Collegium Pharmaceutical, Inc. announced the acquisition of GPC Commave Holding, LLC and Commave Sub, LLC for approximately $650 million in cash on May 12, 2026, as part of an Equity Purchase Agreement signed on March 19, 2026. This acquisition includes AZSTARYS®, a treatment for ADHD, and contingent payments of up to $135 million tied to future milestones, funded through existing cash and a term loan.