Simpson Thacher is representing JPMorgan Chase Bank, N.A. in connection with committed debt financing for Alkermes plc’s (“Alkermes”) proposed acquisition of Avadel Pharmaceuticals plc (“Avadel”). The total transaction consideration values Avadel at approximately $2.1 billion. The committed financing consists of a $1.2 billion bridge facility. The transaction is expected to close in the first quarter of 2026, subject to the satisfaction of certain closing conditions.
Alkermes is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. Alkermes has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of clinical and preclinical candidates in development for neurological disorders, including narcolepsy and idiopathic hypersomnia.
Avadel Pharmaceuticals plc is a biopharmaceutical company focused on transforming medicines to transform lives. Avadel's approach includes applying innovative solutions to the development of medications that address the challenges patients face with current treatment options. Avadel's commercial product, LUMRYZ™, was approved by the U.S. Food & Drug Administration (FDA) as the first and only once-at-bedtime oxybate for extended-release oral suspension for the treatment of cataplexy or excessive daytime sleepiness (EDS) in patients 7 years and older with narcolepsy.
The Simpson Thacher team includes Jennifer Albrecht, Alexandra Kaplan, Sophie Skinner, Roman Ibragimov, Aaron Gurley and Susan Murley (Banking and Credit); John Ericson, Erica Yoon, Jeryne Fish and Louise Choi (Capital Markets); Vanessa Burrows, Alison Peters and Jacob Madden (Healthcare/FDA); Malik Ladhani, Haley O’Connor and Avery Golombek (M&A); Courtney Welshimer, Corina Holland, Matthew Richardson and Margerite Blase (Intellectual Property); and Michael Mann (Tax).