08:42 AM EDT, 03/19/2026 (MT Newswires) -- Collegium Pharmaceutical ( COLL ) and Corium Therapeutics said Thursday they have entered a definitive agreement under which Collegium will acquire Azstarys for $650 million in cash, with up to $135 million in potential additional milestone payments.

Collegium Pharmaceutical ( COLL ) will fund the transaction through cash on hand and $300 million from a delayed draw term loan, according to the companies.

Azstarys, a central nervous system stimulant for the treatment of attention deficit hyperactivity disorder, is expected to generate more than $50 million in pro forma net revenue in H2, the companies said.

The transaction is expected to close in Q2, the companies said.