What Collegium Pharmaceutical does

Collegium Pharmaceutical is a US specialty pharmaceutical company that develops, acquires, and commercializes differentiated prescription medications for serious medical conditions, primarily severe and persistent pain and attention deficit hyperactivity disorder (ADHD). The pain portfolio includes proprietary abuse-deterrent and extended-release products such as Xtampza ER (abuse-deterrent oxycodone), Nucynta IR and Nucynta ER (tapentadol), Belbuca (buprenorphine buccal film), and Symproic (naldemedine for opioid-induced constipation). The ADHD franchise comprises JORNAY PM (methylphenidate extended-release), developed internally and scaled following the 2024 Ironshore Therapeutics acquisition, and AZSTARYS (serdexmethylphenidate and dexmethylphenidate), acquired from Corium Therapeutics in May 2026 with patent protection extending into 2037.

The company operates a US-focused commercial model with a dedicated field sales force promoting products directly to pain specialists, physicians, psychiatrists, and pediatricians, supported by medical conference presence, healthcare professional education, and consumer awareness campaigns. Revenue is generated primarily through prescription drug sales distributed through US pharmacies, with a recent authorized-generic partnership with Hikma Pharmaceuticals USA for the Nucynta franchise extending the commercial model beyond branded sales. Full-year 2025 revenue was $780.6M (up 24% YoY), and 2026 guidance was raised to $865-895M following the AZSTARYS acquisition.

Collegium has grown primarily through M&A — including BioDelivery Sciences International (2022, ~$604M), Ironshore Therapeutics (2024, $525M), and AZSTARYS (2026, $650M plus up to $135M in milestones) — supported by a $980M syndicated credit facility closed in December 2025. The company is publicly traded on NASDAQ under ticker COLL, headquartered in Stoughton, Massachusetts, and led since November 2024 by CEO Vikram Karnani, whose executive team is largely recruited from Amgen and Horizon Therapeutics.

Name

Collegium Pharmaceutical

Legal name

Collegium Pharmaceutical, Inc.

Website

https://collegiumpharma.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Collegium Pharmaceutical is a US specialty pharmaceutical company that commercializes branded prescription medications for severe pain and ADHD, including Xtampza ER, Nucynta, Belbuca, JORNAY PM, and AZSTARYS, sold through a US field sales force to physicians and dispensed via pharmacies.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Specialty Care Pharmaceuticals (HLAIAAAB)

akta.pro secondary industry

Primary Care & General Medicine Pharmaceuticals (HLAIAAAA)

Keywords

• Specialty pharmaceuticals
• Pain management medications
• ADHD treatment drugs
• Abuse-deterrent formulations
• Extended-release therapeutics

Headquarters

HQ city

Stoughton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Marketing or Sales, Personnel, Operations, Supply Chain, Technology or R&D

Revenue model

1. Specialty Pharmaceutical Product Sales: Collegium generates revenue through direct sales of proprietary specialty pharmaceutical products in the United States, including pain management medications (Nucynta, Nucynta ER, Belbuca, Xtampza ER, Symproic) and ADHD treatments (JORNAY PM, AZSTARYS). The company markets products through its commercial organization and generates product revenues from healthcare provider prescriptions.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Collegium Pharmaceutical is a specialty pharmaceutical company that markets a portfolio of FDA-approved prescription medications for serious medical conditions, primarily focused on severe and persistent pain management (Xtampza ER, Nucynta IR/ER, Belbuca, Symproic) and attention deficit hyperactivity disorder (JORNAY PM, AZSTARYS). The company develops, acquires, and commercializes these branded and authorized generic medications through its US-based commercial organization and direct sales force targeting healthcare providers.

Product overview

Collegium Pharmaceutical is a diversified specialty biopharmaceutical company that markets a portfolio of differentiated medications for serious medical conditions, primarily focused on severe and persistent pain management and attention deficit hyperactivity disorder (ADHD). The pain portfolio includes internally developed and acquired products: Xtampza ER (abuse-deterrent oxycodone), Belbuca (buprenorphine buccal film), Nucynta IR/ER (tapentadol), and Symproic (for opioid-induced constipation). The ADHD franchise includes JORNAY PM (internally developed) and AZSTARYS (acquired from Corium in 2026). The company operates through a combination of brand-name commercial products and authorized generic partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• AZSTARYS: ADHD medication containing serdexmethylphenidate and dexmethylphenidate
• JORNAY PM
• Belbuca
• NUCYNTA
• NUCYNTA ER
• SYMPROIC
• XTAMPZA

Products and services

• Xtampza ER Abuse-deterrent extended-release oxycodone capsules for the management of severe and persistent pain requiring an around-the-clock opioid analgesic.
• Nucynta IR Immediate-release tapentadol tablets for the management of severe and acute pain.
• Nucynta ER Extended-release tapentadol tablets for the management of severe and persistent pain requiring around-the-clock opioid treatment.
• Belbuca Buprenorphine buccal film for the management of severe and persistent pain requiring around-the-clock opioid analgesic.
• Symproic Naldemedine tablets for the treatment of opioid-induced constipation (OIC) in adults with chronic non-cancer pain.
• JORNAY PM Methylphenidate HCl extended-release capsules for the treatment of attention deficit hyperactivity disorder (ADHD) in patients 6 years and older.
• AZSTARYS Serdexmethylphenidate and dexmethylphenidate capsules for the treatment of ADHD, providing a dual-action prodrug approach combined with immediate-release methylphenidate.

Quantifiable outcome

• Full-year 2025 revenues of $780.6 million (up 24% year-over-year)
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered flagship, core and minor.

• Paris HiltonflagshipGTM or Marketing Partner · 15 March 2026Paris Hilton, diagnosed with ADHD as an adult, partnered with Collegium Pharmaceutical for the 'Embrace Your Sparkle' campaign to raise awareness about ADHD, which affects an estimated 15.5 million adults and 6.5 million children in the U.S. Hilton shared her personal experience with ADHD and her use of Collegium's medication JORNAY PM.
• Hikma Pharmaceuticals USAcoreChannel Partner/ Reseller/ Distributor · 26 February 2026Collegium entered into supply and quality agreements with Hikma Pharmaceuticals USA for authorized generic versions of Nucynta and Nucynta ER in the United States. This partnership transitions the Nucynta franchise to an authorized generic model while maintaining brand revenue.
• Boston Legacy FCminorGTM or Marketing Partner · 23 February 2026Collegium entered a multi-year partnership with Boston Legacy FC to create sensory-inclusive spaces at stadiums (Gillette Stadium, Centreville Bank Stadium, White Stadium), designed with input from ADHD advocacy groups including CHADD. Partnership supports inclusive community programming for youth and caregivers.
• CHADDminorGTM or Marketing Partner · 23 February 2026ADHD advocacy organization providing input on sensory room design for Boston Legacy FC partnership, supporting neurodivergent fans and aligning with Collegium's focus on central nervous system conditions.
• Boston Red SoxminorGTM or Marketing Partner · 29 October 2025Collegium partners with Boston Red Sox and Science from Scientists to provide educational, baseball-themed science experiments for kids and families at select home games, supporting STEM education initiatives.
• Science from ScientistsminorGTM or Marketing Partner · 29 October 2025STEM education organization collaborating with Collegium on baseball-themed science experiments at Boston Red Sox games as part of company's educational outreach programs.
• Scholarship AmericaminorOthers · 1 January 2023Collegium partners with Scholarship America to award two full-ride scholarships annually to Massachusetts-based high school seniors pursuing STEM-related majors at US universities, supporting next generation of life science leaders.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Pfizer: Pfizer operates a substantial specialty pharma business with products across pain, neurology, and ADHD categories. As a large incumbent with broad portfolio offerings, Pfizer competes for the same healthcare providers and represents scale competition for specialty franchises like Collegium's.
• Teva Pharmaceutical Industries: Teva is a large global pharmaceutical company with a major specialty franchise including pain products (abuse-deterrent opioids) and CNS/ADHD assets. Its specialty pharma business competes broadly with Collegium's portfolio across multiple therapeutic areas.

Direct peers

• Tris Pharma: Tris Pharma is a specialty pharmaceutical company with proprietary ADHD and pain products, including extended-release stimulant formulations that compete with Collegium's JORNAY PM and AZSTARYS in the ADHD market.
• Endo International: Endo is a specialty pharmaceutical company with a significant pain management portfolio including opioid and non-opioid products. Endo's commercial model and target prescriber base (pain specialists, primary care) closely mirror Collegium's pain franchise.
• Mallinckrodt Pharmaceuticals: Mallinckrodt operates a specialty pharma business heavily focused on pain management (including abuse-deterrent opioids) and ADHD (previously through its specialty brands). It is one of the closest direct competitors in the branded specialty pain category.
• Assertio Therapeutics: Assertio is a specialty pharmaceutical company focused on pain and CNS conditions, with products including abuse-deterrent formulations. Its commercial focus on pain prescribers and specialty distribution model closely parallel Collegium's pain portfolio strategy.
• Supernus Pharmaceuticals: Supernus is a specialty pharmaceutical company with a leading ADHD/neurology franchise (Qelbree, Trokendi XR) that directly overlaps with Collegium's JORNAY PM and AZSTARYS. Both companies target similar prescribers (psychiatrists, pediatricians) and compete for the same ADHD market.

Emerging players

• Aquestive Therapeutics: Aquestive is a specialty pharmaceutical company focused on CNS conditions using proprietary drug delivery and formulation technologies, including products in pain and neurology. Its technology-driven specialty model overlaps with Collegium's formulation-based differentiation strategy.
• ANI Pharmaceuticals: ANI is a specialty pharmaceutical company with branded and generic products across therapeutic categories including pain and CNS. It competes for similar prescribers and uses a hybrid specialty/generic model that overlaps parts of Collegium's portfolio.

Regional players

• Alvogen: Alvogen is a specialty/generic pharmaceutical company with significant pain management offerings, including abuse-deterrent and specialty pain products in the US market. Comparable specialty distribution model and prescriber relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/collegium-pharmaceutical

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds10 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Collegium Pharmaceutical