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Avadel Pharmaceuticals plc is a biopharmaceutical company headquartered in Dublin, Ireland, with operations in the United States. The company specializes in developing and commercializing innovative medicines for chronic conditions. Its primary product is LUMRYZ, an extended-release formulation of sodium oxybate, designed for the treatment of cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy.
- LUMRYZ - Provides a once-at-bedtime treatment for cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy. Approved by the FDA in May 2023, it is the company's sole commercialized product and benefits from Orphan Drug Exclusivity until May 2030.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Gregory J. Divis ExecutiveBoard | Chief Executive Officer and Director | None | Gregory J. Divis joined Avadel in January 2017, became COO in March 2018, and CEO in June 2019. He has over 25 years of pharmaceutical industry experience. | View Report → |
Jerad G. Seurer Executive | General Counsel and Corporate Secretary | None | Jerad G. Seurer joined Avadel in October 2017 and became General Counsel in September 2020. | |
Richard J. Kim Executive | Chief Commercial Officer | None | Richard J. Kim joined Avadel in February 2021, overseeing commercial strategy and execution. | |
Thomas S. McHugh Executive | Chief Financial Officer | None | Thomas S. McHugh has been CFO since December 2019, overseeing financial operations and compliance. | |
Geoffrey M. Glass Board | Chair of the Board of Directors | CEO of Kiniciti, LLC; Chairman of Ncardia and Abzena; Operating Partner at LongueVue Capital | Geoffrey M. Glass joined the Board in July 2018 and became Chair in December 2018. He has extensive management and financial expertise. | |
Linda S. Palczuk Board | Director | None | Linda S. Palczuk has been a director since July 2018, with extensive pharmaceutical management experience. | |
Mark A. McCamish, M.D., Ph.D. Board | Director | CEO of IconOVir Bio, Inc.; Board Member at Rafael Holdings, Inc. and Shasqi Pharma, Inc. | Dr. McCamish has been a director since December 2019, with over 30 years of experience in life sciences. | |
Naseem S. Amin, M.D. Board | Director | CEO of Orphalan SA; Chairman of Arix Bioscience plc; Advisory Board Member at Imperial College; Chairman of OPEN-London | Dr. Amin joined the Board in May 2024, bringing 30 years of industry experience. | |
Peter J. Thornton Board | Director | President and CFO of Envetec Sustainable Technologies Limited; Non-Executive Director of Oculer Limited | Peter J. Thornton has been a director since June 2017, with financial expertise and corporate governance experience. |
- With the shift towards new to oxybate patients leading to lower persistency rates and potential impacts on net patient adds, how do you plan to address this challenge and improve persistency among these patients?
- Given the anticipated seasonality impacts and higher gross-to-net deductions in Q4, how might these factors affect your financial performance, and what strategies are in place to mitigate them?
- Considering the ongoing patent litigation with Jazz Pharmaceuticals and the potential financial implications of royalty adjustments, how are you preparing for these outcomes, and can you provide an update on the status of post-trial motions and royalty rate discussions?
- As competitors continue to grow their patient base in the narcolepsy setting and with the potential entry of orexin agonists, how do you plan to maintain and strengthen LUMRYZ's market position, particularly among narcolepsy type 2 patients?
- Despite consistent patient growth, you mentioned that new to oxybate patients require more support due to lower persistency; what specific investments and strategies are you implementing to enhance patient support and ensure long-term adherence?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Caremark LLC | Specialty Pharmacy | All | 53% of 2024 AR ($18.07M) , 44% of 2024 revenue ($74.41M) |
Accredo Health Group, Inc. | Specialty Pharmacy | All | 25% of 2024 AR ($8.52M) , 37% of 2024 revenue ($62.57M) |
Optum Frontier Therapies LLC | Specialty Pharmacy | All | 22% of 2024 AR ($7.50M) , 19% of 2024 revenue ($32.13M) |
Recent press releases and 8-K filings for AVDL.
- Avadel Pharmaceuticals presented its update at the Needham Virtual Healthcare Conference on April 8, 2025, highlighting improved patient demand metrics for LUMRYZ compared to Q4 2024.
- The company reported that its REVITALYZ Phase 3 trial for LUMRYZ in Idiopathic Hypersomnia is on track to complete enrollment in the second half of 2025.
- Avadel also noted that it has initiated four patent infringement lawsuits against Jazz Pharmaceuticals and anticipates generating sustainable positive cash flow in 2025.
- LUMRYZ Launch and Clinical Value: The call focused on the commercial progress of LUMRYZ, Avadel’s once-at-bedtime oxybate therapy for narcolepsy, achieving rapid market adoption with over 2,500 net new patients within the first 18 months since approval.
- Expanded Commercial Efforts: The company detailed strategic investments including an increased sales force, enhanced field and patient support teams, and direct-to-patient initiatives aimed at driving quarter-over-quarter revenue growth with a forecast of approximately 50% revenue growth in 2025 vs. 2024.
- Patient Mix Optimization: Emphasis was placed on balancing the mix between switch patients (from first-generation oxybates) and new-to-oxybate patients to improve patient persistency and treatment outcomes, with recent trends showing around 60% new patients in the latter half of 2024.
- Litigation and Future Indications: The executives addressed ongoing legal proceedings regarding the idiopathic hypersomnia injunction, expecting a decision in Q2, while affirming plans to expand LUMRYZ’s indications through new clinical studies and FDA submissions.