Alkermes’ (ALKS) product portfolio as well as pipeline has been strengthened following its purchase of Elan Corporation’s (ELN) Elan Drug Technologies unit. The company primarily focuses on developing therapies to treat disorders such as addiction, schizophrenia and depression, which affect the central nervous system.
The key marketed products at Alkermes include Risperdal Consta (schizophrenia and bipolar disorder), Xeplion (schizophrenia), Vivitrol (opioid and alcohol dependence), Ampyra/Fampyra (improving walking ability in multiple sclerosis patients) and Bydureon (type II diabetes).
Alkermes appointed Dr. Serge Stankovic as a senior Vice President of clinical development and medical affairs to manage the development of its expanded pipeline more efficiently. The management team at Alkermes now has another new addition in the form of Peter Norman. Norman has been recruited as the Vice President of government affairs and policy. Both Norman and Stankovic, with their vast experience, are expected to help Alkermes reach greater heights.
We are pleased with the company’s efforts to develop its pipeline. Interesting candidates include aripiprazole lauroxil for treating schizophrenia, ALKS 5461 (a combination of ALKS 33 and buprenorphine) for major depressive disorder, ALKS 3831 (schizophrenia) and a three-month formulation of Invega sustenna.
Alkermes is also advancing the development of the early-stage candidates in its pipeline. The appointment of Stankovic, who has donned many important roles pertaining to research and development in his illustrious career, is expected to be beneficial to Alkermes’ pipeline development efforts. Stankovic was associated with companies like Teva Pharmaceutical (TEVA) previously.
Alkermes currently carries a Zacks Rank #2 (Buy). Akorn, Inc. (AKRX) is another Zacks #2 Ranked stock.