Avadel Pharmaceuticals
| Company type | Public |
|---|---|
| Nasdaq: AVDL | |
| Industry | Pharmaceutical industry |
| Founded | 1990 in Lyon, France |
| Headquarters | , |
Key people | |
| Products | Lumryz |
| Services | Sleep disorder treatment |
| Revenue | $ 150.2M (Dec31, 2016)[1] |
| Owner | Alkermes |
| Website | www |
Avadel Pharmaceuticals plc was an Irish specialty pharmaceutical company focused on sleep disorder medicines marketed for hospital and primary care treatments. Headquartered in Dublin, Ireland, it had operations in St. Louis, Missouri and Lyon, France.[2] It was a developer of the US FDA-approved anti-narcolepsy medication LUMRYZ (sodium oxybate).[3][4] It was acquired by Alkermes in February 2026.[4]
History
Founded as Flamel Technologies SA in Lyon, France, in 1990,[5] the company acquired FSC Holdings and its pediatric, therapeutics, and laboratory subsidiaries in 2016.[6] in January 2017, Flamel, Éclat, and FCS Pediatrics became Avadel Pharmaceuticals following a cross-border merger from France to Ireland.[7]
When Craig Stapleton resigned as chairman in 2019, COO Gregory Divis temporarily assumed the role of CEO after Mike Anderson resigned;[8] that same year, Avadel filed for Chapter 11 bankruptcy.[9] In 2023, a year after acquiring Éclat Pharmaceuticals,[10][11] it received FDA approval for Lumryz, a prolonged-release oral suspension of sodium oxybate.[12]
In 2025, a bidding war ensued between Irish Alkermes plc and Danish Lundbeck over the acquisition of Avadel. In October, Alkerms made an offer for up to $2.1 billion, which included $18.50 per share in cash plus $1.50 per share contingent on expanded approval of Lumryz by the end of 2028.
Lundbeck then offered a competing bid with the same cash per share amount but with up to $2 per share tied to future sales milestones for Lumryz and valiloxybate, an experimental therapy. Alkermes then revised their offer to $21 per share in cash and the contingent $1.50 per share.
When Alkermes' revised $2.37 billion offer was accepted by the drugmaker's board in November, the deal was expected to close in the first quarter of 2026.[13] On February 12, 2026, it was announced that Alkermes had completed the acquisition of Avadel,[4] after which Avadel was delisted.[4][3]
References
- ^ "Company Key Statistics".
- ^ "Investor Home". investors.avadel.com. Retrieved 26 June 2017.
- ^ a b "Alkermes Completes Acquisition and Delisting of Avadel Pharmaceuticals". Globe and Mail. 13 February 2026. Retrieved 13 March 2026.
- ^ a b c d "Alkermes plc Completes Acquisition of Avadel Pharmaceuticals plc, Accelerating Entry Into Sleep Medicine Market". Yahoo! Finance. Retrieved 20 February 2026.
- ^ "Presentations | Investors | Avadel Pharmaceuticals". investors.avadel.com. Retrieved 17 July 2017.
- ^ "Flamel Technologies Acquires FSC Pediatrics". marketwired.com. 8 February 2016. Retrieved 7 March 2017.
- ^ "Flamel Technologies Completes Cross-Border Merger and Becomes Avadel Pharmaceuticals plc". globenewswire.com (Press release). 3 January 2017. Retrieved 7 March 2017.
- ^ "Avadel chief executive resigns suddenly". The Irish Times. 3 January 2019. Archived from the original on 3 January 2019. Retrieved 30 October 2020.
- ^ "Avadel Specialty Pharmaceuticals files for Chapter 11 bankruptcy". The Wall Street Journal. 7 February 2019. Retrieved 24 February 2023.
- ^ "About Us". eclatpharma.com. Retrieved 29 December 2014.
- ^ "Flamel Technologies Announces Acquisition of Éclat Pharmaceuticals". businesswire.com. 14 March 2012. Retrieved 29 December 2014.
- ^ Brooks, Megan. "FDA OKs Once-Nightly Sodium Oxybate for Narcolepsy". Medscape. Retrieved 14 July 2023.
- ^ Choudhury, Kamal; Mahatole, Siddhi (19 November 2025). "Avadel board backs Alkermes' higher offer over Lundbeck proposal". Reuters. Retrieved 4 December 2025.
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