Avadel shareholders approve Alkermes acquisition

Avadel Pharmaceuticals plc (NASDAQ: AVDL) shareholders approved the proposed acquisition by Alkermes plc at shareholder meetings held January 12, 2026, according to a company statement.

At the scheme meeting, shareholders approved the scheme of arrangement with 97.41% of votes cast in favor, representing 61.86 million shares, while 2.59% voted against. The proposal required approval by a majority in number of shareholders and at least 75% of the value of shares voted.

At the extraordinary general meeting, shareholders approved three proposals related to the transaction. The scheme approval proposal received 96.53% support with 62.44 million shares voted in favor. Shareholders also approved amendments to the company's articles of association with 95.85% support and executive compensation arrangements with 86.37% support.

The voting results were based on shares outstanding as of November 25, 2025, which served as the record date for the meetings. A total of 98.15 million Avadel shares were outstanding and entitled to vote.

The transaction was previously announced in October 2025 under a scheme of arrangement pursuant to Irish corporate law. The acquisition still requires approval from the Irish High Court and satisfaction of other closing conditions before completion.

Avadel is a Dublin-based biopharmaceutical company focused on sleep disorders, with its commercial product LUMRYZ approved for treating narcolepsy symptoms in patients seven years and older.

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