BioDelivery surges on Collegium's $604 mln acquisition

Collegium Pharmaceutical

14/02/2022 11:49

** Shares of drugmaker  BDSI.O  up 51.7% at $5.50 premarket 
    ** Collegium Pharmaceutical Inc  COLL.O  to buy co for
roughly $604 mln to expand its portfolio of pain drugs, and
enter market for neurological treatments  urn:newsml:reuters.com:*:nGNX9RDTym
    ** COLL agreed to pay $5.60/shr, a 53.8% premium to Friday's
closing price 
    ** COLL says it expects deal to immediately add to earnings
    ** BDSI sells opioid painkiller Belbuca, and owns rights to
sell Dr Reddy's Laboratories  REDY.NS  migraine drug Elyxyb in
the U.S. and Canada 
    ** Up to Friday's close, stock had fallen ~12% in past 12
months

 (Reporting by Manas Mishra)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))