Rockville, MD, October 11 (Reuters) – Supernus Pharmaceuticals Inc (SUPN.O) said on Monday it would buy Adamas Pharmaceuticals Inc (ADMS.O) for about $400 million, to expand its roster of treatments for Parkinson’s disease and reduce reliance on its top-selling epilepsy medicine.
Supernus, which makes drugs for central nervous system disorders, will get access to Adamas’ products Gocovri extended release capsules and Osmolex ER for treating Parkinson’s disease.
Adamas shareholders will get a cash payment of $8.10 per share, a premium of 75.7% to Adamas’ Friday closing price. They are also entitled to an additional payment of up to $1.00 per share subject to certain net sales milestones for Gocovri.
The deal will help Supernus reduce dependence on Trokendi XR, used to prevent migraines and treat epilepsy, which made up about 57% of Supernus’ net product sales of $138.6 million in the second quarter.