Collegium Pharma To Acquire BioDelivery Sciences International - Quick Facts

(RTTNews) - Collegium Pharmaceutical, Inc. (COLL) and BioDelivery Sciences International, Inc. (BDSI) announced an agreement, under which Collegium will acquire BDSI. Collegium said it will promptly commence a tender offer to acquire all the outstanding shares of BDSI at the price of $5.60 per share. The offer price implies a fully diluted equity value of approximately $604 million. Collegium will also repay the existing Collegium term loan from Pharmakon and the existing BDSI term loan from Pharmakon. Collegium expects the acquisition to be highly accretive to earnings in 2022 and 2023.

BioDelivery Sciences International, Inc. is a commercial-stage specialty pharmaceutical company dedicated to patients living with chronic conditions. BDSI's BELBUCA is a schedule III opioid product and is highly complementary to Collegium's portfolio of pain products. Additional products in the BDSI portfolio include Symproic, a contributor, and ELYXYB, a neurology product in its early launch phase.