Collegium To Acquire AZSTARYS For $650M In Cash With Potential For Additional Milestone Payments Up To $135M Depending On Future Commercial And Regulatory Milestones

Collegium Pharmaceutical, Inc. has announced its acquisition of AZSTARYS from Corium Therapeutics for $650 million in cash, with potential additional milestone payments of up to $135 million based on future commercial and regulatory achievements. The acquisition is expected to enhance Collegium's ADHD portfolio, with AZSTARYS projected to generate over $50 million in pro forma net revenue in the second half of 2026 and patent protection extending to 2037. The deal will be funded using Collegium's cash reserves and a previously announced $300 million delayed draw term loan.