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Centreville Today
By the People, for the People
Collegium Pharmaceutical Acquires AZSTARYS for $650M
The deal will diversify Collegium's revenue and strengthen its presence in the ADHD market.
Mar. 31, 2026 at 11:34am
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Collegium Pharmaceutical's acquisition of AZSTARYS signals the company's strategic move to diversify its revenue streams and strengthen its position in the ADHD medication market.Centreville TodayCollegium Pharmaceutical Inc. (NASDAQ:COLL) has agreed to acquire AZSTARYS from Corium Therapeutics Holdings for $650 million in cash payments, plus potential earn-out considerations up to $135 million. Vikram Karnani, Collegium's President and CEO, stated that the transaction will enable the company to further diversify its revenue beyond pain medicines and contribute to its revenue base through the late 2030s.
Why it matters
The acquisition of AZSTARYS will expand Collegium's presence in the ADHD market, leveraging the company's existing operational and marketing capabilities. This is expected to lead to expanded margins and higher operating leverage for Collegium.
The details
The deal involves $650 million in cash payments, along with earn-out considerations that could reach $135 million. Karnani emphasized that this transaction will enable the company to further diversify its topline, beyond the pain medicines category, and will continue to contribute to the company's revenue base through to the late 2030s, further strengthening Collegium's presence within the ADHD space.
- On March 24, Vikram Karnani, President and CEO at Collegium Pharmaceutical Inc. (NASDAQ:COLL), shared his views on the company's recent agreement with Corium Therapeutics Holdings.
- On February 23, Boston Legacy FC named Collegium Pharmaceutical Inc. (NASDAQ:COLL) an official partner and announced a multi-year partnership with the company.
The players
Collegium Pharmaceutical Inc.
A pharmaceutical company that focuses on the development and commercialization of pain management medicines. It offers a wide range of products, including Jornay PM, Belbuca, Xtampza ER, Nucynta ER, Nucynta IR, and Symproic.
Vikram Karnani
The President and CEO of Collegium Pharmaceutical Inc.
Corium Therapeutics Holdings
The company that Collegium Pharmaceutical Inc. acquired AZSTARYS from.
Boston Legacy FC
A soccer club that has partnered with Collegium Pharmaceutical Inc. to make the club's home games more comfortable and inclusive for fans.
What they’re saying
“This transaction will enable the company to further diversify its topline, beyond the pain medicines category, and will continue to contribute to the company's revenue base through to the late 2030s, further strengthening Collegium's presence within the ADHD space.”
— Vikram Karnani, President and CEO, Collegium Pharmaceutical Inc.
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
The acquisition of AZSTARYS will expand Collegium's presence in the ADHD market, leveraging the company's existing operational and marketing capabilities. This is expected to lead to expanded margins and higher operating leverage for Collegium, further diversifying its revenue beyond pain medicines.
