— Second Quarter Revenues of
$399.1 Million —
— Net Sales of Proprietary
Products Increased Approximately 16% Year-Over-Year —
— GAAP Net Income from
Continuing Operations of $94.7
Million and Diluted GAAP Earnings per Share from Continuing
Operations of $0.55 —
— Company Reiterates 2024
Financial Expectations —
DUBLIN, July 24, 2024 /PRNewswire/ -- Alkermes plc
(Nasdaq: ALKS) today reported financial results for the second
quarter of 2024.
"Our second quarter results reflect solid execution across our
business, delivering double-digit, year-over-year growth for our
proprietary commercial product portfolio and robust profitability.
We enter the second half of the year in a strong financial position
with clear operational priorities to drive the performance of our
commercial portfolio and advance our neuroscience development
pipeline, including the phase 2 program for ALKS 2680 in narcolepsy
type 1 and type 2," said Richard Pops, Chief Executive Officer of
Alkermes. "As a profitable, smid-cap biotech growth company with
multiple commercial products and a development pipeline with
significant value potential, we are executing our plan to become a
leader in the field of neuroscience."
Key Financial Highlights
Revenues
(In
millions)
|
Three Months
Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
2024
|
2023
|
|
2024
|
2023
|
Total
Revenues
|
$
|
399.1
|
$
|
617.4*
|
|
$
|
749.5
|
$
|
905.0*
|
Total Proprietary Net
Sales
|
$
|
269.3
|
$
|
231.5
|
|
$
|
502.8
|
$
|
446.2
|
VIVITROL®
|
$
|
111.9
|
$
|
102.1
|
|
$
|
209.5
|
$
|
198.7
|
ARISTADA®i
|
$
|
86.0
|
$
|
82.4
|
|
$
|
164.9
|
$
|
162.5
|
LYBALVI®
|
$
|
71.4
|
$
|
47.0
|
|
$
|
128.4
|
$
|
85.0
|
Profitability
(In
millions)
|
Three Months
Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
2024
|
2023
|
|
2024
|
2023
|
GAAP Net Income From
Continuing Operations
|
$
|
94.7
|
$
|
279.1
|
|
$
|
133.6
|
$
|
267.1
|
GAAP Net Loss From
Discontinued Operations
|
$
|
(3.3)
|
$
|
(42.0)
|
|
$
|
(5.4)
|
$
|
(71.8)
|
GAAP Net
Income
|
$
|
91.4
|
$
|
237.1*
|
|
$
|
128.2
|
$
|
195.2*
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Net Income
From Continuing Operations
|
$
|
123.4
|
$
|
134.3
|
|
$
|
199.6
|
$
|
164.4
|
Non-GAAP Net Loss
From Discontinued Operations
|
$
|
(3.3)
|
$
|
(40.0)
|
|
$
|
(5.4)
|
$
|
(67.7)
|
Non-GAAP Net
Income
|
$
|
120.1
|
$
|
94.3
|
|
$
|
194.2
|
$
|
96.7
|
|
|
|
|
|
|
|
|
|
|
EBITDA From Continuing
Operations
|
$
|
118.6
|
$
|
299.1
|
|
$
|
170.1
|
$
|
306.2
|
EBITDA From
Discontinued Operations
|
$
|
(3.9)
|
$
|
(41.4)
|
|
$
|
(6.4)
|
$
|
(77.4)
|
EBITDA
|
$
|
114.7
|
$
|
257.7*
|
|
$
|
163.7
|
$
|
228.9*
|
*As a result of the successful resolution of
the arbitration with Janssen Pharmaceutica N.V., the three
months ended June 30, 2023 included
approximately $245.5 million of back
royalties (and related interest) related to U.S. net sales of
long-acting INVEGA® products (consisting of $195.4 million for 2022 and $50.1 million for the first quarter of 2023) that
would ordinarily have been recognized in prior periods.
Revenue Highlights
LYBALVI
- Revenues for the quarter were $71.4
million.
- Revenues and total prescriptions for the quarter grew 52% and
44%, respectively, compared to the second quarter of 2023.
ARISTADAi
- Revenues for the quarter were $86.0
million.
- New to brand prescriptions for the quarter grew 6% sequentially
compared to the first quarter of 2024.
VIVITROL
- Revenues for the quarter were $111.9
million.
- Revenues for the quarter grew 10% compared to the second
quarter of 2023, driven by the alcohol dependence indication.
Manufacturing & Royalty Revenues
- Royalty revenues from INVEGA
SUSTENNA®/XEPLION®, INVEGA
TRINZA®/TREVICTA® and INVEGA
HAFYERA®/BYANNLI® for the quarter were
$78.7 million.
- VUMERITY® manufacturing and royalty revenues for the
quarter were $35.2 million.
Key Operating Expenses
Please see Note 1 below for details regarding discontinued
operations.
(In
millions)
|
Three Months
Ended
June 30,
|
Six Months Ended
June 30,
|
|
2024
|
2023
|
2024
|
2023
|
R&D Expense –
Continuing Operations
|
$
|
59.6
|
$
|
68.2
|
$
|
127.3
|
$
|
132.0
|
R&D Expense –
Discontinued Operations
|
$
|
3.9
|
$
|
32.6
|
$
|
6.4
|
$
|
62.4
|
|
|
|
|
|
|
SG&A Expense –
Continuing Operations
|
$
|
168.1
|
$
|
195.8
|
$
|
347.9
|
$
|
363.6
|
SG&A Expense –
Discontinued Operations
|
$
|
-
|
$
|
9.5
|
$
|
-
|
$
|
16.1
|
Balance Sheet
At June 30, 2024, the company
recorded cash, cash equivalents and total investments of
$962.5 million, compared to
$807.8 million at March 31, 2024. The company's total debt
outstanding as of June 30, 2024 was
$289.5 million.
Share Repurchase Program
During the second quarter of
2024, the company repurchased approximately 3.5 million of the
company's ordinary shares under the share repurchase program
authorized in February 2024, at a total purchase price of
$84.7 million. As of June 30, 2024, the company had $315.3 million (exclusive of any fees,
commissions or other expenses related to such repurchases)
remaining under the program.
Financial Expectations for 2024
Alkermes reiterates
its financial expectations for 2024, as set forth in its press
release dated Feb. 15, 2024.
Recent Events
- In April 2024, the company
announced positive topline results from the narcolepsy
type 2 and idiopathic hypersomnia cohorts in its phase 1b proof-of-concept study evaluating ALKS 2680,
the company's novel, investigational, oral orexin 2 receptor (OX2R)
agonist in development as a once-daily treatment for
narcolepsy.
- In April 2024, the company
announced initiation of its Vibrance-1 phase 2 study of ALKS 2680
in patients with narcolepsy type 1.
- In May 2024, the company
completed the sale of its development and manufacturing facility
in Athlone, Ireland to Novo
Nordisk. Alkermes received a cash payment for the facility and
certain related assets of approximately $91
million.
- In May and June 2024, the company
presented research related to its psychiatry franchise
products—LYBALVI (olanzapine and samidorphan) and ARISTADA
(aripiprazole lauroxil)—at several scientific conferences. The
conferences included: American Psychiatric Association (APA) Annual
Meeting, American Society of Clinical Psychopharmacology (ASCP)
Annual Meeting, and Psych Congress Elevate.
- In June 2024, the company
presented new research related to ALKS 2680 and narcolepsy,
including new data from the full narcolepsy type 1 cohort in its
phase 1b, proof-of-concept study
evaluating ALKS 2680, at SLEEP 2024, the 38th annual
meeting of the Associated Professional Sleep Societies (APSS).
Notes and Explanations
1. The company determined that upon the separation of its
oncology business, completed on Nov. 15,
2023, the oncology business met the criteria for
discontinued operations in accordance with Financial Accounting
Standards Board Accounting Standards Codification 205,
Discontinued Operations. Accordingly, the accompanying
selected financial information has been updated to present the
results of the oncology business as discontinued operations for the
three and six months ended June 30,
2023.
Conference Call
Alkermes will host a conference call
and webcast presentation with accompanying slides at 8:00 a.m. ET (1:00 p.m.
BST) on Wednesday, July 24,
2024, to discuss these financial results 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 may be accessed by visiting Alkermes'
website.
About Alkermes plc
Alkermes plc is a global
biopharmaceutical company that seeks to develop innovative
medicines in the field of neuroscience. The company has a portfolio
of proprietary commercial products for the treatment of alcohol
dependence, opioid dependence, schizophrenia and bipolar I
disorder, and a pipeline of clinical and preclinical candidates in
development for neurological disorders, including narcolepsy.
Headquartered in Ireland, Alkermes
also has a corporate office and research and development center in
Massachusetts and a manufacturing
facility in 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 generally accepted accounting
principles in the U.S. (GAAP), including non-GAAP net income
and EBITDA. 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 adjusts for certain one-time and non-cash
charges by excluding from GAAP results: share-based compensation
expense; amortization; depreciation; non-cash net interest expense;
change in the fair value of contingent consideration; certain other
one-time or non-cash items; and the income tax effect of these
reconciling items. EBITDA represents earnings before interest, tax,
depreciation and amortization; earnings include share-based
compensation expense.
The company's management and board of directors utilize these
non-GAAP financial measures to evaluate the company's performance.
The company provides these non-GAAP financial 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 and EBITDA 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 and EBITDA 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 its future financial and operating
performance, business plans or prospects, including profitability;
and the potential therapeutic and commercial value of ALKS 2680 and
the company's development pipeline. 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: whether the company is able to sustain
profitability; the unfavorable outcome of arbitration or
litigation, including so-called "Paragraph IV" litigation and
other patent litigation which may lead to competition from generic
drug manufacturers, or other disputes related to the company's
products or products using the company's proprietary technologies;
clinical development activities may not be completed on time or at
all; the results of the company's development activities may not be
positive, or predictive of final results from such activities,
results of future development activities or real-world results; the
U.S. Food and Drug Administration (FDA) or regulatory
authorities outside the U.S. may make adverse decisions
regarding the company's products; the company and its licensees may
not be able to continue to successfully commercialize their
products or support revenue growth from such 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
government 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, 2023 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.
VIVITROL® is a registered trademark of Alkermes,
Inc.; ARISTADA®, ARISTADA INITIO® and
LYBALVI® are registered trademarks of Alkermes Pharma
Ireland Limited, used by Alkermes, Inc. under
license; BYANNLI®, INVEGA®, INVEGA
HAFYERA®, INVEGA SUSTENNA®, INVEGA
TRINZA®, TREVICTA® and XEPLION®
are registered trademarks of Johnson & Johnson or its
affiliated companies; and VUMERITY® is a registered
trademark of Biogen MA Inc., used by Alkermes under license.
i The term "ARISTADA" as used in this press release
refers to ARISTADA and ARISTADA INITIO®, unless the
context indicates otherwise.
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)
|
|
June 30,
2024
|
|
June 30,
2023
|
Revenues:
|
|
|
|
|
Product sales,
net
|
|
$
269,273
|
|
$
231,477
|
Manufacturing and
royalty revenues
|
|
129,858
|
|
385,913
|
Research and
development revenue
|
|
—
|
|
7
|
Total
Revenues
|
|
399,131
|
|
617,397
|
Expenses:
|
|
|
|
|
Cost of goods
manufactured and sold
|
|
61,472
|
|
63,249
|
Research and
development
|
|
59,649
|
|
68,225
|
Selling, general and
administrative
|
|
168,113
|
|
195,756
|
Amortization of
acquired intangible assets
|
|
14
|
|
8,898
|
Total
Expenses
|
|
289,248
|
|
336,128
|
Operating
Income
|
|
109,883
|
|
281,269
|
Other Income,
net:
|
|
|
|
|
Interest
income
|
|
10,735
|
|
6,769
|
Interest
expense
|
|
(5,952)
|
|
(5,684)
|
Other income (expense),
net
|
|
2,053
|
|
(525)
|
Total Other Income,
net
|
|
6,836
|
|
560
|
Income Before Income
Taxes
|
|
116,719
|
|
281,829
|
Income Tax
Provision
|
|
22,061
|
|
2,728
|
Net Income From
Continuing Operations
|
|
94,658
|
|
279,101
|
Loss From
Discontinued Operations — Net of Tax
|
|
(3,300)
|
|
(42,036)
|
Net Income —
GAAP
|
|
$
91,358
|
|
$
237,065
|
|
|
|
|
|
GAAP Earnings (Loss)
Per Ordinary Share - Basic:
|
|
|
|
|
From continuing
operations
|
|
$
0.56
|
|
$
1.68
|
From discontinued
operations
|
|
$
(0.02)
|
|
$
(0.25)
|
From net
income
|
|
$
0.54
|
|
$
1.43
|
|
|
|
|
|
GAAP Earnings (Loss)
Per Ordinary Share - Diluted:
|
|
|
|
|
From continuing
operations
|
|
$
0.55
|
|
$
1.63
|
From discontinued
operations
|
|
$
(0.02)
|
|
$
(0.25)
|
From net
income
|
|
$
0.53
|
|
$
1.38
|
|
|
|
|
|
Weighted Average
Number of Ordinary Shares Outstanding:
|
|
|
|
|
Basic — GAAP and
Non-GAAP
|
|
168,321
|
|
166,279
|
Diluted — GAAP and
Non-GAAP
|
|
170,977
|
|
171,553
|
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statements of Operations - GAAP
(Continued)
|
|
Three Months
Ended
|
|
Three Months
Ended
|
(In thousands,
except per share data)
|
|
June 30,
2024
|
|
June 30,
2023
|
An itemized
reconciliation between net income from continuing operations on a
GAAP basis and EBITDA is as follows:
|
|
|
|
|
Net Income from
Continuing Operations
|
|
$
94,658
|
|
$
279,101
|
Adjustments:
|
|
|
|
|
Depreciation
expense
|
|
6,644
|
|
9,426
|
Amortization
expense
|
|
14
|
|
8,898
|
Interest
income
|
|
(10,735)
|
|
(6,769)
|
Interest
expense
|
|
5,952
|
|
5,684
|
Income tax
provision
|
|
22,061
|
|
2,728
|
EBITDA from
Continuing Operations
|
|
118,594
|
|
299,068
|
EBITDA from
Discontinued Operations
|
|
(3,913)
|
|
(41,388)
|
EBITDA
|
|
$
114,681
|
|
$
257,680
|
|
|
|
|
|
An itemized
reconciliation between net income from continuing operations on a
GAAP basis and non-GAAP net income is as follows:
|
Net Income from
Continuing Operations
|
|
$
94,658
|
|
$
279,101
|
Adjustments:
|
|
|
|
|
Share-based
compensation expense
|
|
20,601
|
|
27,187
|
Depreciation
expense
|
|
6,644
|
|
9,426
|
Amortization
expense
|
|
14
|
|
8,898
|
Non-cash net interest
expense
|
|
114
|
|
115
|
Separation
expense
|
|
813
|
|
5,857
|
Income tax effect
related to reconciling items
|
|
2,060
|
|
816
|
Gain on sale of Athlone
manufacturing facility
|
|
(1,462)
|
|
—
|
Final award in the
Janssen arbitration (2022 back royalties and interest)
|
|
—
|
|
(197,092)
|
Non-GAAP Net Income
from Continuing Operations
|
|
123,442
|
|
134,308
|
Non-GAAP Net Loss
from Discontinued Operations
|
|
(3,300)
|
|
(40,031)
|
Non-GAAP Net
Income
|
|
$
120,142
|
|
$
94,277
|
|
|
|
|
|
Non-GAAP diluted
earnings per ordinary share from continuing operations
|
|
$
0.72
|
|
$
0.78
|
Non-GAAP diluted loss
per ordinary share from discontinued operations
|
|
$
(0.02)
|
|
$
(0.23)
|
Non-GAAP diluted
earnings per ordinary share from net income
|
|
$
0.70
|
|
$
0.55
|
|
|
|
|
|
|
|
|
|
|
Alkermes plc and
Subsidiaries
|
Selected Financial
Information (Unaudited)
|
|
|
|
|
|
Condensed
Consolidated Statements of Operations - GAAP
|
|
Six Months
Ended
|
|
Six Months
Ended
|
(In thousands,
except per share data)
|
|
June 30,
2024
|
|
June 30,
2023
|
Revenues:
|
|
|
|
|
Product sales,
net
|
|
$
502,809
|
|
$
446,204
|
Manufacturing and
royalty revenues
|
|
246,691
|
|
458,775
|
Research and
development revenue
|
|
3
|
|
13
|
Total
Revenues
|
|
749,503
|
|
904,992
|
Expenses:
|
|
|
|
|
Cost of goods
manufactured and sold
|
|
120,116
|
|
121,413
|
Research and
development
|
|
127,260
|
|
131,995
|
Selling, general and
administrative
|
|
347,862
|
|
363,589
|
Amortization of
acquired intangible assets
|
|
1,073
|
|
17,698
|
Total
Expenses
|
|
596,311
|
|
634,695
|
Operating
Income
|
|
153,192
|
|
270,297
|
Other Income,
net:
|
|
|
|
|
Interest
income
|
|
20,134
|
|
11,735
|
Interest
expense
|
|
(11,930)
|
|
(10,972)
|
Other income
(expense), net
|
|
2,235
|
|
(564)
|
Total Other Income,
net
|
|
10,439
|
|
199
|
Income Before Income
Taxes
|
|
163,631
|
|
270,496
|
Income Tax
Provision
|
|
30,025
|
|
3,445
|
Net Income From
Continuing Operations
|
|
133,606
|
|
267,051
|
Loss From
Discontinued Operations — Net of Tax
|
|
(5,420)
|
|
(71,831)
|
Net Income —
GAAP
|
|
$
128,186
|
|
$
195,220
|
|
|
|
|
|
GAAP Earnings (Loss)
Per Ordinary Share - Basic:
|
|
|
|
|
From continuing
operations
|
|
$
0.79
|
|
$
1.61
|
From discontinued
operations
|
|
$
(0.03)
|
|
$
(0.43)
|
From net
income
|
|
$
0.76
|
|
$
1.18
|
|
|
|
|
|
GAAP Earnings (Loss)
Per Ordinary Share - Diluted:
|
|
|
|
|
From continuing
operations
|
|
$
0.78
|
|
$
1.56
|
From discontinued
operations
|
|
$
(0.03)
|
|
$
(0.42)
|
From net
income
|
|
$
0.75
|
|
$
1.14
|
|
|
|
|
|
Weighted Average
Number of Ordinary Shares Outstanding:
|
|
|
|
|
Basic — GAAP and
Non-GAAP
|
|
168,152
|
|
165,686
|
Diluted — GAAP and
Non-GAAP
|
|
171,960
|
|
170,747
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statements of Operations - GAAP
(Continued)
|
|
Six Months
Ended
|
|
Six Months
Ended
|
(In thousands,
except per share data)
|
|
June 30,
2024
|
|
June 30,
2023
|
An itemized
reconciliation between net income from continuing operations on a
GAAP basis and EBITDA is as follows:
|
|
|
|
|
Net Income from
Continuing Operations
|
|
$
133,606
|
|
$
267,051
|
Adjustments:
|
|
|
|
|
Depreciation
expense
|
|
13,641
|
|
18,810
|
Amortization
expense
|
|
1,073
|
|
17,698
|
Interest
income
|
|
(20,134)
|
|
(11,735)
|
Interest
expense
|
|
11,930
|
|
10,972
|
Income tax
provision
|
|
30,025
|
|
3,445
|
EBITDA from
Continuing Operations
|
|
170,141
|
|
306,241
|
EBITDA from
Discontinued Operations
|
|
(6,429)
|
|
(77,380)
|
EBITDA
|
|
$
163,712
|
|
$
228,861
|
|
|
|
|
|
An itemized
reconciliation between net income from continuing operations on a
GAAP basis and non-GAAP net income is as follows:
|
Net Income from
Continuing Operations
|
|
$
133,606
|
|
$
267,051
|
Adjustments:
|
|
|
|
|
Share-based
compensation expense
|
|
53,356
|
|
48,210
|
Depreciation
expense
|
|
13,641
|
|
18,810
|
Amortization
expense
|
|
1,073
|
|
17,698
|
Separation
expense
|
|
1,240
|
|
9,640
|
Income tax effect
related to reconciling items
|
|
(2,061)
|
|
(179)
|
Gain on sale of Athlone
manufacturing facility
|
|
(1,462)
|
|
—
|
Final award in the
Janssen arbitration (2022 back royalties and interest)
|
|
—
|
|
(197,092)
|
Non-cash net interest
expense
|
|
228
|
|
231
|
Non-GAAP Net Income
from Continuing Operations
|
|
199,621
|
|
164,369
|
Non-GAAP Net Loss
from Discontinued Operations
|
|
(5,420)
|
|
(67,676)
|
Non-GAAP Net
Income
|
|
$
194,201
|
|
$
96,693
|
|
|
|
|
|
Non-GAAP diluted
earnings per ordinary share from continuing operations
|
|
$
1.16
|
|
$
0.96
|
Non-GAAP diluted loss
per ordinary share from discontinued operations
|
|
$
(0.03)
|
|
$
(0.40)
|
Non-GAAP diluted
earnings per ordinary share from net income
|
|
$
1.13
|
|
$
0.57
|
|
|
|
|
|
Alkermes plc and
Subsidiaries
|
Selected Financial
Information (Unaudited)
|
|
|
|
|
|
Condensed
Consolidated Balance Sheets
|
|
June
30,
|
|
December
31,
|
(In
thousands)
|
|
2024
|
|
2023
|
Cash, cash equivalents
and total investments
|
|
$
962,520
|
|
$
813,378
|
Receivables
|
|
366,415
|
|
332,477
|
Inventory
|
|
194,731
|
|
186,406
|
Contract
assets
|
|
3,492
|
|
706
|
Prepaid expenses and
other current assets
|
|
101,435
|
|
98,166
|
Property, plant and
equipment, net
|
|
222,738
|
|
226,943
|
Intangible assets, net
and goodwill
|
|
83,945
|
|
85,018
|
Assets held for
sale
|
|
—
|
|
94,260
|
Deferred tax
assets
|
|
167,382
|
|
195,888
|
Other assets
|
|
104,184
|
|
102,981
|
Total
Assets
|
|
$
2,206,842
|
|
$
2,136,223
|
Long-term debt —
current portion
|
|
$
3,000
|
|
$
3,000
|
Other current
liabilities
|
|
512,548
|
|
512,678
|
Long-term
debt
|
|
286,459
|
|
287,730
|
Liabilities from
discontinued operations
|
|
—
|
|
4,542
|
Other long-term
liabilities
|
|
120,830
|
|
125,587
|
Total shareholders'
equity
|
|
1,284,005
|
|
1,202,686
|
Total Liabilities
and Shareholders' Equity
|
|
$
2,206,842
|
|
$
2,136,223
|
|
|
|
|
|
Ordinary shares
outstanding (in thousands)
|
|
165,887
|
|
166,980
|
|
|
|
|
|
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 quarter ended
June 30, 2024, which the company intends to file in July
2024.
|
Alkermes plc and
Subsidiaries
|
Amounts Included in
Discontinued Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In
thousands)
|
|
Three Months
Ended
March 31,
2024
|
|
Three Months
Ended
June 30,
2024
|
|
Six Months
Ended
June 30,
2024
|
Cost of goods
manufactured and sold
|
|
$
—
|
|
$
—
|
|
$
—
|
Research and
development
|
|
2,516
|
|
3,913
|
|
6,429
|
Selling, general and
administrative
|
|
—
|
|
—
|
|
—
|
Income tax
benefit
|
|
(396)
|
|
(613)
|
|
(1,009)
|
Loss from
discontinued operations, net of tax
|
|
$
2,120
|
|
$
3,300
|
|
$
5,420
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In
thousands)
|
|
Three Months
Ended
March 31,
2023
|
|
Three Months
Ended
June 30,
2023
|
|
Six Months
Ended
June 30,
2023
|
Cost of goods
manufactured and sold
|
|
$
11
|
|
$
11
|
|
$
22
|
Research and
development
|
|
29,867
|
|
32,563
|
|
62,430
|
Selling, general and
administrative
|
|
6,644
|
|
9,502
|
|
16,146
|
Income tax
benefit
|
|
(6,727)
|
|
(40)
|
|
(6,767)
|
Loss from
discontinued operations, net of tax
|
|
$
29,795
|
|
$
42,036
|
|
$
71,831
|
|
|
|
|
|
|
|
Alkermes
Contacts:
|
|
For
Investors:
|
Sandy
Coombs
|
+1 781 609
6377
|
For Media:
|
Katie Joyce
|
+1 781 249
8927
|
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