S&P MAINTAINS BUY OPINION ON SHARES OF ALKERMES INC (Standard & Poor's) FDA approves ALKS's Vivitrol, a once-monthly injection for preventing relapse in patients with opioid dependence. We see considerable market opportunity in opioid market, as leader has generated sales around $1B. We expect Vivitrol's monthly formulation and non-addictive mechanism of action to provide attractive alternative, and expect drug to be fare better than approved use for alcohol dependence. We also expect FDA to approve diabetes drug Bydureon, for which ALKS would earn 8% sales royalty, on October 22 action date. We raise our NPV-based target price by $2 to $19.