What Corium does

Corium is a commercial-stage biopharmaceutical company founded in 1999 and headquartered in Grand Rapids, Michigan, that developed and commercialized prescription pharmaceutical products for central nervous system (CNS) conditions, with its primary commercial asset being AZSTARYS, an FDA-approved treatment for Attention Deficit Hyperactivity Disorder (ADHD). The company operated with 251-500 employees and was backed by private equity investors including Gurnet Point Capital and Webster Equity Partners, the latter leading a financing round in October 2022. Corium's go-to-market motion centered on the specialty pharmaceutical channel, with the company generating revenue through the sale and commercialization of branded prescription medications rather than platform, licensing, or service-based models. Specific pricing structures, payer mix, and distribution arrangements are not disclosed in the available source data.

In 2026, Corium executed the most significant strategic action in its history: the sale of AZSTARYS to Collegium Pharmaceutical for up to $785 million, comprising $650 million in upfront consideration and up to $135 million in milestone payments. The deal was funded by Collegium through $350 million in cash and a $300 million delayed draw term loan, and was projected to deliver over $50 million in net revenue to Collegium in the second half of 2026 alone, signaling that AZSTARYS had achieved meaningful commercial momentum. The transaction represents a substantial divestiture that materially reshapes Corium's business profile, with limited public information available on remaining operations, pipeline assets, or forward strategic direction post-transaction. Leadership during this period included Perry Sternberg as President and Chief Executive Officer, Todd Smith as Chief Executive Officer, and Gary W. Cleary as Co-Founder, President, and Co-Chief Technology Officer.

Name

Corium

Website

https://corium.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

Corium is a commercial-stage biopharmaceutical company that developed and commercialized prescription CNS treatments, primarily AZSTARYS for ADHD, before divesting that flagship product to Collegium Pharmaceutical in 2026 for up to $785 million.

Ownership category

akta.pro rank

Headquarters

HQ city

Grand Rapids

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Core offering

Corium is a commercial-stage biopharmaceutical company that develops and commercializes specialty pharmaceutical products for the central nervous system. Its primary commercial product was AZSTARYS, a branded prescription medication for the treatment of Attention Deficit Hyperactivity Disorder (ADHD), which was divested to Collegium Pharmaceutical in 2026.

Product overview

Corium is a pharmaceutical company that developed and commercialized prescription drug products. The company's primary product was AZSTARYS, an ADHD treatment. Corium's product portfolio was focused on specialty pharmaceuticals, with AZSTARYS being a key branded medication. The company divested its AZSTARYS franchise to Collegium Pharmaceutical in 2026, and limited additional product details are available from the source material.

Differentiator

Problem solved

Functional benefit

Brands

• AZSTARYS: ADHD treatment product owned by Corium and subsequently sold to Collegium Pharmaceutical

Products and services

• AZSTARYS

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Collegium PharmaceuticalcoreOthers · 1 January 2026Collegium Pharmaceutical completed acquisition of AZSTARYS from Corium in a deal worth up to $785 million, with $650 million upfront plus up to $135 million in milestones. The deal is expected to be immediately accretive to Collegium and deliver over $50 million in net revenue in H2 2026. The transaction was funded by $350 million cash and $300 million delayed draw term loan.

Scale indicators2 records

Recent moves4 records

Expansion highlights2 records

Direct peers

• Tris Pharma: Tris Pharma is a specialty CNS pharmaceutical company that develops and commercializes ADHD treatments including Quillivant XR, Quillichew ER, and Adzenys — directly comparable to Corium's ADHD franchise around AZSTARYS in both therapeutic focus and patient population.
• Supernus Pharmaceuticals: Supernus is a specialty pharma company focused on CNS disorders, with ADHD (Qelbree) and epilepsy franchises. Comparable to Corium as a CNS-focused branded specialty pharma targeting overlapping prescriber bases.
• Neos Therapeutics: Neos Therapeutics developed and commercialized branded ADHD treatments including Adzenys XR-ODT and Cotempla XR-ODT, making it a direct competitor to Corium's AZSTARYS in the stimulant ADHD category.
• Ironshore Therapeutics: Ironshore Therapeutics developed Jornay PM, a branded ADHD treatment, positioning it as a direct competitor to Corium's AZSTARYS in the differentiated-stimulant ADHD segment.
• Rhodes Pharmaceuticals: Rhodes Pharmaceuticals is a specialty generics company with a meaningful ADHD portfolio, competing with Corium in the same prescriber and patient pool through lower-cost stimulant alternatives.
• Azurity Pharmaceuticals: Azurity (formerly Arbor Pharmaceuticals) markets branded ADHD products such as Evekeo and is a CNS-focused specialty pharma comparable to Corium in commercial-stage branded CNS product strategy.

Broad incumbents

• Collegium Pharmaceutical: Collegium Pharmaceutical is a specialty pharma company that acquired AZSTARYS from Corium in 2026; while not a direct pre-deal competitor, it operates in adjacent CNS/pain specialty pharma and serves as a benchmark for how Corium's assets are valued in the broader specialty CNS market.
• Jazz Pharmaceuticals: Jazz Pharmaceuticals is a larger specialty pharma with a CNS franchise (e.g., Xywav, Sunosi) that overlaps commercially with Corium in CNS prescribing audiences and serves as a broad incumbent comparable for branded CNS commercialization economics.

Emerging players

• Adamas Pharmaceuticals: Adamas developed and commercialized Gocovri, a CNS specialty product, making it a smaller-scale CNS specialty pharma comparable to Corium in business model and therapeutic category even though not directly overlapping in ADHD.
• KemPharm: KemPharm is a specialty CNS pharma that developed prodrug stimulant ADHD treatments (e.g., Azstarys-related prodrug technology), making it a directly relevant emerging player in the differentiated-stimulant ADHD space Corium operated in.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/coriumus
• LinkedInlinkedin.com/company/corium

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors2 records

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

M&A

Investments

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

Frequently asked questions about Corium