Alkermes Gets Alcohol Drug Rights From Cephalon
Luke Timmerman12/1/08
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 Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
