Alkermes Plc (NASDAQ: ALKS) is a biopharmaceutical company that develops and commercializes medicines for the treatment of central nervous system conditions including schizophrenia, bipolar I disorder, narcolepsy, alcohol dependence, and opioid dependence. Revenue comes from direct product sales of proprietary medicines and from royalties earned when licensees sell drugs incorporating Alkermes-developed drug delivery technologies. Alkermes commercializes four proprietary products, ARISTADA (initiation or re-initiation for schizophrenia), LUMRYZ (narcolepsy, FDA-approved May 2023 for adults and October 2024 for pediatric patients), VIVITROL (alcohol and opioid dependence), and a multiple sclerosis licensed product, while also collecting royalties on third-party products such as RISPERDAL CONSTA, INVEGA SUSTENNA, INVEGA TRINZA, and INVEGA HAFYERA sold by Janssen. LUMRYZ carries orphan drug exclusivity through May 2030 (adult) and October 2031 (pediatric). Competitors in overlapping disease states include Jazz Pharmaceuticals (XYWAV, XYREM), Indivior (SUBLOCADE), Johnson and Johnson (INVEGA franchise), and Harmony Biosciences (WAKIX), among others. Alkermes is incorporated in Ireland.

Revenue model

Product sales from directly commercialized proprietary drugs in the U.S., combined with royalty income from licensees (including Janssen) selling products built on Alkermes drug delivery technologies such as MICROPUMP. LUMRYZ also pays a royalty of 3.85% on net sales to Jazz Pharmaceuticals pursuant to a settlement agreement effective October 1, 2025.

Products and services

Proprietary products: ARISTADA (schizophrenia), LUMRYZ (narcolepsy, sodium oxybate extended-release oral suspension using MICROPUMP technology), VIVITROL (alcohol dependence, opioid dependence). Licensed third-party products using Alkermes technology: RISPERDAL CONSTA, INVEGA SUSTENNA/XEPLION, INVEGA TRINZA/TREVICTA, INVEGA HAFYERA/BYANNLI (all via Janssen). Key licensed product: a multiple sclerosis treatment. Proprietary drug delivery technology platforms include MICROPUMP.

Customers and end markets

Patients and healthcare providers treating schizophrenia, bipolar I disorder, narcolepsy, alcohol dependence, and opioid dependence. Reimbursement depends on third-party payers including commercial insurers and government programs. Licensees such as Janssen are customers for technology licensing.

Value-chain role

Drug developer and commercial-stage specialty pharma company. Manufactures through third-party contract manufacturers. Holds proprietary drug delivery IP and licenses it to pharmaceutical partners. Directly commercializes select products in the U.S.

Geographic exposure

LUMRYZ and other proprietary products are commercialized exclusively in the U.S. Technology licenses extend to international territories through partners such as Janssen.

Competitors

Jazz Pharmaceuticals (XYWAV, XYREM), Indivior (SUBLOCADE, SUBOXONE), Johnson & Johnson / Janssen (INVEGA franchise, RISPERDAL CONSTA), Harmony Biosciences (WAKIX), Axsome Therapeutics (SUNOSI), Braeburn (BRIXADI), Orexo (ZUBSOLV), Eli Lilly (ZYPREXA RELPREVV)

Source: SEC 10-K, filed 2026-02-25

Industry: Pharmaceutical Preparations Peers: Amarin Corporation PLC Horizon Therapeutics Public Ltd Co Prothena Corporation PLC