secwatch.observer — SEC 8-K summary
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Issuer:     Alkermes plc. (ALKS)
CIK:        0001520262
Form:       8-K
Filed at:   2023-06-06T23:59:59+00:00
Accession:  0000950170-23-026518
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alkermes wins arbitration vs Janssen, raises 2023 outlook by ~$425M
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- Final arbitration award confirms Janssen must pay royalties on INVEGA and CABENUVA products; back royalties of ~$194M (incl. interest) received.
- 2023 total revenue guidance raised to $1.55B-$1.68B from $1.13B-$1.25B; GAAP net income now $225M-$265M vs prior loss.
- Royalty terms clarified: INVEGA SUSTENNA until Aug 2024, INVEGA TRINZA until Q2 2030, INVEGA HAFYERA until May 2030, CABENUVA until Dec 2036.
- Non-GAAP net income guidance raised to $230M-$270M from $0M-$40M; back royalties excluded from non-GAAP.
- Company reiterates FY2024/2025 profitability targets (25%/30% non-GAAP net income margin) excluding Janssen royalties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1520262/000095017023026518/0000950170-23-026518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1520262/000095017023026518/alks-20230531.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-026518

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer