Alkermes Response to Avadel Announcement

Core Viewpoint - Alkermes plc acknowledges the announcement by Avadel Pharmaceuticals plc regarding a potential acquisition offer from H. Lundbeck A/S for all issued and to be issued ordinary shares of Avadel [1][2]. Group 1: Transaction Agreement Details - The Transaction Agreement stipulates that Avadel cannot terminate the agreement to pursue a superior proposal unless the board determines that doing so is consistent with its fiduciary duties and that the Lundbeck offer qualifies as a superior proposal [3]. - Avadel must notify Alkermes in writing at least five business days prior to taking any action related to the Lundbeck offer and must engage in good faith discussions with Alkermes regarding any amendments to the Transaction Agreement [3]. Group 2: Future Announcements - Alkermes will make further announcements as appropriate regarding the situation and any developments related to the potential acquisition [4].