M&A
confidence high
sentiment neutral
materiality 0.60
Collegium files BDSI acquisition pro forma; $669M total consideration, $75M annual synergy target
COLLEGIUM PHARMACEUTICAL, INC
- Total consideration for BDSI acquisition: $669.4M ($606.4M cash to stockholders at $5.60/share + $63.0M to retire BDSI debt).
- Pro forma combined 2021 revenue $443.6M, net income $23.5M after $132.9M in transaction-related adjustments.
- Company expects at least $75M in annual run-rate cost synergies within 12 months of closing (headcount reductions and consolidation).
- Acquisition financed via a new $650.0M term loan (modification of existing Collegium term loan); BDSI term loan paid at close.
- Preliminary purchase price allocation includes $445M in identifiable intangible assets (Belbuca, Symproic, Elyxyb) and $134M in goodwill.