Alkermes Shares Move Higher On FDA Approval Of Schizophrenia, Bipolar Med

The FDA has approved Alkermes plc's ALKS Lybalvi, a once-daily, oral atypical antipsychotic composed of olanzapine, an established antipsychotic agent, and samidorphan, a new chemical entity, for schizophrenia and bipolar I disorder.
The approval comes as a maintenance monotherapy or for the acute treatment of manic or mixed episodes, as monotherapy or an adjunct to lithium or valproate.
The treatment will be commercially available later in Q4 of 2021.
Alkermes will host a conference call today at 8:30 a.m. ET.
Price Action: ALKS shares are up 0.60% at $22.80 during the market session on the last check Tuesday.