Slide 1: Second Quarter 2023 Financial Results & Business Update
Second Quarter 2023 Financial Results & Business Update July 26, 2023 © 2023 2021 Alkermes. All rights reserved.
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: Alkerm
Slide 3: Q2 2023 Financial Performance
Q2 2023 Financial Performance
Slide 4: Q2 2023 Financial Results Summary
Q2 2023 Financial Results Summary Total Revenue* GAAP Net Income (Loss) Non-GAAP Net Income** In millions In millions In millions $617.4 $94.3 $237.1 $276.2 ($30.1) $10.5 Q2 2022 Q2 2023 Q2 2022 Q2 2023 Q2 2022 Q2 2023 *Following the successful outcome of the Company’s arbitration with Janssen Pharm
Slide 5: Q2 2023 Janssen Revenues
Q2 2023 Janssen Revenues* Long-acting INVEGA® CABENUVA® Total (millions) Product** Revenues Revenues Revenues FY'22 royalties on U.S. net sales $187.3 $1.7 $189.0 FY'22 interest on late payments $8.1 $0.1 $8.1 FY'23 Q1 royalties on U.S. net sales $50.2 $1.1 $51.3 FY'23 Q2 royalties on WW net sales $
Slide 6: Q2 2023 Revenue Summary
Q2 2023 Revenue Summary ∆ In millions, except % Q2’23 Q2’22 Q2’23 vs. Q2’22 Total Proprietary Net Sales $231.5 $190.8 21% VIVITROL® $102.1 $96.1 6% ARISTADA®* $82.4 $74.6 10% LYBALVI®† $47.0 $20.1 134% Manufacturing & Royalty Revenue** $385.9 $85.3 352% Research & Development Revenue $0.0 $0.1 - Tot
Slide 7: Alkermes: 2023 Financial Expectations
Alkermes: 2023 Financial Expectations1 Total Revenues Breakdown: Financial Expectations for Year (in millions, except per share amounts) Ending Dec. 31, 2023 • Expected net sales of proprietary products: Total Revenues $1,550 – $1,680 o VIVITROL® net sales of $380M – $410M COGS $230 – $250 o ARISTAD
Slide 8: Q2 2023 Commercial Review
Q2 2023 Commercial Review
Slide 9: Topline Growth and Diversification Reflect Evolving Business
Topline Growth and Diversification Reflect Evolving Business Key Product Revenues ($M) $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 FY'18 FY'19 FY'20 FY'21 FY'22 Q2'23 R12M VIVITROL® ARISTADA®* VUMERITY®** LYBALVI® *Inclusive of ARISTADA INITIO® **Licensed product (royalty & manufacturing
Slide 10: LYBALVI Prescription Growth Trends
LYBALVI® Prescription Growth Trends Post-Launch TRx* (Through 7/14/23) 3,500 Q2’23 total TRx: 3,250 3,000 • ~38,300 reflecting 16% 2,750 sequential growth compared 2,500 to Q1’23 2,250 2,000 ~11,150 prescribers had written 1,750 TRx 1,500 a prescription for LYBALVI 1,250 (as of 6/30/23) since launch
Slide 11: LYBALVI Performance and Expectations
LYBALVI® Performance and Expectations LYBALVI Quarterly Net Sales ($M) $50 Q2’23 net sales of $47.0M reflect 24% sequential growth compared to Q1’23 $45 $40 • Q2’23 gross-to-net deductions: ~26%, reflecting the Company’s commercial access $35 strategy to limit rebates at this stage of launch $30 $25
Slide 12: ARISTADA Performance and Expectations
ARISTADA® Performance and Expectations ARISTADA Quarterly Net Sales ($M)* $90 Q2’23 year-over-year net sales increased 10% to $82.4M $80 $70 Outlook: • FY’23 net sales expected to range from $60 $315M – $345M†* $50 $40 $30 $20 $10 $0 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 *Inclusive of ARISTADA INITIO®
Slide 13: VIVITROL Performance and Expectations
VIVITROL® Performance and Expectations VIVITROL Quarterly Net Sales ($M) $120 Q2’23 year-over-year net sales increased 6% to $102.1 $100 Outlook: $80 • FY’23 net sales expected to range from $380M – $410M* $60 $40 $20 $0 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 *These expectations were initially provided
Slide 14: Appendix
Appendix
Slide 15: Appendix: Financial Results GAAP to Non-GAAP Adjustments
Appendix: Financial Results GAAP to Non-GAAP Adjustments Three Months Ended (In millions) June 30, 2023 Net Income — GAAP $ 237.1 Adjustments: Share-based compensation expense 28.5 Depreciation expense 10.1 Amortization expense 8.9 Final award in the Janssen arbitration (2022 back royalties and inte
Slide 16: Appendix: 2023 Guidance GAAP to Non-GAAP Adjustments
Appendix: 2023 Guidance GAAP to Non-GAAP Adjustments Year Ending Earnings Per (In millions, except per share data) December 31, 2023 Shares+ Share Projected Net Income — GAAP $ 245.0 171.5 $ 1.43 Adjustments: Share-based compensation expense 97.5 Depreciation expense 42.5 Amortization expense 35.0 S
Slide 17: www.alkermes.com
www.alkermes.com © 2023 2021 Alkermes. All rights reserved.