Business
Collegium to Acquire BioDelivery Sciences Broadening Pain Portfolio
- Expected to be Immediately and Highly Accretive Driven by Identified Annual Synergies of at Least $75 Million - - Will Diversify Revenue Growth and
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"- Expected to be Immediately and Highly Accretive Driven by Identified Annual Synergies of at Least $75 Million - - Will Diversify Revenue Growth and Accelerate Cash Flow Generation - - Addition of BELBUCA® Provides a Second Growth Driver and ELYXYB™ Establishes Foothold in Neurology - - Conference Call Scheduled for Today at 8:30 a.m. ET - STOUGHTON, Mass. and RALEIGH, N.C., Feb. 14, 2022 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc. (Nasdaq: COLL) and BioDelivery Sciences International, Inc. (NASDAQ: BDSI) today announced a definitive agreement pursuant to which Collegium will acquire BDSI for $5.60 per share in cash. BDSI has a portfolio of pain and neurology products that address serious and debilitating conditions. BDSI’s commercial growth driver, BELBUCA, is a meaningfully differentiated schedule III opioid product and is highly complementary to Collegium’s portfolio of pain products. Additional products in the BDSI portfolio include Symproic®, a contributor, and ELYXYB, a neurology product in its early launch phase. “We are excited to announce this acquisition, which represents a major step forward in our mission to build a leading, diversified specialty pharmaceutical company committed to improving the lives of people suffering from serious medical conditions,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “The BDSI portfolio expands and enhances Collegium’s differentiated pain offerings and establishes a foothold in neurology, a strategic market adjacency. Importantly, we expect this acquisition will be immediately and highly accretive by expanding our revenue scale and generating significant synergies.” “We are pleased to announce the transaction with Collegium, which we view as a testament to the attractiveness of our portfolio and long-term value of our brands,” said Jeff Bailey, Chief Executive Officer of BDSI. “Our team has worked diligently to grow our differentiated products. We believe that this transaction will deliver benefits to patients and prescribers and create significant value for our shareholders.” Transaction Rationale Strategically aligned with Collegium’s mission to build a leading, diversified specialty pharmaceutical company committed to improving the lives of people suffering from serious medical conditionsDiversifies and expands Collegium’s revenues by adding BELBUCA...