The deal will bring the narcolepsy treatment LUMRYZ under the Alkermes portfolio.
Key takeaways:
- Shareholders of Avadel Pharmaceuticals plc have approved the company’s proposed acquisition by Alkermes plc.
- The resolutions were passed with requisite majorities at shareholder meetings held on Jan 12.
- Avadel is the developer of LUMRYZ, a once-at-bedtime oxybate for treating cataplexy or excessive daytime sleepiness in patients with narcolepsy.
- The transaction is still subject to the sanction of the Irish High Court and other conditions.
Shareholders of Avadel Pharmaceuticals plc have approved the company’s proposed acquisition by Alkermes plc, marking a key step in finalizing the transaction.
According to a Jan 12 announcement, the resolutions required to approve the acquisition were passed by the requisite majorities at a shareholder scheme meeting and an extraordinary general meeting. At the scheme meeting, the proposal was approved by 95.24% of shareholders of record who voted, representing more than 75% of the value of the shares voted.
The acquisition will bring Avadel’s commercial product, LUMRYZ, into the Alkermes portfolio. LUMRYZ, approved by the US Food and Drug Administration, is a once-at-bedtime extended-release oral suspension of sodium oxybate for the treatment of cataplexy or excessive daytime sleepiness in patients 7 years and older with narcolepsy.
The transaction, first announced in October 2025, remains subject to certain conditions, including sanction by the Irish High Court.
