ADHD Treatment Business $900 Million Bet: U.S. Pharma Company Accelerates Portfolio Expansion

Collegium Pharmaceutical, Inc. (NASDAQ: COLL), a U.S. specialty CNS pharmaceutical company, announced on May 12 that it has completed the acquisition of ADHD treatment AZSTARYS from Corium Therapeutics for approximately $650 million (about KRW 900 billion), plus up to $135 million (about KRW 2 trillion) in potential milestone payments. The company expects to realize more than $50 million in annual synergies within 12 months of closing and forecasts AZSTARYS sales of $60–70 million for the remainder of 2026. As a result, Collegium raised its full-year 2026 guidance to product revenues of $865–895 million (approximately KRW 1.1–1.2 trillion) and adjusted EBITDA of $475–500 million. At the same time, it disclosed that Chief Commercial Officer Scott Drayer will depart at the end of August 2026, and Chief Medical Officer Thomas Smith will step down after a transition period following the appointment of his successor. (Source: globenewswire.com)

On June 5, Collegium announced grants of stock options and restricted stock units to support new talent recruitment, and in early May it reiterated its post-acquisition growth strategy and updated annual outlook alongside its first-quarter earnings release. (Source: ir.collegiumpharma.com)

Collegium Pharmaceutical has historically grown through chronic pain therapies; with the AZSTARYS acquisition, it is broadening its central nervous system portfolio to include ADHD and diversifying its revenue base. The ADHD market is highly influenced by patent protection, generic competition, and reimbursement dynamics, making branded products with extended exclusivity particularly valuable. (Source: ir.collegiumpharma.com)