SUPN | Market Cap: $2.7B (07/13/26)
Industry:
Pharma & Biotech

DESCRIPTION

Supernus is a specialty biopharmaceutical company focused on CNS disorders, with a commercial portfolio spanning ADHD, Parkinson's disease, and postpartum depression. Its four core products are Qelbree, GOCOVRI, ZURZUVAE, and ONAPGO. Qelbree is a non-stimulant ADHD treatment for adults and children, the first novel non-stimulant approved since 2011, and accounts for roughly 49% of total revenue. GOCOVRI is the only FDA-approved medicine for both dyskinesia and "OFF" episodes in Parkinson's patients on levodopa, accounting for roughly 23% of revenue. ZURZUVAE, acquired via the July 2025 Sage Therapeutics deal, is the first oral treatment approved specifically for postpartum depression; it is co-commercialized with Biogen, which records sales and splits operating profits 50/50 with Supernus. ONAPGO, launched in April 2025, is the first subcutaneous apomorphine infusion device for advanced Parkinson's patients, priced at roughly $100K–$105K per patient per year. Supernus sells through three dedicated U.S. sales forces targeting movement disorder specialists, psychiatrists and primary care physicians, and psychiatrists and OB/GYNs. Products are distributed through major wholesalers and specialty pharmacies. Supernus outsources all manufacturing to contract manufacturers, keeping capital requirements low. Legacy epilepsy products Trokendi XR and Oxtellar XR have lost exclusivity and are in steep decline. Supernus carries no debt and is actively pursuing acquisitions in the $500M–$1.5B range.

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