Avadel shares jump as Alkermes raises buyout bid

H Lundbeck A/S

19/11/2025 11:37

** Shares of drugmaker Avadel Pharmaceuticals AVDL.O rise 1.57% to $23.30 premarket

** Alkermes ALKS.O says it has increased its offer to buy AVDL, valuing the company at up to $2.37 billion

** Alkermes will pay $21/share in cash, along with a contingent value right of $1.50 tied to U.S. approval of AVDL's sleep disorder drug lumryz for idiopathic hypersomnia - ALKS

** AVDL's board recommends ALKS' offer over rival Lundbeck's HLUNa.CO bid, citing more attractive CVR terms - ALKS

** Deal expected to close in Q1 2026

** Shares of Alkermes rise 1% to $29.41 premarket

** Up to last close, AVDL shares have more than doubled YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))