H Lundbeck steps down from takeover for Avadel, shares rise 3%

H Lundbeck A/S

27/11/2025 08:29

** Shares in H Lundbeck HLUNa.CO rise 3.3% after the Danish pharmaceutical company said it would not increase a purchase price in a takeover offer for Avadel Pharmaceuticals AVDL.O

** Lundbeck added that its strategic rationale for engaging in the sleep disorders space stays "fully intact"

** The Danish company made an unsolicited bid for Avadel on November 14, offering up to $23 per share

** Drugmaker Alkermes ALKS.O, who also made a bid for Avadel, sweetened its offer to $2.37 billion, which Avadel's board recommended to its shareholders on November 19

** H Lundbeck shares were up 1.3% at 08:27 GMT

 (Reporting by Vera Dvorakova)

 ((vera.dvorakova@thomsonreuters.com))