Alkermes Forecasts 2012 Pro Forma Revenues of $460M to $480M

Alkermes ALKS will provide expanded financial expectations for Alkermes plc. Revenues: In fiscal year 2012, the company expects pro forma revenues to grow at a single-digit rate to a range of $460 million to $480 million. Pro forma revenues of the combined companies on a trailing 12-month basis as of March 31, 2011, were approximately $450 million. Revenue growth for Alkermes plc will be driven by sales from five commercial products, each in their product growth phase and with long patent lives: RISPERDAL® CONSTA® (risperidone long-acting injection); INVEGA® SUSTENNA® (paliperidone palmitate); AMPYRA® (dalfampridine); VIVITROL and BYDUREON. Adjusted EBITDA: In fiscal year 2012, the company expects Adjusted EBITDA margins in the 15% to 20% range yielding pro forma Adjusted EBITDA in the range of $70 million to $90 million. In fiscal year 2013 and beyond, Adjusted EBITDA margins are expected to expand to 30% to 35%. VIVITROL: Alkermes will announce that VIVITROL had net sales of $9.7 million for the first quarter of fiscal 2012, an increase of 14% over the previous quarter. BYDUREON: Alkermes will announce today that BYDUREON has been launched in Europe, with the first commercial sale in the U.K. This triggers a $7 million milestone payment to Alkermes, expected in the second quarter of fiscal year 2012.