Key Highlights

  • Diluted EPS of USD 0.09 beat the consensus estimate of a USD 0.08 loss, though Net Income fell.
  • Revenue rose 21.8% to USD 480.1 million, topping the consensus estimate of USD 463.48 million, with product sales up 31%.
  • LUMRYZ contributed USD 89.9 million of product sales, while VIVITROL reached USD 127.6 million and ARISTADA USD 103.9 million.
  • Interest expense of USD 27.6 million and higher costs cut Operating Income to USD 36.0 million from USD 89.1 million.

Alkermes plc (NASDAQ:ALKS) reported third quarter 2026 total revenues of USD 480.1 million, up 21.8% from USD 394.2 million a year earlier and above a consensus estimate of USD 463.48 million. Diluted EPS of USD 0.09 compared with a consensus estimate of a loss of USD 0.08 and with USD 0.49 a year earlier. Net income was USD 16.3 million against USD 82.8 million. The company tied the Earnings decline to higher operating expenses and interest expense linked to the Avadel Acquisition and the term Loan facilities, partly offset by a USD 85.9 million Revenue increase.

LUMRYZ Joins a Product Portfolio That Grew Across Most Lines

Net product sales rose to USD 417.3 million from USD 317.4 million. LUMRYZ, added with the Avadel acquisition that closed on February 12, 2026, contributed USD 89.9 million. VIVITROL rose to USD 127.6 million from USD 121.1 million, ARISTADA and ARISTADA INITIO rose to USD 103.9 million from USD 98.1 million, and LYBALVI slipped to USD 95.9 million from USD 98.2 million. Manufacturing and Royalty revenues declined to USD 62.9 million from USD 76.8 million. Cost of goods manufactured and sold rose to USD 94.2 million from USD 51.6 million, Research and Development to USD 121.1 million from USD 81.7 million, and selling, general and administrative expense to USD 208.5 million from USD 171.8 million. Amortization of acquired intangible assets added USD 19.7 million.

Pipeline, Financing Terms and Risks Cited

Alixorexton, the company lead orexin 2 receptor agonist candidate, is in phase 3 Brilliance studies in narcolepsy type 1 and type 2 and in the phase 2 Vibrance-3 study in idiopathic hypersomnia. The Avadel purchase carried USD 21.00 per share in cash plus a contingent value right of up to USD 1.50 per share tied to a specified milestone. The company amended its Credit agreement, cutting the spread on its term loan A by 0.75 percentage points and on term loan B by 0.50 percentage points, leaving principal of USD 745.3 million and USD 773.1 million. The company cited generic competition, payer coverage and reimbursement changes, and legislation or executive orders affecting drug pricing among the risks to its business.

Operating Income, Debt and Cash Against Prior Periods

Operating income of USD 36.0 million compares with USD 89.1 million a year earlier, and nine month operating income of USD 6.1 million compares with USD 195.9 million. Interest expense was USD 27.6 million against none, reaching USD 74.4 million over nine months. Nine month LUMRYZ sales of USD 226.0 million sit within total product sales of USD 1.167 billion against USD 869.2 million. Long Term Debt stood at USD 1.471 billion with none at year end 2025, while cash and equivalents were USD 631.3 million against USD 388.6 million at year end 2025, plus USD 124.2 million of short term investments. The nine month net loss was USD 49.7 million against net income of USD 192.3 million.