Alkermes Reports First Quarter Fiscal 2011 Financial Results

Alkermes, Inc.

today reported financial results for its first quarter of fiscal 2011, which ended on June 30, 2010. -- Quarterly revenues of $42.3 million, driven by strong manufacturing and royalty revenues from RISPERDAL(R) CONSTA(R). Worldwide sales of RISPERDAL CONSTA by Janssen, Division of Ortho-McNeil-Janssen Pharmaceuticals, Inc. and Janssen-Cilag (Janssen) were approximately $356 million, an increase of 3.4 percent on an operational basis year-over-year, and are based on product sales in more than 70 countries. -- GAAP net loss of $13.4 million and pro forma net loss of $9.0 million. -- Strong financial position, with cash and total investments of $328.5 million, prior to redemption of all remaining non-recourse RISPERDAL CONSTA secured 7% Notes on July 1, 2010, at a total cost of approximately $46.4 million.