Assertio Therapeutics Announces Sale of NUCYNTA® Franchise to Collegium Pharmaceutical for $375.0 Million
Company Intends to Use Cash Proceeds to Retire its Outstanding Debt
Company Intends to Use Improved Balance Sheet to Pursue Business Development, Strategic Partnerships and Investment Opportunities
Under the terms of the agreement, Collegium will pay Assertio
“A key element of Assertio’s transformation over the last several years has been its focus on aggressive de-leveraging. We have done that successfully by consistently delivering strong bottom line performance and today we look to end that journey. With this transaction, our goal is to retire our outstanding debt and have approximately
“We have enjoyed a great commercial partnership with Collegium and it became clear that they would be the ideal long-term home for the NUCYNTA® franchise, given their position as the leader in responsible pain management and the synergistic fit of the NUCYNTA® franchise in their portfolio.”
Stifel acted as exclusive financial advisor to Assertio in this transaction and
The Company is also announcing that it is no longer pursuing the development of long-acting cosyntropin. Based on discussions with our partner
Additional details can be found in the Company’s Form 8-K filed with the
About NUCYNTA® and NUCYNTA® ER
NUCYNTA® is a strong prescription pain medicine that contains an opioid (narcotic) that is used to manage short-term (acute) pain in adults when other pain treatments, such as non-opioid pain medicines, do not treat your pain well enough or you cannot tolerate them.
NUCYNTA® ER is a strong prescription pain medicine that contains an opioid (narcotic) that is used to manage pain severe enough to require daily, around-the-clock, long-term treatment with an opioid when other pain treatments, such as non-opioid pain medicines or immediate-release opioid medicines, do not treat your pain well enough or you cannot tolerate them.
Collegium is a specialty pharmaceutical company committed to being the leader in responsible pain management. Collegium’s headquarters are located in
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements. These statements involve inherent risks and uncertainties that could cause actual results, including for 2019, to differ materially from those estimated, projected or anticipated, including expectations regarding the closing of the sale of the NUCYNTA® franchise to
Investor and Media Contact:
Senior Vice President and Chief Financial Officer
Source: Assertio Therapeutics, Inc.
Minimum 15 minutes delayed.