Supernus Bolsters Parkinson's Portfolio With $450M Adamas Buyout: Highlights

Author: Vandana Singh | October 11, 2021 07:53am

• Supernus Pharmaceuticals Inc (NASDAQ:SUPN) has agreed to acquire Adamas Pharmaceuticals Inc (NASDAQ:ADMS) for $9.10 per share, or $450 million.
• The deal consideration includes $8.10 per share in cash ($400 million) and two non-tradable contingent value rights (CVR) collectively worth up to $1.00 per share in cash. 
• As of June 30, Supernus had $855.3 million in cash, cash equivalents.
• The transaction is expected to close in late Q4 of 2021 or early Q1 of 2022.
• The transaction strengthens Parkinson's disease portfolio with Gocovri (amantadine), the first and only FDA-approved medicine for OFF and dyskinesia in Parkinson's disease patients receiving levodopa-based therapy.
• Adamas has another product, Osmolex ER (amantadine), for Parkinson's disease and drug-induced extrapyramidal reactions.
• The Companies expect potential synergies of $60 million - $80 million in year one.
• The acquisition is expected to be significantly accretive in 2022.
• The Companies will conduct a conference call and a live webcast today at 8:30 a.m. ET.
• Price Action: ADMS stock is up 72.20% at $7.94 during the premarket session on the last check Monday. SUPN shares closed 1.68% lower at $26.37 on Friday.

Posted In: ADMS SUPN