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Bank of America has published a report on Alkermes (NASDAQ: ALKS) after a drug court professionals conference.


In the report, Bank of America wrote, "Funding is key to Vivitrol uptake in drug court setting We recently attended the annual National Association of Drug Court Professionals (NADCP) conference in Washington DC. The feedback from attendees indicated that the drug court setting could provide a significant, longer term growth opportunity for Vivitrol in opioid dependency. The key enabler for this uptake, in our view, will be increased drug court funding, as Alkermes' government relations group believes the majority of incarcerated opioid addicts do not have health insurance and thus rely on drug court funds for treatment. Most drug court representatives referenced ~$850 costs per Vivitrol injection (Medicaid pricing), below the $1,100/inj list price. Our $7/share NPV for Vivitrol assumes $1,000 per injection as a blended price for Vivitrol with US sales of $300mn by 2015."

Bank of America rated Alkermes a BUY with a price target of $25.00. Alkermes closed Monday at $18.16.


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