Collegium, BioDelivery To Combine Pain Portfolios In Proposed Merger

 
• By Joseph Haas
  
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Collegium has offered a 54% share premium to acquire competitor BioDelivery, in an offer approved by both firm’s boards. The $604m price tag would double the size of Collegium’s product portfolio.

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Collegium and BioDelivery have agreed to a merger joining their pain medication portfolios

In a proposed merger of two pain-focused specialty pharmas, Collegium Pharmaceutical, Inc. will acquire BioDelivery Sciences International, Inc. for approximately $604m, the companies announced on 14 February. On a same-day investor call, Collegium CEO Joseph Ciaffoni said BioDelivery was his firm’s top acquisition target because of complementary product portfolios and the expectation of rapid accretion, as well as an estimated $75m in synergies.

The deal would primarily combine Collegium’s Xtampza ER, an extended-release formulation of oxycodone indicated for chronic lower back pain (CLBP),...

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