Collegium Pharmaceutical completed the acquisition of AZSTARYS (serdexmethylphenidate and dexmethylphenidate), a central nervous system stimulant for the treatment of ADHD in people 6 years of age and older. Collegium acquired AZSTARYS from Corium Therapeutics for approximately $650 million in cash, funded by approximately $350 million of existing cash on hand and $300 million from a delayed draw term loan. Collegium may also pay up to $135 million in additional consideration if AZSTARYS achieves certain future commercial and manufacturing milestones.
Strategic Rationale and Financial Impact
AZSTARYS adds a complementary and differentiated therapy to Collegium’s ADHD portfolio and leverages Collegium’s established ADHD commercial infrastructure and expertise. AZSTARYS generated more than 760,000 prescriptions in 2025 and is expected to generate $60 to $70 million of net revenue during the remainder of 2026. Annual run rate synergies are expected to exceed $50 million within twelve months. The acquisition extends the longevity of Collegium’s revenue base, as AZSTARYS is supported by six Orange Book-listed patents, most of which do not expire until December 2037.
Financial Guidance and Leadership Changes
Collegium raised its 2026 financial guidance to reflect the anticipated impact of the AZSTARYS acquisition. Total Product Revenues, Net are expected in the range of $865 to $895 million and Adjusted EBITDA in the range of $475 to $500 million. The Company announced that Scott Dreyer will depart from his role as Chief Commercial Officer effective at the end of August 2026, and Thomas Smith, M.D., will depart from his role as Chief Medical Officer following a transition period.
This article is an AI-assisted summary. All facts and figures are drawn from the original report: https://www.biospace.com/press-releases/collegium-completes-acquisition-of-azstarys-from-corium-therapeutics