Exhibit 99.1

 

 

 

 

Alkermes Contacts:

 

 

For Investors:

Sandy Coombs     +1 781 609 6377

 

 

Eva Stroynowski  +1 781 609 6823

 

For Media: 

Jennifer Snyder     +1 781 609 6166

 

Alkermes Plc Reports Second Quarter 2018 Financial Results

 

— Second Quarter Revenues Increase to $304.6 Million, Driven by License Revenues and 24% Year-Over-Year Growth of Proprietary Product Net Sales 

—  Company Reports GAAP Net Loss per Share of $0.21 and Diluted Non-GAAP Earnings per Share of $0.29 

 Company Reiterates Financial Expectations for 2018 —

 

DUBLIN, Ireland, July 26, 2018 

 Alkermes plc  (Nasdaq: ALKS) today reported financial results for the second quarter of 2018.

 

“Our strong second quarter results were driven by the solid growth of our proprietary commercial products, the continued strength of our royalty and manufacturing business, as well as the receipt of a $50 million payment related to our collaboration with Biogen for BIIB098,” commented James Frates, Chief Financial Officer of Alkermes. “The business is performing as planned and today we are reiterating our financial expectations for 2018. As we head into a catalyst-rich second half of the year, we are well-positioned financially to drive value, grow our portfolio of commercial products and advance our late-stage pipeline.”

 

Quarter Ended June 30, 2018 Financial Highlights

•     Total revenues for the quarter were $304.6 million. This compared to $218.8 million for the same period in the prior year, representing an increase of 39%. Proprietary product net sales for VIVITROL® and ARISTADA® were $109.8 million for the quarter, reflecting a 24% increase compared to the same period in the prior year.

•     Net loss according to generally accepted accounting principles in the U.S. (GAAP) was $32.6 million for the quarter, or a basic and diluted GAAP net loss per share of $0.21. This compared to GAAP net loss of $43.0 million, or a basic and diluted GAAP net loss per share of $0.28, for the same period in the prior year.

•     Non-GAAP net income was $45.6 million for the quarter, or a non-GAAP basic and diluted earnings per share of $0.29. This compared to non-GAAP net income of $1.2 million, or non-GAAP basic and diluted earnings per share of $0.01, for the same period in the prior year.

 

“VIVITROL and ARISTADA continue to demonstrate solid growth and perform in-line with our expectations. Our proprietary commercial portfolio is a key growth driver for Alkermes, and we are confident about the prospects ahead for these important products,” stated Jim Robinson, President and Chief Operating Officer of Alkermes. “In particular, the launch of ARISTADA INITIO™ is an important opportunity to support continuity of care and address a critical unmet need for patients, as ARISTADA is now the first and only long-acting atypical antipsychotic that can be fully dosed on day one for up to two months. ARISTADA INITIO represents a key addition to the treatment paradigm for schizophrenia and provides a platform to further expand utilization of ARISTADA.”

 

Quarter Ended June 30, 2018 Financial Results

Revenues

•     Net sales of VIVITROL were $76.2 million, compared to $66.1 million for the same period in the prior year, representing an increase of approximately 15%.

•     Net sales of ARISTADA were $33.6 million, compared to $22.7 million for the same period in the prior year, representing an increase of approximately 48%. 


The following information was filed by Alkermes Plc. (ALKS) on Thursday, July 26, 2018 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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