COLL - Collegium Reports Definitive Agreement to Acquire BioDelivery Sciences

Collegium Pharmaceutical, Inc. (NASDAQ: COLL) and BioDelivery Sciences International Inc. (NASDAQ: BDSI) have announced a definitive agreement where Collegium will acquire BDSI for USD 5.60 per share in cash.  BDSI holds a portfolio of pain and neurology products that focus on serious and debilitating conditions.  “We are excited to announce this acquisition, which represents a major step forward in our mission to build a leading, diversified specialty pharmaceutical company committed to improving the lives of people suffering from serious medical conditions,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “The BDSI portfolio expands and enhances Collegium’s differentiated pain offerings and establishes a foothold in neurology, a strategic market adjacency. Importantly, we expect this acquisition will be immediately and highly accretive by expanding our revenue scale and generating significant synergies.”

“We are pleased to announce the transaction with Collegium, which we view as a testament to the attractiveness of our portfolio and long-term value of our brands,” said Jeff Bailey, Chief Executive Officer of BDSI. “Our team has worked diligently to grow our differentiated products. We believe that this transaction will deliver benefits to patients and prescribers and create significant value for our shareholders.”

This transaction has been unanimously approved by boards of directors of both companies.  The transaction is expected to close later in the first quarter of 2022 and is subject to customary closing conditions.

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