Avadel Pharmaceuticals

Avadel Pharmaceuticals plc

Company type	Public
Traded as	Nasdaq:  AVDL
Industry	Pharmaceutical industry
Founded	1990;35 years ago (1990) in Lyon, France
Headquarters	Dublin , Ireland
Key people	Gregory J. Divis (CEO), director) Thomas S. McHugh (CFO)
Products	Lumryz
Services	Sleep disorder treatment
Revenue	$ 150.2M (Dec31, 2016) [1]
Website	www.avadel.com

Avadel Pharmaceuticals, is an Irish specialty pharmaceutical company that focuses on sleep disorder medicines. Avadel markets products in the hospital and primary care spaces. The company is headquartered in Dublin, Ireland with operations in St. Louis, Missouri and Lyon, France. ^[2]

History

The company was founded as Flamel Technologies SA in Lyon, France in 1990. ^[3]

In March 2022, the company acquired Éclat Pharmaceuticals of St. Louis, Missouri. ^{[4] [5]}

On 8 February 2016, the company acquired FSC Holdings, LLC, which included its wholly owned subsidiaries FSC Pediatrics, Inc., FSC Therapeutics, LLC, and FSC Laboratories, Inc. ^[6]

On 3 January 2017, Flamel, Éclat, and FCS Pediatrics became Avadel Pharmaceuticals plc after the Company completed a cross-border merger from France to Ireland. ^[7]

In 2019, Mike Anderson, CEO of Avadel Pharmaceuticals resigned, and Gregory Divis, COO of the company was appointed as his temporary successor. Meanwhile, Craig Stapleton, chairman of the Dublin-headquartered Avadel, has also stepped down. That same year, the company filed for Chapter 11 bankruptcy. ^{[8] [9]}

In May 2023, Avadel Pharmaceuticals received FDA approval for Lumryz, an extended-release oral suspension of sodium oxybate. ^[10]

In 2025, a bidding war ensued between Irish Alkermes plc and Danish Lundbeck over the acquisition of Avadel. In October, Alkerms made an offer for up to $2.1 billion, which included $18.50 per share in cash plus $1.50 per share contingent on expanded approval of Lumryz by the end of 2028. Lundbeck then offered a competing bid with the same cash per share amount but with up to $2 per share tied to future sales milestones for Lumryz and valiloxybate, an experimental therapy. Alkermes then revised their offer to $21 per share in cash and the contingent $1.50 per share. In November 2025, Avadel's board accepted Alkermes's revised offer. The deal, which values the drugmaker at $2.37 billion, is scheduled to close in the first quarter of 2026. ^[11]

References

1. "Company Key Statistics".
2. "Investor Home". investors.avadel.com. Retrieved 26 June 2017.
3. "Presentations | Investors | Avadel Pharmaceuticals". investors.avadel.com. Retrieved 17 July 2017.
4. "About Us". eclatpharma.com. Retrieved 29 December 2014.
5. "Flamel Technologies Announces Acquisition of Éclat Pharmaceuticals". businesswire.com. 14 March 2012. Retrieved 29 December 2014.
6. "Flamel Technologies Acquires FSC Pediatrics". marketwired.com. 8 February 2016. Retrieved 7 March 2017.
7. "Flamel Technologies Completes Cross-Border Merger and Becomes Avadel Pharmaceuticals plc". globenewswire.com (Press release). 3 January 2017. Retrieved 7 March 2017.
8. "Avadel chief executive resigns suddenly". The Irish Times. 3 January 2019. Archived from the original on 3 January 2019. Retrieved 30 October 2020.
9. "Avadel Specialty Pharmaceuticals files for Chapter 11 bankruptcy". The Wall Street Journal. 7 February 2019. Retrieved 24 February 2023.
10. Brooks, Megan. "FDA OKs Once-Nightly Sodium Oxybate for Narcolepsy". Medscape. Retrieved 14 July 2023.
11. Choudhury, Kamal; Mahatole, Siddhi (19 November 2025). "Avadel board backs Alkermes' higher offer over Lundbeck proposal". Rueters . Retrieved 4 December 2025.

External links

• Official Website