Shots:
- Alkermes has entered into a definitive agreement to acquire Avadel, incl. its asset Lumryz, accelerating its entry into the sleep medicine market
- As per the deal, Alkermes will acquire Avadel for $18.5/share, along with one non-tradeable CVR of $1.5/share tied to Lumryz’s US FDA approval for idiopathic hypersomnia in adults by 2028 end, representing the total equity value of ~$2.1B; closing expected in Q1’26
- Lumryz (HS, sodium oxybate) is approved for treating cataplexy or excessive daytime sleepiness in narcolepsy pts (≥7yrs.) & is being studied in a P-III trial for idiopathic hypersomnia
Ref: Alkermes | Image: Avadel Pharmaceuticals | Press Release
Related News:- Ipsen Acquires ImCheck Therapeutics, Enhancing its Oncology Leadership and Strengthening its Pipeline
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com
