) recently reaffirmed its view for fiscal 2013 (ending March 31,
2013). The company continues to expect adjusted earnings per
share in the range of $0.88-$1.02. The Zacks Consensus Estimate
is pegged below the company's guidance range at 63 cents.
Revenues are still projected in the range of $510 - $540
million. The Zacks Consensus Estimate of $525 million is within
the company's guidance range.
Alkermes also provided an update on its product portfolio and
pipeline. Currently, the key marketed products at Alkermes
include Risperdal Consta (schizophrenia and bipolar disorder),
Invega Sustenna (schizophrenia), Vivitrol (opioid and alcohol
dependence), Ampyra/Fampyra (improving walking ability in
multiple sclerosis patients) and Bydureon (type II diabetes).
Alkermes is optimistic about the growth of Invega Sustenna and
Vivitrol going forward. The company with its partner,
Johnson & Johnson
) is seeking to expand the label of Invega Sustenna.
Ampyra is marketed in the US by
). In ex-US territories
) markets the product as Fampyra. The drug is manufactured by
Alkermes. Recently, Acorda announced that the unaudited total
Ampyra sales in calendar 2012 were $266 million, up approximately
26% year over year.
In January 2012, Alkermes received a huge boost with the US
Food and Drug Administration (FDA) clearing Bydureon for treating
patients suffering from type II diabetes. The drug was launched
in the US in February. The drug, which targets the lucrative type
II diabetes market, represents significant commercial potential
for the company.
Apart from the robust product portfolio, Alkermes also boasts
a diversified pipeline. Interesting candidates include ALKS
9070/aripiprazole lauroxil (phase III: data expected by the end
of calendar 2013) for treating schizophrenia, ALKS 5461 (a
combination of ALKS 33 and buprenorphine) for treatment-resistant
depression (phase II, data expected in the second quarter of
calendar 2013) and ALKS 3831 (phase II expected to be initiated
in 2013, with data in 2014) for treating schizophrenia. The
successful development and commercialization of these candidates
should boost the company's top line.
We currently have a Neutral recommendation on Alkermes. The
stock carries a Zacks #3 Rank (Hold) in short run.
Currently, pharma stocks which look more attractive are
Valeant Pharmaceuticals, Inc.
Ironwood Pharmaceuticals, Inc.
). Both carry a Zacks #1 Rank (Strong Buy).
ACORDA THERAPT (ACOR): Free Stock Analysis
ALKERMES INC (ALKS): Free Stock Analysis
BIOGEN IDEC INC (BIIB): Free Stock Analysis
IRONWOOD PHARMA (IRWD): Free Stock Analysis
JOHNSON & JOHNS (JNJ): Free Stock Analysis
VALEANT PHARMA (VRX): Free Stock Analysis
To read this article on Zacks.com click here.