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Alkermes Gets Alcohol Drug Rights From Cephalon

Cambridge, MA-based Alkermes is getting full commercial rights to a drug for alcohol dependence after its partner, Frazer, PA-based Cephalon, relinquished its share of the product. Alkermes (NASDAQ: ALKS) will receive an $11 million payment from Cephalon to cover estimated losses from commercializing naltrexone for extended release injectable suspension (Vivitrol), while Alkermes will pay Cephalon about $16 million for manufacturing equipment. For fiscal 2009, Alkermes expects the drug to generate $5 million to $8 million in sales.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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