May 7, 2020

Impact: Moderate

Supernus Pharmaceuticals announced that it will acquire the CNS portfolio of US WorldMeds, including Apokyn, Myobloc, and Xadago, as well as the phase 3 Apomorphine Infusion Pump, which is expected to be filed in 2H 2020. For Supernus, the acquisition aligns with its corporate strategy to diversify its product portfolio into PD and other movements disorders, building on its marketed products in epilepsy and pipeline in psychiatric disease. The acquisition expands Supernus’ commercial platform to include sales and marketing capabilities, which will work toward achieving potential peak sales of $100M-$175M for Apomorphine Infusion Pump.

An upfront cash payment of $300M will be made plus regulatory and commercial milestones up to $230M. The transaction is anticipated to close in 2Q 2020.

inThought Analysis

Supernus has been an independent CNS company since 2005 and was previously a division of Shire since 1997. The company has two drugs for epilepsy on the market, Trokendi XR and Oxtellar XR. In addition, the company has an ADHD drug under review, a phase 3 drug for bipolar, and two phase 1 assets for depression and severe epilepsy. 2019 product revenue was $383M.

Compared to US WorldMeds, Supernus has more experience in the CNS space, including connections to neurologists. This should increase the chance that Apomorphine Infusion Pump reaches a higher end of estimated peak sales.