Lundbeck has said it won’t raise its offer to buy Avadel Pharma any further, clearing the way for the sleep disorder specialist to complete a merger with Alkermes. In a statement, Denmark-based Lundbeck said it had carried out a “comprehensive assessment” of the bids on the table for Avadel and concluded that “increasing the purchase price […] would not meet its strategic or financial criteria for value creation.” It added: “Lundbeck’s disciplined approach requires that any acquisition delivers a compelling benefit, and the evolving parameters of this opportunity no longer supported that threshold.”
Read the full article: Lundbeck Bows Out of Bidding War for Avadel //
Source: https://pharmaphorum.com/news/lundbeck-bows-out-bidding-war-avadel