Exhibit 99.1
Alkermes Contacts:
For Investors: Rebecca Peterson, (617) 583-6378
For Media: Jennifer Snyder, (617) 583-6166
Reports Fourth Consecutive Year of Positive Cash Flow from Operations —
Expects Increased Revenues from RISPERDAL® CONSTA®, Positive Cash Flow
from Operations with Increased Investment in Proprietary Pipeline in Fiscal 2010
Cambridge, MA, May 21, 2009
— Alkermes, Inc. (NASDAQ: ALKS) today reported financial results for its fiscal year ended March 31, 2009, and provided financial expectations for fiscal 2010.
Financial highlights:
  GAAP net income of $130.5 million for fiscal 2009.
  Fourth consecutive year of positive cash flow from operations. The business generated $34.6 million in cash from operations during fiscal 2009.
  Record manufacturing and royalty revenues from RISPERDAL® CONSTA® of $145.5 million. Worldwide sales of RISPERDAL CONSTA by Janssen, Division of Ortho-McNeil-Janssen Pharmaceuticals, Inc. and Janssen—Cilag (Janssen) were over $1.3 billion in fiscal 2009, a 12.6 percent increase over sales of RISPERDAL CONSTA in fiscal 2008, and are based on product sales in approximately 60 countries.
  Strong financial position, with cash and total investments of $404.5 million.
  Expected annual cost savings in the range of $10 to $15 million in fiscal 2011 and beyond, resulting from plans to move its corporate headquarters to Waltham, Massachusetts.
Other recent highlights:
  RISPERDAL CONSTA approved by the U.S. Food and Drug Administration (FDA) as both a monotherapy and adjunctive therapy in the maintenance treatment of bipolar I disorder.
  RISPERDAL CONSTA approved in Japan for the treatment of schizophrenia.

Page 1 of 8

The following information was filed by Alkermes Inc on Thursday, May 21, 2009 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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