AVADEL PHARMACEUTICALS PLC (NASDAQ:AVDL) Files An 8-K Costs Associated with Exit or Disposal Activities

On March 30, 2017, Avadel Pharmaceuticals plc (the “Company”)
issued a press release announcing a plan to reduce its
headcount in France by approximately 50 people. This reduction
is an effort to align the Company’s cost structure with its
ongoing and future planned projects. This action does not
affect the allocation of resources to its REST-ON Phase III
clinical trial or any other important pipeline initiatives.
Subject to French regulatory requirements, the Company expects
the reduction to be substantially completed by the end of July
2017 and to incur related employee severance, benefits and
other costs of approximately $2.5 to $4.0 million. Once fully
implemented, the Company anticipates annual costs savings of
approximately $3.5 to $4.0 million.

A copy of the Company’s March 30, 2017 press release is
attached hereto as Exhibit 99.1 and is incorporated by
reference herein.