Alkermes plc reported a net income of $87.1 million for the second quarter of 2025, translating to earnings of $0.53 per ordinary share, a decrease from $94.7 million or $0.56 per share in the same period last year. For the first half of 2025, net income from continuing operations was $109.6 million, down from $133.6 million in the prior year. The decline in profitability was attributed to a $52.3 million drop in revenues, primarily driven by lower manufacturing and royalty revenues, despite a $38 million increase in product sales, net, which reached $307.2 million for the quarter.
Total revenues for the second quarter of 2025 were $390.7 million, a slight decrease from $399.1 million in the same quarter of 2024. Product sales, net, increased by 14% for LYBALVI and 2% for ARISTADA, while VIVITROL saw a 1% decrease in units sold. The company also experienced a significant decline in manufacturing and royalty revenues, which fell to $83.4 million from $129.9 million year-over-year, largely due to the expiration of royalties on INVEGA SUSTENNA in August 2024.
Operationally, Alkermes has made strategic moves, including the completion of the sale of its Athlone Facility to Novo Nordisk in May 2024, which has impacted its cost structure. The company reported a 10% increase in R&D-related headcount, reflecting its commitment to advancing its pipeline, particularly with the investigational drug Alixorexton, which is currently in phase 2 clinical trials. The total employee count as of June 30, 2025, was not disclosed, but the increase in headcount indicates a focus on expanding its research capabilities.
Alkermes' cash and cash equivalents rose to $521.2 million as of June 30, 2025, up from $291.1 million at the end of 2024, bolstered by cash flows from operating activities of $249 million during the first half of the year. The company anticipates that its existing cash and investments will be sufficient to meet its working capital needs for at least the next twelve months. Looking ahead, Alkermes expects continued challenges in its manufacturing and royalty revenues but remains focused on product sales growth and advancing its clinical pipeline.
About Alkermes plc.
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