Collegium Pharmaceutical (NASDAQ:COLL) +8.3% after-hours on news it agrees to acquire the U.S. rights to the Nucynta franchise from Assertio Therapeutics (NASDAQ:ASRT) for $375M; ASRT +56.7%.
Collegium calls the deal “financially
transformative… We expect the acquisition to improve annual EBITDA and
operating cash flows by more than $100M.”
The company says the Nucynta franchise, which
includes an extended-release and an immediate release formulation of
tapentadol, is supported by patents with expires in mid-June 2025, with
the potential for a six-month pediatric extension.
https://seekingalpha.com/news/3539572-collegium-pharma-buys-nucynta-u-s-rights-from-assertio-in-375m-deal
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