Business
Alkermes plc Reports Second Quarter 2022 Financial Results
— Second Quarter Revenues of $276.2 Million Reflect Strong Growth in Proprietary Net Sales — — GAAP Loss per Share of $0.18 and Non-GAAP Earnings per Share of
About this update from Alkermes Plc
[{"type":"text","content":"— Second Quarter Revenues of $276.2 Million Reflect Strong Growth in Proprietary Net Sales —\n— GAAP Loss per Share of $0.18 and Non-GAAP Earnings per Share of $0.06 —\n— Raises Financial Expectations for Full-Year 2022—\nDUBLIN, July 27, 2022 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) today reported financial results for the second quarter of 2022 and provided updated financial expectations for full-year 2022.\n\"In the second quarter, Alkermes continued to execute successfully across the business. VIVITROL® and ARISTADA® both grew year-over-year and sequentially, and LYBALVI® continued on a strong launch trajectory,\" commented Iain Brown, Chief Financial Officer of Alkermes. \"Today, we are pleased to be raising our financial expectations for full-year 2022, primarily due to LYBALVI's launch performance and updated assumptions related to continued royalty revenues on sales of long-acting INVEGA® products outside of the U.S. We believe that we are well positioned to continue to make meaningful progress against our strategic priorities and to drive shareholder value.\"\nQuarter Ended June 30, 2022 Financial Results\nRevenues\n- Total revenues for the quarter were $276.2 million, compared to $303.7 million for the same period in the prior year.\n- Net sales of proprietary products for the quarter were $190.8 million, compared to $160.8 million for the same period in the prior year.\nNet sales of VIVITROL were $96.1 million, compared to $88.4 million for the same period in the prior year, representing an increase of approximately 9%.Net sales of ARISTADAi were $74.6 million, compared to $72.4 million for the same period in the prior year, representing an increase of approximately 3%.Net sales of LYBALVI were $20.1 million, following its commercial launch in October 2021.- Manufacturing and royalty revenues for the quarter were $85.3 million, compared to $142.3 million for the same period in the prior year.\nRoyalty revenues from INVEGA SUSTENNA®/XEPLION®, INVEGA TRINZA®/TREVICTA® and INVEGA HAFYERA®/BYANNLI® (the long-acting INVEGA products) were $26.6 million, compared to $81.1 million for the same period in the prior year. This decrease was driven primarily by Janssen Pharmaceutica N.V.'s (Janssen) partial termination of the license agreement related to sales of the long-acting INVEGA products in the United States (U.S.).Manuf...