Avadel rises after Alkermes' $2.1 billion buyout deal

Alkermes

22/10/2025 12:35

** Shares of drugmaker Avadel Pharmaceuticals AVDL.O up 4.1% at $18.61 premarket

** Alkermes ALKS.O says it will buy Avadel in an up to $2.1 billion deal

** Deal includes Avadel's once-nightly drug, Lumryz, approved for excessive daytime sleepiness and sudden muscle weakness

** Alkermes will pay $18.50 per share in cash, plus a potential $1.50 per share contingent upon final FDA approval of Lumryz for the treatment of a type of sleep disorder called idiopathic hypersomnia in adults by 2028-end

** Alkermes to fund deal with cash and new debt

** Companies expect the deal to close in Q1 2026

** Up to last close, Avadel shares up ~70% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))