Slide 1: Fourth Quarter and Year End 2018 Financial Results & Business Update
Fourth Quarter and Year End 2018 Financial Results & Business Update February 14, 2019 Exhibit 99.2
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Certain statements set forth in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: the co
Slide 3: Transformational Progress Over the Past 5 Years
Transformational Progress Over the Past 5 Years Meaningful impact on patients ~380K patients1 treated with VIVITROL® or ARISTADA® Enhanced scale of the business Crossed $1B in total revenue in 2018 Increased annual proprietary product net sales by 527%2 Sophisticated commercial infrastructure Commun
Slide 4: Fourth Quarter Earnings Call Agenda
Fourth Quarter Earnings Call Agenda Q4 & Year End 2018 Financial Results 2019 Guidance Jim Frates Chief Financial Officer Commercial Update Jim Robinson President & Chief Operating Officer Business Update Richard Pops Chief Executive Officer
Slide 5: Fourth Quarter 2018 Revenue Summary
Fourth Quarter 2018 Revenue Summary In millions, except % Q4’18 Q4’17 ∆ Q4’18 vs. Q4’17 VIVITROL® $83.8 $75.6 11% ARISTADA® $48.8 $28.3 72% Manufacturing & Royalty Revenues* $167.4 $138.7 21% R&D Revenues $15.6 $4.7 N/A Total Revenues $315.8 $275.4 15% Total Revenues ($M) *In Q4’18, Manufacturing an
Slide 6: 2018 Revenue Summary
2018 Revenue Summary In millions, except % FY 2018 FY 2017 ∆ 2018 vs. 2017 VIVITROL® $302.6 $269.3 12% ARISTADA® $147.7 $93.5 58% Manufacturing & Royalty Revenues $526.7 $505.3 4% R&D Revenues $68.9 $7.2 N/A Total Revenues $1,094.3 $903.4 21% Total Revenues ($M) $1,094.3
Slide 7: Revenues From Proprietary Commercial Medicines
Revenues From Proprietary Commercial Medicines Proprietary Commercial Product Revenues ($M)
Slide 8: VIVITROL Performance
VIVITROL® Performance Q4 year-over-year net sales growth of 11%, driven by underlying unit growth of 11% Q4’18 results reflect estimated 49% Medicaid units Net sales increased 5% sequentially, driven by unit growth Inventory in the channel increased by <1 week at year-end Gross-to-net deductions of
Slide 9: ARISTADA Performance
Q4 year-over-year net sales growth of 72% Sequential growth of 35% compared to Q3’18, driven by unit growth and favorable gross-to-net adjustments Approximately 44% gross-to-net deductions, compared to 47% in Q3’18 and 42% in Q4’17 Inventory in the channel increased by ~1 week at year-end 2019 net s
Slide 10: Alkermes: 2019 Financial Expectations
(in millions, except per share amounts) Financial Expectations for Year Ending Dec. 31, 2019† Revenues $1,140 – 1,190 COGS $180 – 190 R&D Expense $450 – 480 SG&A Expense $590 – 620 Amortization of Intangible Assets ~$40 Net Interest Expense $5 to $10 Income Tax Expense $10 to $15 GAAP Net Loss $(135
Slide 11: 2019 Financial Expectations - Operating Expenses
Alkermes: 2019 Financial Expectations† - Operating Expenses Investments in R&D to support current development programs and pipeline expansion R&D expected to be in the range of $450M to $480M, driven by: Ongoing studies related to ARISTADA®, ALKS 3831 and diroximel fumarate that are carrying over fr
Slide 12: State and federal dollars are being allocated to treatment system
State and federal dollars are being allocated; Funding slowly flowing into fragmented treatment system Improvements in accessibility of VIVITROL and implementation of public policy initiatives driving growth in bellwether states Encouraged by new trends and initiatives in important states such as Pe
Slide 13: 2018 was highlighted by the launch of ARISTADA INITIO
2018 was highlighted by the launch of ARISTADA INITIO® ARISTADA INITIO regimen* in conjunction with two-month ARISTADA resonating with treatment providers and patients Covered by the largest health plans and PBMs Added to the formularies of 65 of the largest hospitals since launch ARISTADA market sh
Slide 14: ALKS 3831
ALKS 3831 Investigational, novel, once-daily, oral atypical antipsychotic drug candidate for the treatment of schizophrenia Designed to provide antipsychotic efficacy of olanzapine with a favorable weight profile Reported positive topline results from ENLIGHTEN-2, a six-month phase 3 study assessing
Slide 15: Diroximel Fumarate (DRF, formerly BIIB098)
Diroximel Fumarate (DRF, formerly BIIB098) Investigational product for the treatment of relapsing forms of multiple sclerosis (MS) License and collaboration agreement with Biogen announced in Q4’17 Submitted NDA to the FDA in Q4’18 Biogen intends to commercialize under the brand name VUMERITY™, whic
Slide 16: ALKS 4230
ALKS 4230 Novel immuno-oncology candidate Designed to selectively activate intermediate-affinity IL-2 receptors to enhance tumor-killing immune cells Monotherapy dose-escalation stage of phase 1 study ongoing Initiated evaluation of safety and anti-tumor activity of ALKS 4230 in combination with pem
Slide 17: Significant News Flow Expected in 2019
ARISTADA® Report topline results for phase 3b ARISTADA-INVEGA SUSTENNA® study (H1) ALKS 3831 Present ENLIGHTEN-2 data at medical meeting (H1) Submit NDA for schizophrenia (mid-year) VIVITROL® Present and publish data on detox and induction strategies Diroximel fumarate Report topline data for EVOLVE
Slide 18: www.alkermes.com
” www.alkermes.com