Alkermes (ALKS) Annual Novel Mechanisms in Neuropsychiatry Summit 2024 summary

Business transformation and strategic focus

• Completed oncology business spin-off and exited manufacturing operations, resulting in a streamlined, neuroscience-focused, highly profitable company with a billion-dollar product portfolio.

• Emphasized strong commercial execution in 2024 and a positive outlook for 2025, with expectations for further transformation and growth.

Commercial performance and market access

• LYBALVI achieved over $70 million in Q2 sales, with growth driven by efficacy and established market attributes.

• Secured two major commercial contracts in 2024, expanding access to over 50 million lives and improving formulary positioning.

• Focused on maintaining favorable contract terms to protect gross-to-net margins and facilitate long-term brand maturation.

Marketing strategy and competition

• Increased direct-to-consumer (DTC) efforts in 2024 and plans to expand the sales force in 2025 to maintain share of voice amid new market entrants.

• Targeted both physicians and non-physician prescribers, such as nurse practitioners, to broaden reach.

• Anticipates new branded therapies will increase overall market awareness and branded medication uptake, while focusing on protecting market share.