Alkermes to acquire Avadel for $2.1bn

Alkermes has agreed to acquire Avadel Pharmaceuticals for up to $20 per share in cash, valuing Avadel at $2.1bn. The acquisition expedites the entry of Alkermes into the sleep medicine sector. The transaction received approval from the board of directors of both companies and will conclude in the first quarter of 2026. It will add Avadel’s US Food and Drug Administration (FDA)-approved therapy, Lumryz (sodium oxybate), to Alkermes’ commercial portfolio. The therapy is used to treat cataplexy or excessi ...