for select regional commercial plans. With these new exclusive and parity formulary positions, Xtampza ER will be the exclusive branded ER oxycodone for approximately 92 million lives and will be in a parity position for ...