Alkermes PLC

ALKS

Equity

ISIN IE00B56GVS15 / Valor 13920929

NASDAQ (2024-09-18)

USD 27.83+0.32%

Alkermes PLC
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About company

Alkermes PLC is a biopharmaceutical company focused on the development and commercialization of medicines for the treatment of psychiatric and neurological disorders, areas known for their complexity and the significant challenges they pose in treatment. Leveraging its deep expertise in neuroscience, Alkermes aims to address the unmet needs of patients suffering from conditions that are often difficult to treat and historically subject to stigma. The company's portfolio includes both marketed medicines and investigational drugs that are currently in various stages of clinical development. Alkermes emphasizes a patient-centric approach in its research and development efforts, striving to innovate in fields where therapeutic options are limited or inadequate. Through its integrated research strategy and specialized commercial infrastructure, Alkermes is committed to delivering new treatment options that can potentially transform the management of psychiatric and neurological diseases, underscoring its dedication to making a meaningful difference in patients' lives.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

Alkermes PLC reported revenues of $399.1 million for the second quarter of 2024. This reflects a solid performance, with a notable increase in net sales of proprietary products by approximately 16% year-over-year.

Net Income

For the second quarter of 2024, Alkermes PLC achieved a GAAP net income from continuing operations of $94.7 million. This resulted in diluted GAAP earnings per share from continuing operations of $0.55.

Product Sales

Alkermes PLC's proprietary product, VIVITROL®, generated revenues of $111.9 million in the second quarter of 2024. This marks a 10% increase compared to the same period in 2023, driven primarily by the alcohol dependence indication.

Financial Position

As of June 30, 2024, Alkermes PLC reported cash, cash equivalents, and total investments of $962.5 million. This is an increase from $807.8 million at the end of the first quarter of 2024, indicating a strong financial position.

Share Repurchase Program

During the second quarter of 2024, Alkermes PLC repurchased approximately 3.5 million of its ordinary shares at a total purchase price of $84.7 million. As of June 30, 2024, the company had $315.3 million remaining under the authorized share repurchase program.

Summarized from source with an LLMView Source

Key figures

-7.02%1Y

-7.57%3Y

29.6%5Y

Performance

39.2%1Y

38.0%3Y

41.0%5Y

Volatility