Avadel Pharma gains after appeals court ruling in Lumryz case with Jazz Pharma

 Avadel Pharmaceuticals (NASDAQ:AVDL) rose 1.6% after an appeals court ruling in its dispute with Jazz Pharmaceuticals (NASDAQ:JAZZ) over narcolepsy drug Lumryz.

"We have considered the parties' remaining arguments and find them unpersuasive," a federal appeals court wrote in its opinion on Tuesday. "We reverse the injunction to the extent it enjoins Avadel from initiating new clinical trials for Lumryz and from offering OLE periods to current clinical trial participants. We vacate the injunction to the extent it enjoins Avadel from seeking FDA approval for new indications for Lumryz, and remand to the district court for reconsideration of that issue in light of this opinion."

The appeals court ruling comes after Jazz (NASDAQ:JAZZ) in late August won an order that blocked some sales of Lumryz.

https://www.msn.com/en-us/money/general/avadel-pharma-gains-after-appeals-court-ruling-in-lumryz-case-with-jazz-pharma/ar-AA1EgIox