Alkermes After Elan: A Slow Start But A Maturing Pipeline
This article was originally published in The Pink Sheet Daily
As it continues its transformation into a drug development company, Alkermes says it is meeting its own expectations, but analysts are disappointed, at least in the short term.
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Newly-reconfigured Alkermes reported third quarter fiscal 2013 earnings, highlighting how far it’s come since merging with the drug delivery unit of Elan a year ago and the strides it’s made with its pipeline of late.
Five commercial products, led by long-acting anti-psychotics, will drive growth through 2015, when the new pipeline will start to contribute, management says.
Alkermes Inc's acquisition of Elan Corp.'s Elan Drug Technology, announced May 9, more than doubles the revenues of one of the biopharma industry's most successful reformulation companies, and provides it with additional cash flow it needs to pursue a slate of innovative compounds it is developing.