Avadel Pharmaceuticals Issues Statement On Patent Litigation
- None.
- None.
Insights
The jury ruling in the patent lawsuit between Avadel Pharmaceuticals and Jazz Pharmaceuticals is a significant development with potential implications for both companies' market positioning and financial health. The mixed outcome, with Avadel winning on one patent but losing on another, suggests a nuanced legal landscape. From a legal perspective, the decision to appeal is a strategic move that could either mitigate or exacerbate the impact of the loss, depending on the appeal's outcome.
For stakeholders, the immediate concern would be the potential for injunctions or financial damages that could affect Avadel's bottom line and market share. However, the assurance that the commercial launch of LUMRYZ™ will continue indicates confidence in the drug's market viability despite the legal challenges. The legal process can be protracted and the costs associated with ongoing litigation or an appeal could influence Avadel's financials over time.
In the pharmaceutical industry, patent litigations can have a profound impact on a company's ability to market exclusive treatments, affecting revenue and competitive advantage. Avadel's position that the jury's decision will not affect the commercial launch of LUMRYZ™ is a bold statement that underscores the product's strategic importance to the company's portfolio.
Analyzing the competitive landscape, LUMRYZ™'s continued presence in the market could be crucial for Avadel in maintaining a foothold in the narcolepsy treatment space. The drug's potential to 'transform lives' is not only a clinical assertion but also a commercial one, indicating the expected value proposition to patients and healthcare providers. The outcome of this legal dispute will likely influence investor sentiment and could lead to volatility in Avadel’s stock price as the market reacts to each new development.
The financial implications of the jury ruling for Avadel are multifaceted. On one hand, the validation of one patent provides a degree of protection and could reassure investors of Avadel's intellectual property portfolio's strength. On the other hand, the loss regarding the additional patent raises concerns about potential royalty payments or a settlement that could strain Avadel's financial resources.
Investors should monitor the company's quarterly filings for any contingent liabilities or legal expense accruals that may arise from this case. The mention of an appeal process indicates that legal expenses will likely remain elevated, which could impact profit margins. The company's commitment to the commercial success of LUMRYZ™ suggests that they anticipate the revenue generated will offset these costs and not hinder their long-term financial strategy.
DUBLIN, Ireland, March 04, 2024 (GLOBE NEWSWIRE) -- Avadel Pharmaceuticals plc (Nasdaq: AVDL), today issued a statement in response to a jury ruling from the United States District Court for the District of Delaware (“Court”) in a patent suit brought by Jazz Pharmaceuticals Inc. regarding LUMRYZ™.
Avadel is pleased with the jury’s decision ruling in favor of Avadel with respect to one of the contested patents. As it relates to the jury’s decision against Avadel regarding the additional contested patent, the company is disappointed in the outcome. Avadel will vigorously defend its position with the pursuit of all options, including an appeal, to overturn the unfavorable aspect of the jury’s decision upon final entry of the decision by the Court.
Avadel does not expect the jury’s decision to impact the ongoing commercial launch or potential for LUMRYZ™ to transform the lives of people living with narcolepsy.
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 excessive daytime sleepiness (EDS) in adults 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 adults with narcolepsy:
- sudden onset of weak or paralyzed muscles (cataplexy)
- excessive daytime sleepiness (EDS)
It is not known if LUMRYZ is safe and effective in people less than 18 years of age.
Do not take LUMRYZ if you take 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 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 have or had depression or have tried to harm yourself. Call your doctor right away if you have symptoms of mental health problems or a change in weight or appetite.
- Sleepwalking. Sleepwalking can cause injuries. Call your doctor if you start sleepwalking.
Tell your doctor if you are on a salt-restricted diet or if you 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. 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, expectations regarding the outcome of the litigation involving Jazz Pharmaceuticals Inc.; Avadel’s intent to pursue options to overturn certain aspects of the jury’s decision; and the potential disruption or adverse effect on the launch efforts for LUMRYZ. 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 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:
Courtney Mogerley
Stern Investor Relations, Inc.
Courtney.Mogerley@sternir.com
(212) 698-8687
Media Contact:
Lesley Stanley
Real Chemistry
lestanley@realchemistry.com
(609) 273-3162
FAQ
What is the ticker symbol of Avadel Pharmaceuticals plc?
What was the jury ruling in the patent suit brought by Jazz Pharmaceuticals Inc. against Avadel regarding LUMRYZ™?
What is Avadel's response to the jury's decision?
How does Avadel plan to address the unfavorable aspect of the jury's decision?
Does Avadel expect the jury's decision to impact the commercial launch and potential of LUMRYZ™?
