Assertio Therapeutics, Inc. rallies on Deal

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.
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Assertio Therapeutics, Inc. engages in the manufacture and distribution of pharmaceutical products to treat pain and other central nervous system conditions. Its brands include Gralise, Zipsor, Lazanda, Cambia, NUCYNTA ER and NUCYNTA. The firm focuses on neurology, orphan and specialty medicines. The company was founded by John W. Shell on August 7, 1995 and is headquartered in Lake Forest, IL.