11月14日， 都柏林，Avadel Pharmaceuticals plc（NASDAQ：AVDL）宣布已收到 H.Lundbeck A/S（"Lundbeck"，灵北制药）的主动收购要约，以每股普通股23.00美元的价格收 购Avadel，其中包括（i）收盘时每股普通股21.00美元的现金，以及（ii）不可转让的或有价值权 （CVR），使持有人有权获得（A）每股普通股1.00美元的潜在额外现金支付，前提是LUMRYZ™ 和valiloxybate在 2027年12月31日之前的日历年 美国的最终用途年净销售额总计至少为4.5亿美 元。以及（b）每股普通股1.00美元，前提是LUMRYZ™和valiloxybate在2030年12月30日之前的 任何日历年在美国的最终用途年净销售额总计至少达到7亿美元（"灵北提案"），该提案总价达 22.5亿美元。灵北提案除其他事项外，还需满足各种成交条件，包括Avadel股东批准和监管部门批 准。Avadel董事会在与其财务和法律顾问协商后，本着诚信 的原则确定，合理预期灵北提案将产 生Avadel与Alkermes （ NASDAQ： ALKS）现有交易协议中定义的"公 ...

Core Viewpoint - Avadel Pharmaceuticals has received an unsolicited acquisition proposal from H. Lundbeck A/S, offering up to $23.00 per ordinary share, which includes cash and contingent value rights, leading the Board to consider it a potential "Company Superior Proposal" compared to its existing agreement with Alkermes [3][5]. Summary by Sections Acquisition Proposal - Lundbeck's proposal includes $21.00 in cash per ordinary share at closing and contingent value rights that could provide an additional $2.00 per share based on sales milestones for LUMRYZ™ and valiloxybate [3]. - The proposal is contingent upon various closing conditions, including shareholder and regulatory approvals [3]. Existing Agreement with Alkermes - Avadel has a definitive transaction agreement with Alkermes, under which shareholders would receive up to $20.00 per ordinary share, consisting of $18.50 in cash and a contingent value right of $1.50 [4]. - The Board's determination regarding Lundbeck's proposal allows for discussions but does not permit Avadel to terminate its agreement with Alkermes [5]. Board's Position - The Board has not yet confirmed that Lundbeck's proposal constitutes a Company Superior Proposal under the existing agreement with Alkermes and has not changed its recommendation in support of the Alkermes acquisition [5][6]. - There is no assurance that discussions with Lundbeck will lead to a definitive agreement [6]. Financial Advisors - Morgan Stanley and Goldman Sachs are serving as financial advisors to Avadel in relation to the acquisition discussions [9][23].

Core Viewpoint - Monteverde & Associates PC is investigating Avadel Pharmaceuticals plc regarding its proposed sale to Alkermes plc, which includes a cash payment of $18.50 per share and a contingent value right of $1.50 per share, pending FDA approval of LUMRYZ™ by the end of 2028 [1]. Group 1: Company Overview - Monteverde & Associates PC is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report and has recovered millions for shareholders [1]. - The firm is headquartered in the Empire State Building, New York City, and specializes in class action securities litigation [2]. Group 2: Transaction Details - Avadel shareholders are set to receive $18.50 per share in the proposed transaction with Alkermes plc [1]. - Additionally, shareholders may receive a contingent payment of $1.50 per share, contingent upon the FDA's final approval of LUMRYZ™ for treating idiopathic hypersomnia by the end of 2028 [1].

Core Viewpoint - Halper Sadeh LLC is investigating the fairness of the proposed sale of Avadel Pharmaceuticals plc to Alkermes plc for Avadel shareholders [1] Transaction Details - The proposed transaction offers Avadel shareholders $18.50 per share [1] - Shareholders will also receive a non-transferable contingent value right that could provide an additional cash payment of $1.50 per share, contingent upon final FDA approval of LUMRYZ™ for the treatment of idiopathic conditions [1]

Core Viewpoint - Avadel Pharmaceuticals plc will host a conference call on August 7, 2025, to provide a corporate update and discuss its financial results for Q2 2025 [1]. Company Overview - Avadel Pharmaceuticals plc is a biopharmaceutical company focused on transforming medicines to improve patients' lives [3]. - The company’s commercial product, LUMRYZ™, is the first and only once-at-bedtime oxybate approved by the FDA for treating cataplexy or excessive daytime sleepiness in patients aged 7 and older with narcolepsy [3]. Event Details - The conference call will take place at 8:30 a.m. ET [1]. - A live audio webcast of the call can be accessed through the investor relations section of the company's website, and a replay will be available for 90 days [2]. - Participants are advised to register at least 10 minutes prior to the call [2].

Core Insights - Avadel Pharmaceuticals plc will participate in a fireside chat at the Jefferies Global Healthcare Conference on June 5, 2025, at 10:30 a.m. ET [1] - A live webcast and an archived recording of the fireside chat will be available on Avadel's Investor Relations website for 90 days post-conference [2] Company Overview - Avadel Pharmaceuticals plc is a biopharmaceutical company focused on transforming medicines to improve patient lives [3] - The company’s commercial product, LUMRYZ™, is the first and only once-at-bedtime oxybate approved by the FDA for treating cataplexy or excessive daytime sleepiness in patients aged 7 years and older with narcolepsy [3]

Core Insights - Avadel Pharmaceuticals plc is participating in a fireside chat at the H.C. Wainwright 3rd Annual BioConnect Investor Conference on May 20, 2025 [1] - A live webcast and archived recording of the chat will be available on Avadel's Investor Relations website for 90 days post-conference [2] Company Overview - Avadel Pharmaceuticals plc is a biopharmaceutical company focused on transforming medicines to improve patient lives [3] - The company’s commercial product, LUMRYZ™, is the first and only once-at-bedtime oxybate approved by the FDA for treating cataplexy or excessive daytime sleepiness in patients aged 7 and older with narcolepsy [3]

Core Insights - Avadel Pharmaceuticals reported a strong financial performance for the first quarter of 2025, with net revenue from LUMRYZ sales reaching $52.5 million, a 93% increase compared to the same period in 2024 [1][5][9] - The company has raised its 2025 guidance, expecting net product revenue between $255 million and $265 million, driven by an anticipated increase in patients using LUMRYZ [2][5] - A favorable ruling from the Federal Circuit allows Avadel to pursue FDA approval for LUMRYZ in idiopathic hypersomnia, expanding its market potential [1][5][2] Financial Performance - Net product revenue for the first quarter of 2025 was $52.5 million, up from $27.2 million in the first quarter of 2024, marking a 93% growth [5][9] - Total operating expenses decreased by 3% to $49.9 million in Q1 2025 from $51.7 million in Q1 2024 [9][10] - The net loss for the quarter was $4.9 million, or $0.05 per diluted share, significantly improved from a net loss of $27.3 million, or $0.30 per diluted share, in the same quarter of 2024 [11][36] Patient Metrics - As of March 31, 2025, there were 2,800 patients on LUMRYZ, reflecting a net increase of 300 patients since December 31, 2024, and a 100% year-over-year increase [1][5] - The company expects to have between 3,400 and 3,600 patients on LUMRYZ by the end of 2025 [2][5] Regulatory and Clinical Developments - The Federal Circuit's ruling allows Avadel to initiate new clinical trials and pursue FDA approval for LUMRYZ's use in idiopathic hypersomnia [1][5][2] - Enrollment in the pivotal Phase 3 REVITALYZ study for LUMRYZ in idiopathic hypersomnia is on track to complete by the end of 2025 [7][2] Corporate Strategy - Avadel has made investments to expand its customer-facing teams, enhancing support and engagement with patients and providers [2][5] - The company initiated four patent infringement lawsuits against Jazz Pharmaceuticals, alleging infringement related to Jazz's Xywav product [6]