Alkermes plc (ALKS) Misses Q3 EPS by 2c

November 2, 2016 8:56 AM EDT

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Alkermes plc (NASDAQ: ALKS) reported Q3 EPS of ($0.08), $0.02 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $180.2 million versus the consensus estimate of $186.39 million.

“Our third quarter results demonstrate the value of our highly-diversified commercial portfolio, and were driven by the strong growth of our proprietary products, VIVITROL® and ARISTADA®,” commented James Frates, Chief Financial Officer of Alkermes. “As we approach year-end, we remain well-positioned to execute on our business strategy and are reiterating our 2016 financial expectations provided in July.”

“We are at an unprecedented place in Alkermes’ evolution, with two proprietary products growing in their markets, ALKS 5461 advancing at full speed, and two additional late-stage candidates well into their pivotal programs,” stated Richard Pops, Chief Executive Officer of Alkermes. “VIVITROL for opioid and alcohol dependence and ARISTADA for schizophrenia are important, distinctive medicines in their disease areas and are the foundation of our future growth. With the positive results of FORWARD-5 for ALKS 5461 for major depressive disorder in hand, Alkermes’ next potential growth driver is coming more clearly into focus.”

For earnings history and earnings-related data on Alkermes plc (ALKS) click here.

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