Avadel Pharmaceuticals Announces Divestiture of Pediatric Business

Avadel Pharmaceuticals (NASDAQ:AVDL) announced that it has entered into an asset purchase agreement with Cerecor, whereby Cerecor will acquire the Avadel pediatric portfolio.

As quoted in the press release:

Mike Anderson, Avadel’s Chief Executive Officer commented, “We made significant progress developing our pediatric business over the last two years. The script growth and revenue numbers were up substantially in 2017, particularly for Karbinal ER. However, after strategically evaluating our business objectives, we have made the decision to focus our efforts on expanding our urology, sleep and hospital based products. Our pediatric products align with Cerecor’s objective to become a leading U.S. pediatric pharmaceutical company and with the addition of our sales team will expand their commercial footprint.”

Click here to read the full press release.