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Alkermes plc is a fully integrated, global biopharmaceutical company that applies its scientific expertise and proprietary technologies to develop innovative medicines that improve patient outcomes. The company has a diversified portfolio of more than 20 commercial drug products and a substantial clinical pipeline of product candidates that address central nervous system (CNS) disorders such as addiction, schizophrenia and depression. Headquartered in Dublin, Ireland, Alkermes plc has an R&D center in Waltham, Massachusetts; a research and manufacturing facility in Athlone, Ireland; and manufacturing facilities in Gainesville, Georgia and Wilmington, Ohio. For more information, please visit Alkermes’ website at www.alkermes.com.

http://www.alkermes.com


Alkermes plc Reports Third Quarter 2017 Financial Results
— Third Quarter Total Revenues Increased 21% Year-Over-Year to $217.4 Million, GAAP Loss per Share of $0.24 and Non-GAAP Earnings per Share of $0.03 —

— Sales of Proprietary Products Increased 34% Year-Over-Year —

— Portfolio of CNS Medicines Continues to Progress to Support Goal of Providing Patient-Centered Treatment Options for Addiction and Serious Mental Illness —

— Company Updates Financial Expectations for 2017 —

DUBLIN--(BUSINESS WIRE)--Oct. 26, 2017-- Alkermes plc (NASDAQ: ALKS) today reported financial results for the third quarter of 2017.

“Our third quarter results reflect solid year-over-year topline growth of more than twenty percent and disciplined expense management. We continue to focus on executing on our business strategy to grow our commercial products and invest in the late-stage development programs that we expect will be the growth drivers for the future,” commented James Frates, Chief Financial Officer of Alkermes. “As we head into the final months of the year, today we are reiterating our guidance for non-GAAP results and improving guidance for GAAP net loss. These expectations reflect reduced revenues, largely due to VIVITROL® sales growth being slightly lower than expected in the third quarter, offset by lower cost forecasts.”

“VIVITROL and ARISTADA® both operate in markets where there remains significant unmet patient need. With new health and economic data being generated to support the long-term potential of these important medicines, we continue to progress VIVITROL and ARISTADA and work toward ensuring access for the patients that need these medicines,” said Richard Pops, Chief Executive Officer of Alkermes. “Looking ahead, 2018 will be a transformative year for Alkermes’ proprietary development pipeline, with key events across the development portfolio, highlighted by FDA review of the ALKS 5461 NDA, the phase 3 data readout for ALKS 3831, submission of the ALKS 8700 NDA and important phase 1 data for ALKS 4230.”

Quarter Ended Sept. 30, 2017 Highlights

Total revenues for the quarter were $217.4 million. This compared to $180.2 million for the same period in the prior year.
Net loss according to generally accepted accounting principles in the U.S. (GAAP) was $36.3 million, or a basic and diluted GAAP loss per share of $0.24, for the quarter. This compared to GAAP net loss of $62.7 million, or a basic and diluted GAAP loss per share of $0.41, for the same period in the prior year.
Non-GAAP net income was $4.2 million, or a non-GAAP basic and diluted earnings per share of $0.03. This compared to non-GAAP net loss of $14.1 million, or a non-GAAP basic and diluted loss per share of $0.09, for the same period in the prior year.




 
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