Collegium Pharmaceutical To Acquire AZSTARYS In $650 Million Deal, Expanding ADHD Portfolio

Collegium Pharmaceutical and Corium Therapeutics Holdings announced that they have entered into a definitive agreement under which Collegium will acquire the ADHD therapy AZSTARYS for $650 million in cash. The agreement also includes the potential for up to $135 million in additional milestone payments tied to future regulatory and commercial achievements.

Corium Therapeutics, a privately held company, markets and distributes AZSTARYS through its subsidiaries. The medication, a central nervous system stimulant, is approved for the treatment of Attention Deficit Hyperactivity Disorder in patients aged six and older. AZSTARYS is the first ADHD therapy to combine both immediate-release and long-acting components in a single capsule. The acquisition is expected to meaningfully strengthen Collegium’s presence in the ADHD market and diversify its long-term revenue stream.

Vikram Karnani, President and Chief Executive Officer of Collegium Pharmaceutical, said the acquisition represents a significant strategic step for the company. According to Karnani, adding AZSTARYS enhances Collegium’s existing ADHD portfolio which already includes the differentiated therapy JORNAY PM and is expected to extend revenue opportunities through 2037 and beyond. He noted that the transaction aligns with the company’s broader ambition to build a leading, diversified biopharmaceutical organization focused on patient care and shareholder value.

Corium Therapeutics CEO Todd Smith said the company has worked over the past two years to establish AZSTARYS as a strong treatment option through targeted patient access programs and data-driven commercial strategies. Smith added that Collegium is well positioned to expand the product’s market presence and build upon the momentum achieved to date. The acquisition marks a major step for Collegium as it continues to expand within the ADHD therapeutic space, bringing together two differentiated medicines that address unmet needs among children and adults living with Attention Deficit Hyperactivity Disorder.