Overview
- The purchase from Corium includes $650 million in cash plus up to $135 million in contingent payments tied to sales or regulatory milestones.
- Collegium plans to use existing cash and $300 million from a delayed‑draw term loan, with interest expected near SOFR plus 325 basis points within a disclosed range.
- The company targets closing in the second quarter of 2026 and will update full‑year 2026 guidance after the transaction completes.
- AZSTARYS will sit alongside Jornay PM to form a two‑product ADHD portfolio that extends projected ADHD revenue durability into 2037 and further diversifies beyond pain therapies.
- Management projects immediate accretion to adjusted EBITDA, greater contribution beginning in 2027, and pro forma net debt to adjusted EBITDA of roughly 2x supported by strong cash generation.