ALKS to Enter Sleep Disorder Market With $2.1B Avadel Acquisition

Key Takeaways Alkermes will acquire Avadel for up to $20 per share in a cash deal valued at $2.1 billion.The acquisition will grant Alkermes access to Lumryz, a fast-growing therapy for narcolepsy.The deal supports Alkermes' orexin program and entry into the high-growth sleep medicine market.Alkermes plc (ALKS) announced that it has entered into a definitive agreement to acquire Ireland-based Avadel Pharmaceuticals (AVDL) in a deal valued at up to $20.00 per share in cash, representing a total transaction v ...