Joe Ciaffoni, Collegium Pharmaceutical CEO (via Collegium website)

Small pain drug play­er gets snapped up in $604M buy­out — and the axe will soon fall

The small pain ther­a­py play­er BioDe­liv­ery Sci­ences is get­ting scooped up in a $604 mil­lion buy­out.

Col­legium Phar­ma­ceu­ti­cal, a some­what larg­er play­er in the pain are­na that start­ed the day with a mar­ket cap right at the buy­out size, is do­ing the ac­quir­ing here for $5.60 per share, good for a 50% spike in the stock price ahead of the bell Mon­day.

In ex­change for the mon­ey, Col­legium is get­ting a sched­ule 3 opi­oid called Bel­bu­ca and an oral mi­graine ther­a­py called Elyxyb, which BioDe­liv­ery ac­quired from Dr. Red­dy’s and ush­ered in­to the US mar­ket as a pre­mier oral treat­ment at a time when a raft of new mi­graine drugs have been jump­ing in­to the mar­ket.

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