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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