Alkermes Q2 2024 GAAP EPS $0.55; proprietary sales up 16% YoY; reiterates guidance

Alkermes plc.

2024-Q2 EPS reported $0.75 revenue$749,503,000

Total revenues $399.1M, GAAP net income from continuing ops $94.7M; non-GAAP net income $123.4M.
Proprietary net sales $269.3M (+16% YoY); LYBALVI $71.4M (+52%), VIVITROL $111.9M (+10%).
Cash & investments $962.5M; repurchased 3.5M shares for $84.7M in Q2; $315.3M remaining.
Positive phase 1b ALKS 2680 data in narcolepsy; initiated Vibrance-1 phase 2 for NT1.
Reiterated 2024 financial expectations; sold Athlone facility to Novo Nordisk for ~$91M.

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