Alkermes plc ( (ALKS) ) has released its Q4 earnings. Here is a breakdown of the information Alkermes plc presented to its investors.
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Alkermes plc is a global biopharmaceutical company specializing in innovative treatments for neurological disorders, including alcohol and opioid dependence, schizophrenia, and bipolar I disorder. Headquartered in Ireland, the company is dedicated to advancing its proprietary products and expanding its research and development pipeline in neuroscience.
In its latest earnings report, Alkermes announced a total revenue of $1.56 billion for 2024, with a notable 18% increase in net sales of proprietary products. The company achieved a GAAP net income from continuing operations of $372 million and earnings per share of $2.20, highlighting its robust financial health and strategic focus.
Key financial highlights include over $1 billion in revenue from its proprietary product portfolio, an EBITDA of $452 million from continuing operations, and a successful debt retirement of $290 million, leaving the company debt-free with $825 million in cash and investments. The company’s revenue growth was driven by significant increases in sales of its key products: VIVITROL, ARISTADA, and LYBALVI.
Looking ahead, Alkermes remains optimistic about its future prospects, with ongoing phase 2 studies for ALKS 2680 in narcolepsy and plans to advance additional therapies into clinical trials. The company aims to leverage its diverse product portfolio and development pipeline to capture opportunities in the neuroscience sector, aligning with its strategic objectives for growth and profitability in 2025 and beyond.
