US FDA expands approval for Avadel's sleep disorder drug (updated)

Avadel Pharmaceuticals

17/10/2024 14:59

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       Oct 17 - The U.S. Food and Drug Administration has
approved Avadel Pharmaceuticals'  AVDL.O  sleep disorder drug
for children aged 7 years and older, broadening its use and
heating up competition for widely used treatments from Jazz
Pharma. 
    Shares of Avadel rose 3.5% to $13.70 in early morning trade.
    The company said on Thursday the drug, called Lumryz, was
now approved to treat pediatric patients with sudden muscle
weakness called cataplexy or for excessive daytime sleepiness
(EDS), both symptoms of narcolepsy. It was approved for adults
in 2023. 
    Narcolepsy is a chronic neurological disorder that impacts
the brain's ability to regulate sleep and wake cycles, with 70%
of patients also experiencing cataplexy. 
        Dosed once a night, Lumryz competes with twice-nightly
drugs such as Jazz Pharmaceuticals'  JAZZ.O  Xyrem and Xywav. 
    
        
  

 (Reporting by Unnamalai L and Christy Santhosh in Bengaluru;
Editing by Devika Syamnath)
 ((Unnamalai.L@thomsonreuters.com;))