Q4 2024 Alkermes Plc Earnings Call Transcript

Feb 12, 2025 / 01:00PM GMT

Release Date Price: €32 (+5.26%)

Transcript 10-K8-K

Key Points

Positve

Alkermes PLC (ALKS) achieved over $1.5 billion in revenue for 2024, driven by a strong proprietary commercial portfolio.
The company reported more than $450 million in EBITDA for continuing operations, highlighting robust profitability.
Alkermes PLC (ALKS) ended the year debt-free with $825 million in cash, having retired all outstanding debt.
The company repurchased approximately 8 million shares, demonstrating a commitment to returning value to shareholders.
Significant progress was made in advancing the neuroscience development pipeline, particularly with the ALKS 2680 program in narcolepsy.

Negative

Alkermes PLC (ALKS) expects a decrease in manufacturing and royalty revenues by approximately $215 million in 2025 due to the expiration of the INVEGA SUSTENNA US royalty.
The company anticipates flat to modest growth for mature products like VIVITROL and ARISTADA, indicating potential challenges in these segments.
There is a projected increase in R&D expenses for 2025, reflecting ongoing investments in the ALKS 2680 Phase II programs.
Alkermes PLC (ALKS) faces competitive pressures in the antipsychotic space, necessitating an expansion of its psychiatry sales team.
The company expects Q1 2025 to be closer to breakeven on an EBITDA basis due to typical seasonal inventory drawdown patterns and other factors.

Operator

Greetings, and welcome to the Alkermes fourth quarter 2024 financial results conference call. My name is Melissa, and I will be your operator for today's call.

(Operator Instructions) Please note this conference call is being recorded. I will now turn the call over to Sandra Coombs, Senior Vice President of Investor Relations and Corporate Affairs. Thank you. You may begin.

Sandra Coombs

Alkermes Plc - Senior VP of Corporate Affairs & Investor Relations

Thank you. Good morning. Welcome to the Alkermes PLC conference call to discuss our financial results and business update for the quarter and year ended December 31, 2024. With me today are Richard Pops, our CEO; Blair Jackson, our Chief Operating Officer; and Todd Nichols, our Chief Commercial Officer.

A slide presentation along with our press release, related financial tables, and reconciliations of the GAAP to non-GAAP financial measures that we'll discuss today are available on the Investors section of alkermes.com. We believe the non-GAAP financial results in conjunction with the

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