Alkermes Sells Lybalvi Rights to Sumitomo for $200M

TL;DR

Alkermes sells Lybalvi US rights to Sumitomo for $200M upfront, focusing on pipeline.

AI Summary

Alkermes plc. announced on April 14, 2025, that it has entered into a definitive agreement to sell its U.S. commercial rights to the schizophrenia drug Lybalvi to Sumitomo Pharma Co., Ltd. for an upfront payment of $200 million. Alkermes will also receive potential milestone payments and royalties on net sales, with the transaction expected to close in the second half of 2025.

Why It Matters

This divestiture allows Alkermes to focus on its pipeline and potentially accelerate the development of new therapies, while Sumitomo gains a commercial foothold in the U.S. for a key schizophrenia treatment.

Risk Assessment

Risk Level: medium — The transaction's success depends on regulatory approvals and Sumitomo's ability to commercialize Lybalvi effectively, with potential risks related to milestone achievement and royalty streams.

Key Numbers

• $200.0M — Upfront Payment (Received by Alkermes from Sumitomo Pharma for U.S. commercial rights to Lybalvi.)

Key Players & Entities

• Alkermes plc. (company) — Seller of U.S. commercial rights
• Sumitomo Pharma Co., Ltd. (company) — Buyer of U.S. commercial rights
• Lybalvi (drug) — Schizophrenia drug
• $200 million (dollar_amount) — Upfront payment for U.S. commercial rights
• April 14, 2025 (date) — Date of definitive agreement
• second half of 2025 (date) — Expected closing period for the transaction

FAQ

From the Filing

0000950170-25-054483.txt : 20250416 0000950170-25-054483.hdr.sgml : 20250416 20250416075359 ACCESSION NUMBER: 0000950170-25-054483 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20250414 ITEM INFORMATION: Other Events FILED AS OF DATE: 20250416 DATE AS OF CHANGE: 20250416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Alkermes plc. CENTRAL INDEX KEY: 0001520262 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences EIN: 981007018 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35299 FILM NUMBER: 25841245 BUSINESS ADDRESS: STREET 1: CONNAUGHT HOUSE STREET 2: 1 BURLINGTON ROAD CITY: DUBLIN 4 STATE: L2 ZIP: 00000 BUSINESS PHONE: 00-353-1-772-8000 MAIL ADDRESS: STREET 1: CONNAUGHT HOUSE STREET 2: 1 BURLINGTON ROAD CITY: DUBLIN 4 STATE: L2 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: ANTLER SCIENCE TWO PLC DATE OF NAME CHANGE: 20110804 FORMER COMPANY: FORMER CONFORMED NAME: Antler Science Two Ltd DATE OF NAME CHANGE: 20110509 8-K 1 alks-20250414.htm 8-K 8-K False 0001520262 Alkermes plc. 0001520262 2025-04-14 2025-04-14     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): April 14, 2025 ALKERMES PUBLIC LIMITED COMPANY (Exact name of registrant as specified in its charter)   Ireland   001-35299   98-1007018 (State or other jurisdiction   (Commission   (IRS Employer of incorporation)   File Number)   Identification No.)             Connaught House , 1 Burlington Road Dublin 4 , Ireland D04 C5Y6 (Address of principal executive offices)   Registrant's telephone number, including area code: + 353 - 1-772-8000 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):   ☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)       ☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)       ☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))       ☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))     Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Ordinary shares, $0.01 par value   ALKS   Nasdaq Global Select Market   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).       Emerging growth company ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐         Item 8.01 Other Events. Alkermes plc (the “Company”) is saddened to announce the passing of Iain M. Brown, the Company’s Chief Financial Officer, on April 14, 2025, after a courageous battle with cancer. Mr. Brown had been on medical leave from the Company since February 2024. Mr. Brown was a valuable, trusted and respected leader and had a profound impact on the Company. The Company’s board of directors and management express their deepest gratitude to Mr. Brown for his 22 years of dedicated