Avadel Pharmaceuticals Appoints Kevin Springman as Vice President of Sales
Avadel Pharmaceuticals (Nasdaq: AVDL) has appointed Kevin Springman as Vice President of Sales. Springman brings over 25 years of sales, marketing, and market access leadership experience, including 22 years at AstraZeneca and leadership roles at Sobi and Albireo Pharma.
The appointment comes as Avadel continues to build momentum behind LUMRYZ, its FDA-approved treatment for narcolepsy. The company is implementing a comprehensive commercial strategy to increase demand for LUMRYZ, aiming to tap into its billion-dollar market potential. Additionally, Avadel is progressing with a Phase 3 trial in idiopathic hypersomnia (IH), positioning itself as a leader in sleep disorder treatments.
The company is also actively searching for a new commercial organization leader as part of its executive team strengthening efforts.
Avadel Pharmaceuticals (Nasdaq: AVDL) ha nominato Kevin Springman come Vice Presidente delle Vendite. Springman porta con sé oltre 25 anni di esperienza nella leadership di vendite, marketing e accesso al mercato, inclusi 22 anni in AstraZeneca e ruoli di leadership in Sobi e Albireo Pharma.
La nomina arriva mentre Avadel continua a costruire slancio attorno a LUMRYZ, il suo trattamento approvato dalla FDA per la narcolessia. L'azienda sta implementando una strategia commerciale completa per aumentare la domanda di LUMRYZ, puntando a sfruttare il suo potenziale di mercato da miliardi di dollari. Inoltre, Avadel sta progredendo con uno studio di Fase 3 in ipersomnia idiopatica (IH), posizionandosi come leader nei trattamenti per i disturbi del sonno.
L'azienda è anche attivamente alla ricerca di un nuovo leader per l'organizzazione commerciale come parte dei suoi sforzi per rafforzare il team esecutivo.
Avadel Pharmaceuticals (Nasdaq: AVDL) ha nombrado a Kevin Springman como Vicepresidente de Ventas. Springman aporta más de 25 años de experiencia en liderazgo de ventas, marketing y acceso al mercado, incluidos 22 años en AstraZeneca y roles de liderazgo en Sobi y Albireo Pharma.
El nombramiento se produce mientras Avadel continúa generando impulso detrás de LUMRYZ, su tratamiento aprobado por la FDA para la narcolepsia. La empresa está implementando una estrategia comercial integral para aumentar la demanda de LUMRYZ, con el objetivo de aprovechar su potencial de mercado de mil millones de dólares. Además, Avadel está avanzando con un ensayo de Fase 3 en hipersomnia idiopática (IH), posicionándose como un líder en tratamientos para trastornos del sueño.
La empresa también está buscando activamente un nuevo líder para la organización comercial como parte de sus esfuerzos para fortalecer el equipo ejecutivo.
Avadel Pharmaceuticals (Nasdaq: AVDL)는 Kevin Springman을 영업 부사장으로 임명했습니다. Springman은 AstraZeneca에서 22년을 포함하여 25년 이상의 영업, 마케팅 및 시장 접근 리더십 경험을 보유하고 있으며, Sobi와 Albireo Pharma에서도 리더십 역할을 수행했습니다.
이번 임명은 Avadel이 수면발작 치료제인 LUMRYZ에 대한 모멘텀을 계속 구축하는 가운데 이루어졌습니다. 이 회사는 LUMRYZ에 대한 수요를 증가시키기 위해 포괄적인 상업 전략을 구현하고 있으며, 수십억 달러 규모의 시장 잠재력을 활용할 계획입니다. 또한 Avadel은 특발성 과다수면증(IH)에 대한 3상 시험을 진행하고 있으며, 수면 장애 치료 분야의 선두주자로 자리매김하고 있습니다.
회사는 또한 경영진 팀 강화를 위한 일환으로 새로운 상업 조직 리더를 적극적으로 찾고 있습니다.
Avadel Pharmaceuticals (Nasdaq: AVDL) a nommé Kevin Springman au poste de Vice-Président des Ventes. Springman apporte plus de 25 ans d'expérience en leadership dans les ventes, le marketing et l'accès au marché, dont 22 ans chez AstraZeneca et des rôles de direction chez Sobi et Albireo Pharma.
Cette nomination intervient alors qu'Avadel continue de renforcer son élan autour de LUMRYZ, son traitement approuvé par la FDA pour la narcolepsie. L'entreprise met en œuvre une stratégie commerciale complète pour accroître la demande de LUMRYZ, visant à exploiter son potentiel de marché de plusieurs milliards de dollars. De plus, Avadel progresse avec un essai de Phase 3 sur l'hypersomnie idiopathique (IH), se positionnant comme un leader dans le traitement des troubles du sommeil.
L'entreprise recherche également activement un nouveau leader pour son organisation commerciale dans le cadre de ses efforts de renforcement de son équipe dirigeante.
Avadel Pharmaceuticals (Nasdaq: AVDL) hat Kevin Springman zum Vizepräsidenten für Vertrieb ernannt. Springman bringt über 25 Jahre Erfahrung in der Vertriebs-, Marketing- und Marktzugangführung mit, darunter 22 Jahre bei AstraZeneca sowie Führungspositionen bei Sobi und Albireo Pharma.
Die Ernennung erfolgt, während Avadel weiterhin Schwung hinter LUMRYZ, seiner von der FDA zugelassenen Behandlung für Narkolepsie, aufbaut. Das Unternehmen implementiert eine umfassende kommerzielle Strategie, um die Nachfrage nach LUMRYZ zu steigern und zielt darauf ab, das milliardenschwere Marktpotenzial auszuschöpfen. Darüber hinaus schreitet Avadel mit einer Phase-3-Studie zur idiopathischen Hypersomnie (IH) voran und positioniert sich als führend in der Behandlung von Schlafstörungen.
Das Unternehmen sucht auch aktiv nach einem neuen Leiter der kommerziellen Organisation im Rahmen seiner Bemühungen zur Stärkung des Führungsteams.
- Appointment of experienced sales executive with 25+ years in pharmaceutical sales and marketing
- Ongoing Phase 3 trial expansion into idiopathic hypersomnia market
- LUMRYZ has billion-dollar market potential in narcolepsy treatment
- Commercial leadership position still vacant
- Operating in competitive market space
DUBLIN, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Avadel Pharmaceuticals plc (Nasdaq: AVDL), a biopharmaceutical company focused on transforming medicines to transform lives, announced that Kevin Springman has joined the company as Vice President of Sales. Mr. Springman is an accomplished executive with experience leading sales, market access and commercial teams, and executing rare disease drug launches in competitive markets.
"We’re delighted to welcome Kevin to Avadel – he’s a great addition to our team with the deep experience to help us drive success at this important time," said Greg Divis, Chief Executive Officer of Avadel Pharmaceuticals. "Kevin’s expertise and proven track record in building and leading specialized sales teams will be invaluable as we continue building momentum behind the launch of LUMRYZ, our FDA-approved innovative treatment for narcolepsy.”
Avadel is executing a comprehensive commercial strategy to increase demand for LUMRYZ™, with the goal of enhancing the experience for both patients and providers and unlocking the billion-dollar market potential of LUMRYZ. Avadel’s commercial launch in narcolepsy and ongoing progress in its investigational, Phase 3 trial in idiopathic hypersomnia (IH) positions the company to solidify its leadership in the sleep space and transform care for patients with sleep disorders.
Mr. Springman brings more than 25 years of sales, marketing and market access leadership to Avadel. He started his sales career at AstraZeneca, where he spent 22 years, rising to become Franchise Head, Infectious Disease. Later, Mr. Springman was Vice President, Head of Immunology & Rare Disease Franchises at Sobi – North America. After that, he was President of the Americas at Albireo Pharma, where he helped build the company’s commercial infrastructure and led a specialized sales and market access team. Most recently, Mr. Springman was an independent consultant to rare disease and specialty pharma companies.
“I’m excited to join Avadel at such a pivotal moment in the launch of LUMRYZ,” said Mr. Springman. “Avadel has an exceptional opportunity with LUMRYZ, built on a strong foundation in sleep medicine. I look forward to optimizing our sales strategy and execution to drive LUMRYZ’s continued growth and market leadership while improving patients’ lives.”
Avadel is intent on further strengthening its executive team and is progressing its search for a new leader of its commercial organization.
About LUMRYZ™ (sodium oxybate) for extended-release oral suspension
LUMRYZ, is an extended-release sodium oxybate medication approved by the FDA on May 1, 2023, as the first and only once-at-bedtime treatment for cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy.
The FDA approval of LUMRYZ was supported by results from REST-ON, a randomized, double-blind, placebo-controlled, pivotal Phase 3 trial in adults with narcolepsy. LUMRYZ demonstrated statistically significant and clinically meaningful improvements in the three co-primary endpoints: EDS, clinicians’ overall assessment of patients’ functioning (CGI-I) and cataplexy attacks, for all three evaluated doses when compared to placebo.
With its approval, the FDA also granted seven years of Orphan Drug Exclusivity to LUMRYZ for the treatment of cataplexy or EDS in adults with narcolepsy due to a finding of clinical superiority of LUMRYZ relative to currently available oxybate treatments. In particular, the FDA found that LUMRYZ makes a major contribution to patient care over currently available, twice-nightly oxybate products by providing a once-nightly dosing regimen that avoids nocturnal arousal to take a second dose.
About Avadel Pharmaceuticals plc
Avadel Pharmaceuticals plc (Nasdaq: AVDL) is a biopharmaceutical company focused on transforming medicines to transform lives. Our 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 the treatment of cataplexy or EDS in patients 7 years of age and older with narcolepsy. For more information, please visit www.avadel.com.
IMPORTANT SAFETY INFORMATION
| WARNING: Taking LUMRYZ™ (sodium oxybate) with other central nervous system (CNS) depressants, such as medicines used to make you fall asleep, including opioid analgesics, benzodiazepines, sedating antidepressants, antipsychotics, sedating anti-epileptic medicines, general anesthetics, muscle relaxants, alcohol or street drugs, may cause serious medical problems, including trouble breathing (respiratory depression), low blood pressure (hypotension), changes in alertness (drowsiness), fainting (syncope) and death. The active ingredient of LUMRYZ (sodium oxybate) is a form of gamma hydroxybutyrate (GHB), a controlled substance. Abuse or misuse of illegal GHB alone or with other CNS depressants (drugs that cause changes in alertness or consciousness) have caused serious side effects. These effects include seizures, trouble breathing (respiratory depression), changes in alertness (drowsiness), coma and death. Call your doctor right away if you have any of these serious side effects. Because of these risks, LUMRYZ is available only by prescription and filled through certified pharmacies in the LUMRYZ REMS. You must be enrolled in the LUMRYZ REMS to receive LUMRYZ. Further information is available at www.LUMRYZREMS.com or by calling 1-877-453-1029. |
INDICATIONS
LUMRYZ (sodium oxybate) for extended-release oral suspension is a prescription medicine used to treat the following symptoms in patients 7 years of age and older with narcolepsy:
- sudden onset of weak or paralyzed muscles (cataplexy)
- excessive daytime sleepiness (EDS)
Do not take LUMRYZ if you take or your child takes other sleep medicines or sedatives (medicines that cause sleepiness), drink alcohol or have a rare problem called succinic semialdehyde dehydrogenase deficiency.
Keep LUMRYZ in a safe place to prevent abuse and misuse. Selling or giving away LUMRYZ may harm others and is against the law. Tell your doctor if you or your child have ever abused or been dependent on alcohol, prescription medicines or street drugs.
Anyone who takes LUMRYZ should not do anything that requires them to be fully awake or is dangerous, including driving a car, using heavy machinery or flying an airplane, for at least six (6) hours after taking LUMRYZ. Those activities should not be done until you know how LUMRYZ affects you.
Falling asleep quickly, including while standing or while getting up from the bed, has led to falls with injuries that have required some people to be hospitalized.
LUMRYZ can cause serious side effects, including the following:
- Breathing problems, including slower breathing, trouble breathing and/or short periods of not breathing while sleeping (e.g., sleep apnea). People who already have breathing or lung problems have a higher chance of having breathing problems when they take LUMRYZ.
- Mental health problems, including confusion, seeing or hearing things that are not real (hallucinations), unusual or disturbing thoughts (abnormal thinking), feeling anxious or upset, depression, thoughts of killing yourself or trying to kill yourself, increased tiredness, feelings of guilt or worthlessness and difficulty concentrating. Tell your doctor if you or your child have or had depression or have tried to harm yourself. Call your doctor right away if you or your child have symptoms of mental health problems or a change in weight or appetite.
- Sleepwalking. Sleepwalking can cause injuries. Call your doctor if you or your child start sleepwalking.
Tell your doctor if you or your child are on a salt-restricted diet or have high blood pressure, heart failure or kidney problems. LUMRYZ contains a lot of sodium (salt) and may not be right for you.
The most common side effects of LUMRYZ in adults include nausea, dizziness, bedwetting, headache and vomiting. Your side effects may increase when you take higher doses of LUMRYZ. The most common side effects in children include nausea, bedwetting, vomiting, headache, decreased weight, decreased appetite, dizziness, and sleepwalking. LUMRYZ can cause physical dependence and craving for the medicine when it is not taken as directed. These are not all the possible side effects of LUMRYZ.
For more information, ask your doctor or pharmacist. Call your doctor for medical advice about side effects.
You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch, or call 1-800-FDA-1088.
Please see full Prescribing Information, including BOXED Warning.
Cautionary Disclosure Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements relate to our future expectations, beliefs, plans, strategies, objectives, results, conditions, financial performance, prospects or other events. Such forward-looking statements include, but are not limited to, statements regarding our plans and strategies for LUMRYZ; expectations regarding the potential market opportunity for LUMRYZ; expectations regarding Avadel’s ability to seek and obtain FDA approval for, as well as, commercially launch LUMRYZ for indications beyond narcolepsy; and expectations regarding the anticipated contribution of new employees to our operations and progress. In some cases, forward-looking statements can be identified by the use of words such as “will,” “may,” “could,” “believe,” “expect,” “look forward,” “on track,” “guidance,” “anticipate,” “estimate,” “project,” “next steps” and similar expressions and the negatives thereof (if applicable).
The Company’s forward-looking statements are based on estimates and assumptions that are made within the bounds of our knowledge of our business and operations and that we consider reasonable. However, the Company’s business and operations are subject to significant risks, and, as a result, there can be no assurance that actual results and the results of the company’s business and operations will not differ materially from the results contemplated in such forward-looking statements. Factors that could cause actual results to differ from expectations in the Company’s forward-looking statements include final audit adjustments and other developments that may arise that would cause the Company’s expectations with respect to the estimate of revenue for the fourth quarter of 2024 and cash as of December 31, 2024 to differ, perhaps materially, from the financial results that will be reflected in the Company’s audited consolidated financial statements for the fiscal year ended December 31, 2024, and the risks and uncertainties described in the “Risk Factors” section of Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission (SEC) on February 29, 2024, and subsequent SEC filings.
Forward-looking statements speak only as of the date they are made and are not guarantees of future performance. Accordingly, you should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to publicly update or revise our forward-looking statements, except as required by law.
Investor Contact:
Austin Murtagh
Precision AQ
Austin.Murtagh@precisionaq.com
(212) 698-8696
Media Contact:
Lesley Stanley
Real Chemistry
lestanley@realchemistry.com
(609) 273-3162
FAQ
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