Alkermes Q1 2024 revenue $350.4M, GAAP net income $38.9M, LYBALVI sales up 50% YoY

Alkermes plc.

2024-Q1 EPS reported $0.21 revenue$350,372,000

Total revenues of $350.4M vs $287.6M in Q1 2023; GAAP net income from continuing ops $38.9M ($0.23 EPS) vs loss of $12.1M.
LYBALVI net sales $57.0M (+50% YoY); VIVITROL $97.7M; ARISTADA $78.9M; royalty revenue $62.7M from J&J sublicense.
Non-GAAP net income from continuing ops $76.2M vs $30.1M; cash & investments $807.8M, debt $290.1M.
R&D expense $67.6M (+6%) driven by ALKS 2680; SG&A $179.7M (+7%) on LYBALVI DTC campaign.
Company reiterates 2024 financial expectations; positive phase 1b data for ALKS 2680 in narcolepsy type 2.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Alkermes plc. updated its first quarter of 2024 guidance (reaffirmed).

Period: first quarter of 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 1, 2024, Alkermes plc (the “Company”) announced financial results for the three months ended March 31, 2024.

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Source: SEC EDGAR

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