Collegium to acquire pain drug developer BioDelivery Sciences
Shares of specialty drugmaker BioDelivery Sciences International (Nasdaq: BDS) shot up 52% to $3.64 in pre-market trading today, after it agreed to be acquired by fellow USA-based Collegium Pharmaceuticals (Nasdaq: COLL) for $5.60 per share in cash. Collegium edged up 2.3% on the news.
The offer price represents a 54% premium to BDSI closing share price of $3.64 as of Friday, February 11, and implies a fully diluted equity value of around $604 million using the treasury stock method. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close late in the first quarter 2022, subject to customary closing conditions.
Portfolio of pain and neurology products
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