Alkermes Terminates Authorized Generic Agreement for VIVITROL®
ALKS has more than doubled off its 52-week low of $25.165.
Summary
Alkermes has terminated its agreement with Amneal Pharmaceuticals for an authorized generic version of VIVITROL®, removing a planned competitor for its key product without incurring penalties.
Key Events · Product Development and Regulatory · ALKS
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Authorized Generic Agreement Terminated
Alkermes terminated its Authorized Generic Product Supply Agreement with Amneal Pharmaceuticals LLC, which was for a limited quantity of an authorized generic version of VIVITROL®.
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No Penalties Incurred
The company confirmed it did not incur any penalties or further obligations in connection with the termination, and all claims between the parties were released.
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Impact on VIVITROL® Market
The termination removes a previously planned source of generic competition for Alkermes' branded VIVITROL®, potentially benefiting its market position.
Analysis · ALKS · Life Sciences
The termination of the authorized generic agreement for VIVITROL® with Amneal Pharmaceuticals removes a planned source of competition for Alkermes' branded product. While the original agreement was for a limited quantity and a one-year term, its cessation means Alkermes will not face this specific generic entry, potentially benefiting VIVITROL®'s market position. The company reported no penalties or further obligations from the termination. This positive development occurs while the stock is trading near its 52-week high.
At the time of this filing, ALKS was trading at $55.36 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $9.2B. The 52-week trading range was $25.17 to $55.67. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.