Collegium Pharmaceutical (COLL) investor relations material

Deal rationale and strategic fit

• Expands presence in the ADHD market by adding a differentiated, complementary medicine, leveraging existing commercial infrastructure and supporting diversification beyond pain management.

• Reinforces leadership in ADHD, aligns with a disciplined capital allocation and business development strategy, and complements the current portfolio.

• Both medicines target different patient needs, minimizing cannibalization and maximizing market reach.

• Expected to extend ADHD revenue exclusivity and patent protection through 2037, five years beyond the current lead product.

• Enhances operating leverage and supports future margin expansion.

Financial terms and conditions

• Purchase price is $650 million in cash, with up to $135 million in contingent milestone payments tied to sales and regulatory events.

• Funded by cash on hand and a $300 million delayed draw term loan, with some sources noting $350 million cash on hand.

• Net debt to adjusted EBITDA expected to be approximately 2x post-close.

• Deal is immediately accretive to adjusted EBITDA.

• Transaction expected to close in Q2 2026, subject to customary closing conditions and regulatory approvals.

Synergies and expected cost savings

• Annual run rate synergies projected to exceed $50 million within twelve months post-closing.

• Significant operational synergies expected by leveraging overlapping prescriber and patient communities and shared ADHD infrastructure.

• Enhanced revenue scale and operational efficiencies anticipated.

• Immediate accretion to adjusted EBITDA and meaningful revenue contribution in 2026 and beyond.