{"id":811960,"date":"2025-02-12T07:08:01","date_gmt":"2025-02-12T12:08:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/alkermes-plc-reports-financial-results-for-the-fourth-quarter-and-year-ended-dec-31-2024-and-provides-financial-expectations-for-2025\/"},"modified":"2025-02-12T07:08:01","modified_gmt":"2025-02-12T12:08:01","slug":"alkermes-plc-reports-financial-results-for-the-fourth-quarter-and-year-ended-dec-31-2024-and-provides-financial-expectations-for-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/alkermes-plc-reports-financial-results-for-the-fourth-quarter-and-year-ended-dec-31-2024-and-provides-financial-expectations-for-2025\/","title":{"rendered":"Alkermes plc Reports Financial Results for the Fourth Quarter and Year Ended Dec. 31, 2024 and Provides Financial Expectations for 2025"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\u2014\u00a0\u00a0\u00a0 Total Revenues of $1.56 Billion<\/span> in 2024; Net Sales of Proprietary Products Increased Approximately 18% Year-Over-Year \u2014<\/i><\/p>\n

\u2014\u00a0\u00a0\u00a0 GAAP Net Income from Continuing Operations of $372 Million<\/span> and Diluted GAAP Earnings per Share from Continuing Operations of $2.20<\/span> for 2024 \u2014<\/i><\/p>\n

\u2014\u00a0\u00a0\u00a0 ALKS 2680 Phase 2 Studies in Narcolepsy Type 1 and Type 2 Ongoing With Data Expected in H2 2025 \u2014<\/i><\/p>\n

\n
\n DUBLIN<\/span>
\n <\/span>, Feb. 12<\/span>, 2025\u00a0<\/span> \/PRNewswire\/ —\u00a0Alkermes plc<\/a> (Nasdaq: ALKS) today reported financial results for the quarter and year ended Dec. 31, 2024<\/span> and provided financial expectations for 2025.<\/p>\n

“2024 marked the completion of a multi-year effort to transition the business into a highly profitable, pure-play neuroscience company. We enter 2025 with a diversified portfolio of proprietary commercial products generating substantial profitability and an advancing development pipeline that represents a significant value creation opportunity in one of the most exciting potential new therapeutic categories in neuroscience,” said Richard Pops, Chief Executive Officer of Alkermes. “Looking ahead, we are well positioned to deliver on our financial goals and advance the development programs for our portfolio of orexin 2 receptor agonists. This year, we have clear objectives for our pipeline as we complete the phase 2 studies for ALKS 2680 in narcolepsy, with data expected in the second half of the year, and prepare to initiate the ALKS 2680 phase 2 study in idiopathic hypersomnia and advance ALKS 4510 and ALKS 7290 into planned phase 1 studies in disease areas beyond central disorders of hypersomnolence. Each of these initiatives is an important element of our strategy to unlock what we believe is a multi-billion-dollar market opportunity for this category.”<\/p>\n

“2024 was Alkermes’ strongest year of financial and operational performance to date. Financially, we generated more than $1 billion<\/span> in revenue from our proprietary commercial product portfolio, delivered EBITDA from continuing operations of approximately $452 million<\/span>, repurchased $200 million<\/span> of the company’s ordinary shares, retired approximately $290 million<\/span> of debt and ended the year debt-free with approximately $825 million<\/span> of cash and investments on the balance sheet. \u00a0Operationally, we completed the sale of our manufacturing business in Ireland<\/span> and made significant progress advancing our neuroscience development pipeline,” said Blair Jackson<\/span>, Chief Operating Officer of Alkermes. “We will continue to manage the business with a sharp focus on efficiency and profitability as we invest in the programs that we believe will drive the company’s next phase of growth.”<\/p>\n

\n
\n Key Financial Highlights<\/u>
\n <\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Revenues<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In millions)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Three Months Ended
December 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Twelve Months Ended
December 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Revenues<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 430.0<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 377.5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,557.6<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,663.4*<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Proprietary Net Sales<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 307.7<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 242.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,083.5<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 920.0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 VIVITROL\u00ae<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 134.1<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 102.4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 457.3<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 400.4<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 ARISTADA\u00aei<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 96.6<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 83.4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 346.2<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 327.7<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 LYBALVI\u00ae<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 77.0<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 56.2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 280.0<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 191.9<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n

\n
\n Profitability<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In millions)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Three Months Ended
December 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Twelve Months Ended
December 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2023<\/b>*<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n GAAP Net Income From Continuing Operations<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 145.7<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 160.6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 372.1<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 519.2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n GAAP Net Income (Loss) From Discontinued Operations<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 0.8<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (47.8)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (5.1)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (163.4)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n GAAP Net Income <\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 146.5<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 112.8<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 367.1<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 355.8<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Non-GAAP Net Income From Continuing Operations<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 173.4<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 81.8<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 494.4<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 396.5<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Non-GAAP Net Income (Loss) From Discontinued Operations<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 0.8<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (44.4)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (5.1)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (152.9)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Non-GAAP Net Income <\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 174.2<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 489.3<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 243.7<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n EBITDA From Continuing Operations<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 170.0<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 72.8<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 452.4<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 486.3<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n EBITDA From Discontinued Operations<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1.1<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (40.5)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (5.8)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (162.5)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n EBITDA<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 171.1<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 446.6<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 323.8<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

*As a result of the successful resolution of the arbitration with Janssen Pharmaceutica N.V., the twelve months ended December 31, 2023<\/span> included approximately $195.4 million<\/span> of back royalties (and related interest) related to U.S. net sales of long-acting INVEGA\u00ae<\/sup> products that would ordinarily have been recognized in prior periods.<\/p>\n

\n
\n Revenue Highlights<\/u>
\n <\/b>\n <\/p>\n

\n LYBALVI<\/b>\n <\/p>\n