Commercial Raleigh-based specialty pharma company BDSI To Be Acquired By...

Raleigh-based specialty pharma company BDSI To Be Acquired By Collegium Pharma for $604m


Financial Details:

Collegium Pharmaceutical has its eyes on taking over all outstanding shares of BDSI for $604 million or at the rate of $5.60 per share of BioDelivery stock price. A definitive agreement for BioDelivery Sciences acquisition is being signed between the two parties.

As part of the consensus, Collegium will start the process for the $604 million acquisition. 

Collegium is planning to finance this merger through both the company’s cash in hand and the $650 million capital provided by the Pharmakon Advisors-managed funds.

Portfolio of Drugs

Primarily a pharmaceutical firm, BDSI’s pain products are intended for chronic and disabling neurological diseases.

Collegium’s collection of pain products is greatly benefited with the addition of BDSI’s opioid drug BELBUCA. 

Among BDSI’s other specialized products is Symproic and ELYXYB in the early stages of development. 

Collegium expects that the BioDelivery Sciences acquisition will open further expansion opportunities and will increase the company’s profits and allow it to make a breakthrough in the neurology market with ELYXYB.

The BDSI and Collegium agreement was reached only when the Board of Directors of both companies were on the same page when it came to this merger.

Collegium is expected to complete the merger by the current year’s first quarter. 

Financial and Legal Representatives

Moelis & Company and Goodwin Procter are advising BDSI on the financial and legal details of the merger. 

Jeffries is the sole financial counsel and Troutman Pepper Hamilton Sanders is performing the duty of legal advisor for Collegium.

Remarks by BDSI CEO:

BDSI CEO Jeff Bailey said: “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.

“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.”

+ posts

Latest news

Revvity introduces advanced preclinical imaging tech for scientists to make breakthroughs

Revvity, Inc. is ushering in a new era of innovation in the realm of preclinical research by...

European Commission Approves Updated Pfizer-BioNTech Vaccine for Omicron XBB.1.5 Variant

The European Commission has recently achieved a significant milestone in the ongoing battle against COVID-19 in preparation...

NICE gives Chiesi’s Elfabrio go ahead

Chiesi has recently garnered a favorable recommendation from the National Institute for Health and Care Excellence (NICE)...

Must read

Surrounded by controversy, FDA approves Biogen’s Alzheimer’s drug Aduhelm

In the middle of the debate about the Alzheimer’s drug approval, the United States FDA has authorized Aduhelm

You might also likeRELATED
Recommended to you