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Alkermes plc Reports Financial Results for the Fourth Quarter and Year Ended Dec. 31, 2024 and Provides Financial Expectations for 2025
ALKSAlkermes(ALKS) Prnewswire·2025-02-12 12:00

Financial Performance - Total revenues for 2024 were reported at 1.56billion,withproprietaryproductnetsalesincreasingapproximately181.56 billion, with proprietary product net sales increasing approximately 18% year-over-year [1][3] - GAAP net income from continuing operations was 372 million, translating to diluted GAAP earnings per share of 2.20for2024[1][3]−Thecompanygeneratedover2.20 for 2024 [1][3] - The company generated over 1 billion in revenue from its proprietary commercial product portfolio and delivered EBITDA from continuing operations of approximately 452million[2][3]ProductPerformance−Proprietarynetsalesforthefourthquarterof2024were452 million [2][3] Product Performance - Proprietary net sales for the fourth quarter of 2024 were 307.7 million, compared to 242.0millioninthesamequarterof2023,markingasignificantincrease[3][12]−KeyproductsincludedVIVITROL®withrevenuesof242.0 million in the same quarter of 2023, marking a significant increase [3][12] - Key products included VIVITROL® with revenues of 134.1 million (up 31% year-over-year), ARISTADA® with 96.6million(up1696.6 million (up 16%), and LYBALVI® with 77.0 million (up 37%) [3][12] Operational Developments - The company completed the sale of its manufacturing business in Ireland and ended 2024 debt-free with approximately 825millionincashandinvestments[2][13]−OngoingPhase2studiesforALKS2680innarcolepsyareexpectedtoyielddatainthesecondhalfof2025,withplanstoinitiateadditionalstudiesinidiopathichypersomnia[2][1]FinancialExpectationsfor2025−Thecompanyanticipatestotalrevenuesbetween825 million in cash and investments [2][13] - Ongoing Phase 2 studies for ALKS 2680 in narcolepsy are expected to yield data in the second half of 2025, with plans to initiate additional studies in idiopathic hypersomnia [2][1] Financial Expectations for 2025 - The company anticipates total revenues between 1.34 billion and 1.43billionfor2025,withspecificnetsalesexpectationsforVIVITROL,ARISTADA,andLYBALVI[15]−ProjectedGAAPnetincomefor2025isestimatedtobebetween1.43 billion for 2025, with specific net sales expectations for VIVITROL, ARISTADA, and LYBALVI [15] - Projected GAAP net income for 2025 is estimated to be between 175 million and 205million,withEBITDAexpectedtorangefrom205 million, with EBITDA expected to range from 215 million to $245 million [15][34]