Lundbeck pulls out of bidding for Avadel
Further to the announcement under Rule 2.7 of the Irish Takeover Rules by Avadel (Nasdaq: AVDL) and Alkermes (Nasdaq: ALKS) on November 19, 2025, Danish CNS specialist Lundbeck (LUND: CO) confirms that it does not intend to make another offer for Avadel.
Accordingly, Lundbeck will be bound by the restrictions set out in Rule 2.8 of the Irish Takeover Rules. Lundbeck reserves the right within the next 6 months to set aside this statement where so permitted under Rule 2.8 (including Rule 2.8(c)(ii)).
After a comprehensive assessment of the latest process dynamics, Lundbeck has concluded that increasing the purchase price set out in its non-binding proposal announced on November 14, 2025 would not meet its strategic or financial criteria for value creation. Lundbeck’s disciplined approach requires that any acquisition delivers a compelling benefit, and the evolving parameters of this opportunity no longer supported that threshold.
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