- Company Reports Third Quarter Revenues of $265.0 Million, GAAP Net Loss per Share of
$0.00 and Basic and Diluted Non-GAAP
Earnings per Share of $0.26 -
- ARISTADA® Net Sales of $62.4 Million Reflect 16% Year-Over-Year Growth
-
- VIVITROL® Net Sales Increased 12%
Sequentially to $80.3 Million
-
DUBLIN, Oct. 29, 2020 /PRNewswire/ -- Alkermes plc
(Nasdaq: ALKS) today reported financial results for the third
quarter of 2020 and provided updated financial expectations for
full-year 2020.
"Over the past several months, we achieved a number of important
milestones in our development programs against the backdrop of
strong commercial execution and disciplined management of our
expenses. The positive outcome of the ALKS 3831 FDA Advisory
Committee meeting and the presentation of accumulating data for
ALKS 4230, including monotherapy responses observed in melanoma,
were significant achievements that underscore the potential value
of these investigational medicines," said Richard Pops, Chief
Executive Officer of Alkermes. "As we look ahead, we will
continue to focus on our strategic imperatives: commercial
execution, including preparations for the potential launch of ALKS
3831, aggressive development of our pipeline candidates, and
efficient management of our operating cost structure, as we
position the company for long-term value creation."
Quarter Ended Sept. 30, 2020
Financial Highlights
- Total revenues for the quarter were $265.0 million, compared to $255.2 million for the same period in the prior
year.
- Net loss according to generally accepted accounting principles
in the U.S. (GAAP) was $0.1 million
for the quarter, or a GAAP net loss per share of $0.00. This compared to GAAP net loss of
$52.9 million, or a GAAP net loss per
share of $0.34, for the same period
in the prior year.
- Non-GAAP net income was $41.5
million for the quarter, or a non-GAAP basic and diluted
earnings per share of $0.26. This
compared to non-GAAP net loss of $7.0
million, or a non-GAAP basic and diluted loss per share of
$0.04, for the same period in the
prior year.
Quarter Ended Sept. 30, 2020
Financial Results
Revenues
- Net sales of proprietary products were $142.7 million, compared to $138.8 million for the same period in the prior
year.
-
- Net sales of VIVITROL were $80.3
million, compared to $85.2
million for the same period in the prior year, representing
a decrease of 6%, due primarily to COVID-19 pandemic-related
disruptions. Sequentially, net sales of VIVITROL increased 12%,
driven by increased demand during the quarter.
- Net sales of ARISTADAi were $62.4 million, compared to $53.6 million for the same period in the prior
year, representing an increase of 16%, driven primarily by
continued growth of the ARISTADA provider base and growth of the
ARISTADA two-month dose.
- Manufacturing and royalty revenues were $120.4 million, compared to $103.8 million for the same period in the prior
year.
-
- Manufacturing and royalty revenues from RISPERDAL
CONSTA®, INVEGA SUSTENNA®/XEPLION®
and INVEGA TRINZA®/TREVICTA® were
$87.9 million, compared to
$76.7 million for the same period in
the prior year, primarily driven by an increase in royalty revenue
from INVEGA SUSTENNA and the timing of manufacturing shipments of
RISPERDAL CONSTA.
Costs and Expenses
- Total operating expenses were $275.7
million, compared to $308.9
million for the same period in the prior year. This decrease
reflects the impact of the restructuring implemented in 2019 and
expense management measures in 2020.
-
- Research and Development (R&D) expenses were $95.0 million, compared to $107.7 million for the same period in the prior
year.
- Selling, General and Administrative (SG&A) expenses were
$127.7 million, compared to
$148.7 million for the same period in
the prior year.
Balance Sheet
- At Sept. 30, 2020, Alkermes
recorded cash, cash equivalents and total investments of
$597.2 million, compared to
$539.6 million at June 30, 2020, driven by the company's operating
results and changes in working capital. The company's total debt
outstanding as of Sept. 30, 2020 was
$275.5 million under its term loan,
which matures in March 2023.
"Our third quarter results reflect strong commercial execution,
with the sequential growth of both VIVITROL and ARISTADA net sales
within a complex and dynamic COVID-19 market environment. Today, we
are pleased to be raising our financial guidance for 2020 to
reflect this solid performance. Importantly, expectations for 2020
non-GAAP net income are back in line with the expectations provided
in February prior to the impact of COVID-19, primarily due to
disciplined management of our expenses," commented James Frates, Chief Financial Officer of
Alkermes. "As we approach the end of 2020, we believe we are
well-positioned to execute on our strategic imperatives to drive
long-term profitability and growth."
Financial Expectations for 2020
The following
financial expectations for 2020 are based on recent trends and
assume that treatment provider practices and patient access to the
company's commercial products continue to normalize. New
COVID-19-related restrictions or a resurgence of COVID-19 could
impact the company's ability to meet these expectations. All line
items are according to GAAP, except as otherwise noted.
In
millions (except per share
amounts)
|
|
Current 2020
Expectation
(Provided
10/29/20)
|
Previous
Expectation (Provided 7/29/20)
|
|
|
|
|
Total
Revenue
|
|
$1,010 –
$1,035
|
$965 –
$1,005
|
VIVITROL Net
Sales
|
|
$305 –
$315
|
$270 –
$300
|
ARISTADA Net
Sales
|
|
$230 –
$240
|
$220 –
$235
|
Cost of Goods
Sold
|
|
$180 –
$190
|
$180 –
$190
|
R&D
Expenses
|
|
$375 –
$390
|
$370 –
$395
|
SG&A
Expenses
|
|
$530 –
$545
|
$525 –
$550
|
Amortization of
Intangible Assets
|
|
~$40
|
~$40
|
Other Income,
Net
|
|
~$30
|
$10 – $15
|
Income Tax
Expense
|
|
$10 – $15
|
$10 – $15
|
GAAP Net
Loss
|
|
($95) –
($115)
|
($145) –
($175)
|
GAAP Net Loss per
Share
|
|
($0.60) –
($0.72)
|
($0.91) –
($1.10)
|
Non-GAAP Net
Income
|
|
$50 – $70
|
$0 – $30
|
Non-GAAP Diluted
EPS
|
|
$0.31 –
$0.43
|
$0.00 –
$0.19
|
Capital
Expenditures
|
|
~$35
|
~$35
|
Recent Events
- Psychiatry portfolio
-
- In October 2020, announced
positive vote outcomes from the joint meeting of the
Psychopharmacologic Drugs Advisory Committee and the Drug Safety
and Risk Management Advisory Committee, appointed by the U.S. Food
and Drug Administration (FDA), on questions relating to ALKS 3831
for the treatment of adults with schizophrenia and for the
treatment of adults with bipolar I disorder. The joint advisory
committee's recommendations, while not binding, will be considered
by the FDA in its review of the ALKS 3831 New Drug Application
(NDA). The Prescription Drug User Fee Act (PDUFA) target action
date for the ALKS 3831 NDA is Nov. 15,
2020.
- In September 2020, presented new
real-world outcomes research and clinical data related to Alkermes'
psychiatry portfolio at the Psych Congress 2020 Virtual Experience,
including new outcomes research that analyzed treatment challenges
of second-generation antipsychotics, such as weight gain and
treatment interruptions, for patients living with schizophrenia or
bipolar I disorder.
- In August 2020, announced the
publication in the peer-reviewed American Journal of
Psychiatry of results from the phase 3 ENLIGHTEN-2 clinical
trial of ALKS 3831. ENLIGHTEN-2 was a six-month study evaluating
the weight gain profile of ALKS 3831 compared to olanzapine in 561
patients with stable schizophrenia. Positive topline data from the
ENLIGHTEN-2 study were first reported in November 2018.
- ALKS 4230
-
- In September 2020, presented new
clinical data updates from ARTISTRY-1, an ongoing phase 1/2 study
evaluating Alkermes' investigational engineered interleukin-2
variant immunotherapy, ALKS 4230, administered intravenously as
monotherapy and in combination with the PD-1 inhibitor
pembrolizumab in patients with refractory solid tumors, at the 2020
European Society for Medical Oncology (ESMO) Virtual Congress. The
company also announced the expansion of the ARTISTRY-1 monotherapy
melanoma cohort based on the achievement of protocol-defined
efficacy response criteria.
- In August 2020, announced the
initiation of ARTISTRY-3, a phase 2 study evaluating the clinical
and immunologic effects of ALKS 4230 monotherapy administered
intravenously on the tumor microenvironment in a variety of
advanced, malignant solid tumors.
Conference Call
Alkermes will host a conference call
and webcast presentation with accompanying slides at 8:00 a.m. ET (12:00 p.m.
GMT) on Thursday, Oct. 29,
2020, to discuss these financial results, financial
expectations, and provide an update on the company. The webcast may
be accessed on the Investors section of Alkermes' website at
www.alkermes.com. The conference call may be accessed by dialing +1
877 407 2988 for U.S. callers and +1 201 389 0923 for international
callers. In addition, a replay of the conference call will be
available from 11:00 a.m. ET
(3:00 p.m. GMT) on Thursday, Oct. 29, 2020, through Thursday, Nov. 5, 2020, and may be accessed by
visiting Alkermes' website or by dialing +1 877 660 6853 for
U.S. callers and +1 201 612 7415 for international callers. The
replay conference ID is 13712082.
About Alkermes plc
Alkermes plc is a fully integrated,
global biopharmaceutical company developing innovative medicines in
the fields of neuroscience and oncology. The company has a
portfolio of proprietary commercial products focused on addiction
and schizophrenia, and a pipeline of product candidates in
development for schizophrenia, bipolar I disorder,
neurodegenerative disorders and cancer. Headquartered in
Dublin, Ireland, Alkermes plc has
an R&D center in Waltham,
Massachusetts; a research and manufacturing facility in
Athlone, Ireland; and a
manufacturing facility in Wilmington,
Ohio. For more information, please visit
Alkermes' website at
www.alkermes.com.
Non-GAAP Financial Measures
This press release
includes information about certain financial measures that are not
prepared in accordance with GAAP, including non-GAAP net income
(loss) and non-GAAP basic and diluted earnings (loss) per share.
These non-GAAP measures are not based on any standardized
methodology prescribed by GAAP and are not necessarily comparable
to similar measures presented by other companies.
Non-GAAP net income (loss) adjusts for one-time and non-cash
charges by excluding from GAAP results: share-based compensation
expense; amortization; depreciation; non-cash net interest expense;
changes in the fair value of the contingent consideration; certain
other one-time or non-cash items; and the income tax effect of
these reconciling items.
The company's management and the Board utilize these non-GAAP
financial measures to evaluate the company's performance. The
company provides these non-GAAP measures of the company's
performance to investors because management believes that these
non-GAAP financial measures, when viewed with the company's results
under GAAP and the accompanying reconciliations, are useful in
identifying underlying trends in ongoing operations. However,
non-GAAP net income (loss) and non-GAAP basic and diluted earnings
(loss) per share are not measures of financial performance under
GAAP and, accordingly, should not be considered as alternatives to
GAAP measures as indicators of operating performance. Further,
non-GAAP net income (loss) and non-GAAP basic and diluted earnings
(loss) per share should not be considered measures of the company's
liquidity.
A reconciliation of GAAP to non-GAAP financial measures has been
provided in the tables included in this press release.
Note Regarding Forward-Looking Statements
Certain
statements set forth in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended, including,
but not limited to, statements concerning: the company's
expectations concerning future financial and operating performance,
business plans or prospects, including the anticipated ongoing
impacts of COVID-19 on the company's business and financial
performance, the company's assumptions with respect to continued
normalization of patient and healthcare provider practices, and the
company's ability to drive long-term value creation and
profitability; the potential therapeutic and commercial value of
the company's marketed and development products; the company's
expectations concerning future development activities for the
company's development candidates; the company's expectations
regarding the FDA's review of the ALKS 3831 NDA,
including the FDA's PDUFA target action date for the
NDA; and expectations concerning the company's commercial
activities, including the potential launch of ALKS 3831. The
company cautions that forward-looking statements are inherently
uncertain. The forward-looking statements are neither promises nor
guarantees and they are necessarily subject to a high degree of
uncertainty and risk. Actual performance and results may differ
materially from those expressed or implied in the forward-looking
statements due to various risks and uncertainties. These risks and
uncertainties include, among others: the impacts of the ongoing
COVID-19 pandemic and continued efforts to mitigate its spread on
the company's business, results of operations or financial
condition, including: impacts on the vendors or distribution
channels in its supply chain, and the company's ability to continue
to manufacture its products; impacts on its ability to continue its
discovery activities; impacts on the conduct of its clinical
trials, including with respect to enrollment rates, availability of
investigators and clinical trial sites and monitoring of data;
impacts on healthcare systems that serve people living with opioid
dependence, alcohol dependence and schizophrenia and on patient and
healthcare provider access to the company's medicines; impacts on
the regulatory agencies with which the company interacts in the
development, review, approval and commercialization of its
medicines; impacts on reimbursement for the company's products,
including its Medicaid rebate liability, and for services related
to the use of its products; and impacts on the U.S., Irish and/or
global economies more broadly; the unfavorable outcome of
litigation, including so-called "Paragraph IV" litigation and
other patent litigation, related to any of the company's products
or products using the company's proprietary technologies, which may
lead to competition from generic drug manufacturers; clinical
development activities may not be completed on time or at all; the
results of the company's clinical development activities may not be
positive, or predictive of real-world results or of results in
subsequent clinical trials; regulatory submissions may not occur or
be submitted in a timely manner; the FDA or regulatory authorities
outside the U.S. may make adverse decisions regarding the company's
products, such as decisions not to approve the company's NDAs,
including the NDA for ALKS 3831; data from clinical trials may be
interpreted by the FDA in different ways than the company or an
advisory committee interprets it; the FDA may not agree with the
company's regulatory approval strategies or components of its ALKS
3831 NDA or other regulatory filings, including the company's
clinical trial designs, conduct and methodologies, manufacturing
processes and facilities, and the adequacy of the data and other
information included in its filings to meet the FDA's requirements
for approval, including the risk/benefit profile of the company's
product candidates; the company and its licensees may not be able
to continue to successfully commercialize their products; there may
be a reduction in payment rate or reimbursement for the company's
products or an increase in the company's financial obligations to
governmental payers; the company's products may prove difficult to
manufacture, be precluded from commercialization by the proprietary
rights of third parties, or have unintended side effects, adverse
reactions or incidents of misuse; and those risks and
uncertainties described under the heading "Risk Factors" in the
company's Annual Report on Form 10-K for the year ended
Dec. 31, 2019, the company's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 and in subsequent filings made by
the company with the U.S. Securities and Exchange Commission
("SEC"), which are available on the SEC's website at www.sec.gov.
Existing and prospective investors are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. Except as required by law, the company
disclaims any intention or responsibility for updating or revising
any forward-looking statements contained in this press release.
Trademarks
VIVITROL® is a registered
trademark of Alkermes, Inc.; ARISTADA® and ARISTADA
INITIO® are registered trademarks of Alkermes Pharma
Ireland Limited; and RISPERDAL CONSTA®, INVEGA
SUSTENNA®, XEPLION®, INVEGA
TRINZA® and TREVICTA® are registered
trademarks of Johnson & Johnson.
(tables follow)
Alkermes plc and
Subsidiaries
|
Selected Financial
Information (Unaudited)
|
|
|
|
|
|
Condensed
Consolidated Statements of Operations - GAAP
|
|
Three Months
Ended
|
|
Three Months
Ended
|
(In thousands,
except per share data)
|
|
September 30, 2020
|
|
September 30, 2019
|
Revenues:
|
|
|
|
|
Product sales,
net
|
|
$
142,658
|
|
$
138,774
|
Manufacturing and
royalty revenues
|
|
120,351
|
|
103,783
|
Research and
development revenue
|
|
953
|
|
12,686
|
License
revenue
|
|
1,050
|
|
—
|
Total
Revenues
|
|
265,012
|
|
255,243
|
Expenses:
|
|
|
|
|
Cost of goods
manufactured and sold
|
|
43,129
|
|
42,319
|
Research and
development
|
|
94,980
|
|
107,671
|
Selling, general and
administrative
|
|
127,653
|
|
148,701
|
Amortization of
acquired intangible assets
|
|
9,917
|
|
10,173
|
Total
Expenses
|
|
275,679
|
|
308,864
|
Operating
Loss
|
|
(10,667)
|
|
(53,621)
|
Other Income
(Expense), net:
|
|
|
|
|
Interest
income
|
|
1,376
|
|
3,509
|
Interest
expense
|
|
(1,811)
|
|
(3,385)
|
Change in the fair
value of contingent consideration
|
|
3,926
|
|
1,300
|
Other income
(expense), net
|
|
9,368
|
|
(1,664)
|
Total Other Income
(Expense), net
|
|
12,859
|
|
(240)
|
Income (Loss) Before
Income Taxes
|
|
2,192
|
|
(53,861)
|
Provision (Benefit)
for Income Taxes
|
|
2,326
|
|
(983)
|
Net Loss —
GAAP
|
|
$
(134)
|
|
$
(52,878)
|
|
|
|
|
|
(Loss) Earnings
Per Share:
|
|
|
|
|
GAAP loss per share —
basic and diluted
|
|
$
(0.00)
|
|
$
(0.34)
|
Non-GAAP earnings
(loss) per share — basic and diluted
|
|
$
0.26
|
|
$
(0.04)
|
|
|
|
|
|
Weighted Average
Number of Ordinary Shares Outstanding:
|
|
|
|
|
Basic and diluted —
GAAP
|
|
159,062
|
|
157,199
|
Basic —
Non-GAAP
|
|
159,062
|
|
157,199
|
Diluted —
Non-GAAP
|
|
160,335
|
|
157,199
|
|
|
|
|
|
An itemized
reconciliation between net loss on a GAAP basis and non-GAAP net
income (loss) is as follows:
|
Net Loss —
GAAP
|
|
$
(134)
|
|
$
(52,878)
|
Adjustments:
|
|
|
|
|
Share-based
compensation expense
|
|
22,618
|
|
26,729
|
Depreciation
expense
|
|
10,663
|
|
10,173
|
Amortization
expense
|
|
9,917
|
|
10,173
|
Income tax effect
related to reconciling items
|
|
2,174
|
|
155
|
Non-cash net interest
expense
|
|
166
|
|
168
|
Change in the fair
value of contingent consideration
|
|
(3,926)
|
|
(1,300)
|
Change in the fair
value of warrants
|
|
—
|
|
(206)
|
Non-GAAP Net
Income (Loss)
|
|
$
41,478
|
|
$
(6,986)
|
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statements of Operations - GAAP
|
|
Nine Months
Ended
|
|
Nine Months
Ended
|
(In thousands,
except per share data)
|
|
September 30, 2020
|
|
September 30, 2019
|
Revenues:
|
|
|
|
|
Product sales,
net
|
|
$
402,799
|
|
$
374,890
|
Manufacturing and
royalty revenues
|
|
353,107
|
|
340,595
|
Research and
development revenue
|
|
1,805
|
|
41,732
|
License
Revenue
|
|
1,050
|
|
1,000
|
Total
Revenues
|
|
758,761
|
|
758,217
|
Expenses:
|
|
|
|
|
Cost of goods
manufactured and sold
|
|
135,394
|
|
133,903
|
Research and
development
|
|
282,481
|
|
314,676
|
Selling, general and
administrative
|
|
393,049
|
|
444,996
|
Amortization of
acquired intangible assets
|
|
29,535
|
|
30,187
|
Total
Expenses
|
|
840,459
|
|
923,762
|
Operating
Loss
|
|
(81,698)
|
|
(165,545)
|
Other Income
(Expense), net:
|
|
|
|
|
Interest
income
|
|
5,924
|
|
10,785
|
Interest
expense
|
|
(6,790)
|
|
(10,405)
|
Change in the
fair value of contingent consideration
|
|
16,626
|
|
(27,800)
|
Other income
(expense), net
|
|
11,047
|
|
(1,534)
|
Total Other Income
(Expense), net
|
|
26,807
|
|
(28,954)
|
Loss Before Income
Taxes
|
|
(54,891)
|
|
(194,499)
|
Provision (Benefit)
for Income Taxes
|
|
13,328
|
|
(3,233)
|
Net Loss —
GAAP
|
|
$
(68,219)
|
|
$
(191,266)
|
|
|
|
|
|
(Loss) Earnings
Per Share:
|
|
|
|
|
GAAP loss per share —
basic and diluted
|
|
$
(0.43)
|
|
$
(1.22)
|
Non-GAAP earnings
(loss) per share — basic and diluted
|
|
$
0.33
|
|
$
(0.12)
|
|
|
|
|
|
Weighted Average
Number of Ordinary Shares Outstanding:
|
|
|
|
|
Basic and diluted —
GAAP
|
|
158,685
|
|
156,845
|
Basic —
Non-GAAP
|
|
158,685
|
|
156,845
|
Diluted —
Non-GAAP
|
|
159,467
|
|
156,845
|
|
|
|
|
|
An itemized
reconciliation between net loss on a GAAP basis and non-GAAP net
income (loss) is as follows:
|
Net Loss —
GAAP
|
|
$
(68,219)
|
|
$
(191,266)
|
Adjustments:
|
|
|
|
|
Share-based
compensation expense
|
|
65,277
|
|
79,590
|
Depreciation
expense
|
|
31,991
|
|
29,715
|
Amortization
expense
|
|
29,535
|
|
30,187
|
Income tax effect
related to reconciling items
|
|
8,971
|
|
5,170
|
Non-cash net interest
expense
|
|
500
|
|
505
|
Change in the fair
value of contingent consideration
|
|
(16,626)
|
|
27,800
|
Acquisition of
IPR&D
|
|
674
|
|
—
|
Change in the fair
value of warrants
|
|
—
|
|
(907)
|
Non-GAAP Net
Income (Loss)
|
|
$
52,103
|
|
$
(19,206)
|
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Balance Sheets
|
|
September 30,
|
|
December
31,
|
(In
thousands)
|
|
2020
|
|
2019
|
Cash, cash
equivalents and total investments
|
|
$
597,156
|
|
$
614,370
|
Receivables
|
|
265,644
|
|
257,086
|
Contract
assets
|
|
14,395
|
|
8,386
|
Inventory
|
|
122,823
|
|
101,803
|
Prepaid expenses and
other current assets
|
|
52,697
|
|
59,716
|
Property, plant and
equipment, net
|
|
355,215
|
|
362,168
|
Intangible assets,
net and goodwill
|
|
213,981
|
|
243,516
|
Other
assets
|
|
254,909
|
|
158,358
|
Total
Assets
|
|
$
1,876,820
|
|
$
1,805,403
|
Long-term debt —
current portion
|
|
$
2,843
|
|
$
2,843
|
Other current
liabilities
|
|
375,308
|
|
388,269
|
Long-term
debt
|
|
272,663
|
|
274,295
|
Contract liabilities
— long-term
|
|
18,635
|
|
22,068
|
Other long-term
liabilities
|
|
123,013
|
|
32,486
|
Total shareholders'
equity
|
|
1,084,357
|
|
1,085,442
|
Total Liabilities
and Shareholders' Equity
|
|
$
1,876,820
|
|
$
1,805,403
|
|
|
|
|
|
Ordinary shares
outstanding (in thousands)
|
|
159,105
|
|
157,779
|
|
|
|
|
|
This selected
financial information should be read in conjunction with the
consolidated financial statements and notes thereto included in
Alkermes plc's Quarterly Report on Form 10-Q for the three and nine
months ended September 30, 2020, which the company intends to
file
in October 2020.
|
An itemized
reconciliation between projected loss per share on a GAAP basis and
projected earnings per share
on a non-GAAP basis is as follows:
|
(In millions,
except per share data)
|
|
Amount
|
|
Shares
|
|
(Loss)
Earnings
Per Share
|
Projected Net Loss —
GAAP
|
|
$
(105.0)
|
|
159
|
|
$
(0.66)
|
Adjustments:
|
|
|
|
|
|
|
Share-based compensation expense
|
|
92.5
|
|
|
|
|
Depreciation expense
|
|
42.5
|
|
|
|
|
Amortization expense
|
|
40.0
|
|
|
|
|
Income
tax effect related to reconciling items
|
|
6.5
|
|
|
|
|
Non-cash
net interest expense
|
|
1.0
|
|
|
|
|
Change
in the fair value of contingent consideration
|
|
(17.5)
|
|
|
|
|
Projected Net Income
— Non-GAAP
|
|
$
60.0
|
|
161
|
|
$
0.37
|
|
Projected GAAP and
non-GAAP measures reflect mid-points within ranges of estimated
guidance.
|
i The term "ARISTADA" as used in this press release
refers to ARISTADA and ARISTADA INITIO, unless the context
indicates otherwise.
Alkermes Contacts:
For Investors: Sandy Coombs +1 781
609 6377
For Media: Katie
Joyce +1 781 249 8927
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