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Supernus Pharmaceuticals Completes Acquisition of Adamas Pharmaceuticals
Acquisition strengthens Parkinson’s disease portfolio and diversifies revenue and cash flow ROCKVILLE, Md., Nov. 24, 2021 (GLOBE NEWSWIRE) -- Supernus
About this update from Supernus Pharmaceuticals, Inc.
[{"type":"text","content":"Acquisition strengthens Parkinson’s disease portfolio and diversifies revenue and cash flow\nROCKVILLE, Md., Nov. 24, 2021 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ: SUPN) today announced that it has successfully completed its previously announced acquisition of Adamas Pharmaceuticals, Inc. (NASDAQ: ADMS). “Adamas fits squarely within our corporate development strategy, adding a late-stage commercial product with significant revenue,” said Jack Khattar, President and CEO of Supernus Pharmaceuticals. “In addition, the acquisition adds a new growth catalyst, diversifies our revenue base and cash flow, and is expected to be significantly accretive in 2022.” Compelling Strategic Rationale Strengthens Parkinson’s disease portfolio with GOCOVRI® (amantadine) extended release capsules, the first and only FDA-approved medicine indicated for the treatment of both OFF and dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy and Osmolex ER® (amantadine) extended release tablets, approved for the treatment of Parkinson’s disease and drug-induced extrapyramidal reactions in adult patients.Diversifies and increases revenue base and cash flow, and combined with the acquisition of US WorldMeds CNS products in 2020, significantly reduces the reliance on net sales of Trokendi XR®.Potential synergies of $60 million to $80 million in year one due to strong overlap with existing infrastructure.The acquisition is expected to be significantly accretive in 2022. The Offer and the Merger The tender offer (Offer) for all outstanding shares of common stock of Adamas for (1) $8.10 per Share, in cash, less any applicable withholding taxes and without interest (Cash Amount), plus (2) two non-transferable and non-tradable contingent value rights per Share, each of which represents the contractual right to receive a contingent payments of $0.50 in cash, less any applicable withholding taxes and without interest (each, a CVR), which amount will become payable, if at all, if specified milestones are achieved prior to December 31, 2024 and December 31, 2025, as applicable (collectively, the Cash Amount with the CVRs, the Offer Price), expired as scheduled at one minute following 11:59 p.m., New York time, on November 23, 2021. American Stock Transfer & Trust Company, LLC, the depositary for the Offer, has advised Super...