GlobeNewswire·Feb 10, 2026, 4:05 PM ET

Avadel Pharmaceuticals Announces Outcome of the Court Sanction Hearing

The Irish High Court has sanctioned the scheme of arrangement without modification, allowing Alkermes plc to acquire all issued and to be issued ordinary share capital of Avadel Pharmaceuticals plc.
Completion of the transaction is subject to the delivery of the Court Order to the Registrar of Companies.
The Court Order is expected to be processed by February 11, 2026, with delivery to the Registrar scheduled for February 12, 2026.
The scheme is expected to take effect on February 12, 2026.
Trading of Avadel Shares on Nasdaq is expected to cease effective 8:00 p.m. (U.S. Eastern Time) on February 11, 2026.
Avadel is a biopharmaceutical company whose commercial product LUMRYZ™ is the first once-at-bedtime oxybate approved for treating cataplexy or excessive daytime sleepiness in patients 7 years and older with narcolepsy.
The offer period for the transaction commenced on October 22, 2025, under the Irish Takeover Rules.
Disclosures regarding interests in relevant securities must be made by persons holding 1% or more of Avadel securities within specified deadlines.
Forward-looking statements in the announcement are subject to risks including the ability to satisfy transaction conditions, potential delays, regulatory outcomes, and other uncertainties.
The announcement contains no profit forecasts, quantified financial benefit statements, or asset valuations.