Alkermes plc · Q4 2019 earnings

Briefing

Alkermes reported financial results for the fourth quarter and year ended Dec. 31, 2019.

Alkermes plc reported Q4 2019 financial results, with total revenues of $412.7 million compared to $315.8 million for the same period in the prior year. The company reported a GAAP net loss of $5.4 million, or $0.03 per share, and non-GAAP net income of $131.4 million, or $0.83 per share.

• Total revenues for the quarter were $412.7 million, compared to $315.8 million for the same period in the prior year.
• GAAP net loss was $5.4 million for the quarter, or a basic and diluted GAAP loss per share of $0.03.
• Non-GAAP net income was $131.4 million for the quarter, or a non-GAAP basic and diluted earnings per share of $0.83.
• Alkermes implemented a strategic restructuring plan in October 2019, expected to result in cost savings of approximately $150 million in 2020.

Headline financials

Revenue & EPS history

The company expects total revenues to range from $1.03 billion to $1.08 billion. Excluding license and R&D revenues from Biogen of approximately $195 million related to the development and approval of VUMERITY recorded in 2019, this represents revenue growth of approximately 8%. Included in this total revenue expectation, Alkermes expects VIVITROL net sales to range from $340 million to $355 million, and ARISTADA net sales to range from $220 million to $235 million.