(RTTNews) - Collegium Pharmaceutical, Inc. (COLL), a biopharmaceutical company, Thursday announced that it has agreed to acquire AZSTARYS for $650 million in cash from Corium Therapeutics Holdings, a privately held company, that markets and distributes AZSTARYS (serdexmethylphenidate and dexmethylphenidate), a central nervous system stimulant prescription medicine used for the treatment of Attention Deficit Hyperactivity Disorder in people 6 years or older.
For additional commercial and regulatory milestones achieved by AZSTARYS, Collegium may also pay Corium Therapeutics up to $135 million.
The cash consideration will be funded by a combination of Collegium's existing cash and $300 million from a delayed draw term loan which is part of the syndicated credit facility announced by Collegium in December 2025.
The addition of AZSTARYS will significantly complement our existing ADHD business while extending revenues into 2037 and beyond. AZSTARYS generated more than 760,000 prescriptions in 2025 and adds a complementary medicine to Collegiums ADHD portfolio. AZSTARYS is expected to generate over $50 million in second half 2026 pro forma net revenue, the company said in a statement.
Further, the biopharma firm is expecting its net leverage to be around two times based on estimated 2026 combined adjusted EBITDA upon transaction close.
The acquisition is expected to close in the second quarter of 2026.
In pre-market activity, COLL shares were trading at $35.23, up 1.24% on the Nasdaq.
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