The following is a summary of the Alkermes Plc (ALKS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Alkermes reported Q3 2024 net sales of $273 million from their proprietary product portfolio, representing an 18% year-over-year growth.

• Full-year expectations for VIVITROL are towards the high end of the $410 million to $430 million range, with third-quarter sales reaching $113.7 million.

• Anticipated ARISTADA net sales for the year are projected towards the lower end of the previously stated $340 million to $360 million range, with Q3 sales of $84.7 million.

• LYBALVI achieved Q3 net sales of $74.7 million, and the full-year sales forecast remains within the $275 million to $295 million range.

• Total Q3 revenues amounted to $378.1 million, with a noteworthy mention of manufacturing and royalty revenues totaling $105.1 million.

Business Progress:

• Alkermes continues to focus on enhancing commercial access and payer negotiations to support long-term growth, particularly for LYBALVI.

• Plans for increased investment in personal promotions and expanding salesforce to maintain competitive market presence.

• The transition of VUMERITY manufacturing to Biogen in 2025 is part of strategic manufacturing realignments.

Opportunities:

• The growth trajectory of LYBALVI is promising due to its differentiated safety and efficacy profile, continuing to expand prescriber breadth especially in bipolar 1 disorder.

• Strategic maneuvers to capture greater market share and expand commercial payer access for their products, particularly LYBALVI, are set to drive higher unit volumes and fulfillment rates.

Risks:

• Anticipated persistent softness in the schizophrenia long-acting antipsychotic market could restrain ARISTADA's growth.

• Expiry of royalties for certain products and strategic transitions in manufacturing could affect revenue streams, impacting financial outcomes in the short term.

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