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Supernus Pharma to acquire Adamas Pharma and with it Gocovri ,which is FDA approved for Parkinson's disease

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Last updated:13th Oct 2021
Published:13th Oct 2021
Supernus Pharmaceuticals Inc, and Adamas Pharmaceuticals, Inc., announced a definitive agreement for Supernus to acquire Adamas through a tender offer for $8.10 per share in cash (or an aggregate of approximately $400 million), payable at closing plus two non-tradable contingent value rights (CVR) collectively worth up to $1.00 per share in cash (or an aggregate of approximately $50 million), for a total consideration of $9.10 per share in cash (or an aggregate of approximately $450 million).

The first CVR, worth $0.50 per share, is payable upon achieving net sales of Gocovri of $150 million in any four consecutive quarters between closing and the end of 2024. The second CVR, worth $0.50 per share, is payable upon achieving net sales of Gocovri of $225 million in any four consecutive quarters between closing and the end of 2025. The transaction is expected to close in late fourth quarter 2021 or in early first quarter 2022. The transaction will provide Supernus with two marketed products: Gocovri (amantadine) extended release capsules, the first and only FDA-approved medicine indicated for the treatment of both OFF and dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy; and Osmolex ER (amantadine) extended release tablets, approved for the treatment of Parkinson’s disease and drug-induced extrapyramidal reactions in adult patients.

Type: industry

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