Alkermes plc. Files 2024 10-K Annual Report

TL;DR

Alkermes 2024 10-K is in! Full financial picture for the year ending Dec 31, 2024.

AI Summary

Alkermes plc. filed its 2024 10-K on February 12, 2025, reporting on its fiscal year ending December 31, 2024. The company, a biopharmaceutical firm, operates in the pharmaceutical preparations sector. Key financial data and business operations for the period are detailed in this comprehensive annual report.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Alkermes' financial performance, strategic initiatives, and risk factors for the fiscal year 2024, crucial for understanding the company's current standing and future outlook.

Risk Assessment

Risk Level: medium — As a biopharmaceutical company, Alkermes faces inherent risks related to drug development, regulatory approvals, market competition, and intellectual property.

Key Numbers

• 2024-12-31 — Fiscal Year End (The reporting period for the 10-K filing.)
• 2023-12-31 — Prior Year End (For comparative financial analysis.)
• 2022-12-31 — Previous Year End (For trend analysis.)

Key Players & Entities

• Alkermes plc. (company) — Filer of the 10-K report
• 2024-12-31 (date) — Fiscal year end date
• 2025-02-12 (date) — Filing date of the 10-K
• Biogen (company) — Mentioned in relation to credit concentration risk
• Cardinal Health (company) — Mentioned in relation to customer concentration risk

FAQ

Key Financial Figures

• $0.01 — on which registered Ordinary shares, $0.01 par value ALKS Nasdaq Global Select

Filing Documents

• alks-20241231.htm (10-K) — 5470KB
• alks-ex4_1.htm (EX-4.1) — 105KB
• alks-ex19_1.htm (EX-19.1) — 79KB
• alks-ex21_1.htm (EX-21.1) — 17KB
• alks-ex23_1.htm (EX-23.1) — 3KB
• alks-ex31_1.htm (EX-31.1) — 18KB
• alks-ex31_2.htm (EX-31.2) — 18KB
• alks-ex32_1.htm (EX-32.1) — 22KB
• img77546233_0.jpg (GRAPHIC) — 88KB
• img77546233_1.jpg (GRAPHIC) — 132KB
• img77546233_2.jpg (GRAPHIC) — 137KB
• img77546233_3.jpg (GRAPHIC) — 65KB
• img77546233_4.jpg (GRAPHIC) — 128KB
• 0000950170-25-019011.txt ( ) — 23729KB
• alks-20241231.xsd (EX-101.SCH) — 2365KB
• alks-20241231_htm.xml (XML) — 5242KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 30 Item 1B. Unresolved Staff Comments 51 Item 1C. Cybersecurity 51 Item 2.

Properties

Properties 52 Item 3.

Legal Proceedings

Legal Proceedings 52 Item 4. Mine Safety Disclosures 52 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 53 Item 6. [Reserved] 55 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 56 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 66 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 67 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 68 Item 9A.

Controls and Procedures

Controls and Procedures 68 Item 9B. Other Information 69 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 69 PART III Item 10. Directors, Executive Officers and Corporate Governance 70 Item 11.

Executive Compensation

Executive Compensation 70 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 70 Item 13. Certain Relationships and Related Transactions, and Director Independence 70 Item 14. Principal Accounting Fees and Services 70 PART IV Item 15. Exhibits and Financial Statement Schedules 71 Item 16. Form 10-K Summary 77

SIGNATURES

SIGNATURES 78 2 CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS This document contains and incorporates by reference "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In some cases, these statements can be identified by the use of forward-looking terminology such as "may," "will," "could," "should," "would," "expect," "anticipate," "continue," "believe," "plan," "estimate," "intend," or other similar words. These statements discuss future expectations and contain projections of results of operations or of financial condition, or state trends and known uncertainties or other forward-looking information. Forward-looking statements in this Annual Report on Form 10-K (this "Annual Report") may include, without limitation, statements regarding: our expectations regarding our financial performance, including revenues, expenses, liquidity, capital expenditures, income taxes and profitability; our expectations regarding our products, including expectations related to product development, regulatory filings, approvals and timelines; therapeutic and commercial value, scope and potential; and the costs and expenses related to such activities and expectations; our expectations regarding the initiation, timing and results of clinical trials of our products; our expectations regarding the competitive, payer, legislative, regulatory and policy landscape, and changes therein, related to our products, including competition from generic forms of our products or competitive products and development programs; barriers to access or coverage of our products and potential changes in reimbursement of our products; and legislation, regulations, executive orders, guidance or other measures that may impact pricing and reimbursement of, and access to, our products; our expectations regarding the financial

Business

Item 1. Business The following discussion contains forward-looking statements. Actual results may differ significantly from those expressed or implied in the forward-looking statements. See "Cautionary Note Concerning Forward-Looking Statements" on page 3 of this Annual Report. Factors that might cause future results to differ materially from those expressed or implied in the forward-looking statements include, but are not limited to, those discussed in "Item 1A—Risk Factors" and elsewhere in this Annual Report. Overview Alkermes plc is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. We have a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of clinical and preclinical candidates in development for neurological disorders, including narcolepsy and idiopathic hypersomnia. Headquartered in Ireland, we also have a corporate office and R&D center in Massachusetts and a manufacturing facility in Ohio. Marketed Products The key marketed products discussed below have generated, or are expected to generate, significant revenues for us. See the section entitled " Patents and Proprietary Rights " in "Item 1—Business" in this Annual Report for information with respect to the IP protection for these marketed products. The following provides summary information regarding our proprietary products that we commercialize: Proprietary Products Product Indication(s) Territory Initiation or re-initiation of ARISTADA for the treatment of Schizophrenia U.S. Schizophrenia U.S. 6 Schizophrenia; Bipolar I disorder U.S. Alcohol dependence; Opioid dependence U.S. 7 The following provides summary information regarding certain key third-party products using our proprietary technologies under license and our key licensed product, that are commercialized by our licensees: Key Thir