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For Investors: Rebecca Peterson, (781) 609-6378
For Media: Jennifer Snyder, (781) 609-6166
Company Receives FDA Approval for VIVITROL® in Opioid Dependence
Company Adjusts Financial Expectations for Fiscal 2011 Based on BYDUREON
Complete Response Letter
|||Quarterly revenues of $49.2 million, driven by strong manufacturing and royalty revenues from RISPERDAL® CONSTA®. Worldwide sales of RISPERDAL CONSTA by Janssen, Division of Ortho-McNeil-Janssen Pharmaceuticals, Inc. and Janssen-Cilag (Janssen) were approximately $378 million, an increase of 7.1 percent year-over-year, and are based on product sales in more than 70 countries.|
|||GAAP net loss of $7.7 million and pro forma net loss of $0.5 million.|
|||Strong financial position, with cash and total investments of $273.6 million, after the early redemption of all remaining non-recourse RISPERDAL CONSTA secured 7% Notes during the quarter, leaving Alkermes debt-free.|
|||Positive results announced from a phase 1 study of ALKS 33 in combination with buprenorphine for the treatment of cocaine addiction. The company expects to initiate a phase 2a study in the first half of calendar 2011, which will be funded through a grant of up to $2.4 million from the National Institute on Drug Abuse (NIDA).|
|||Data from a two year study of RISPERDAL CONSTA, published in the journal Neuropsychopharmacology, showed that RISPERDAL CONSTA was associated with a significantly lower rate of relapse compared to a leading oral antipsychotic, SEROQUEL®.|
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The following information was filed by Alkermes Inc on Thursday, November 4, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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