Alkermes plc, a global biopharmaceutical company, has reported its financial results for the fourth quarter and year ended December 31, 2024, and provided its financial expectations for 2025. The company's total revenues for 2024 were $1.56 billion, with net sales of proprietary products increasing by approximately 18% year-over-year.
In 2024, Alkermes generated more than $1 billion in revenue from its proprietary commercial product portfolio and delivered GAAP net income from continuing operations of $372 million, with diluted GAAP earnings per share from continuing operations of $2.20.
Key Financial Highlights: Total revenues for the fourth quarter of 2024 were $430.0 million, compared to $377.5 million in the same period in 2023. Total proprietary net sales for the twelve months ended December 31, 2024, were $1,083.5 million, compared to $920.0 million in 2023. Vivitrol® net sales for 2024 were $457.3 million, up from $400.4 million in 2023. Aristada® net sales for 2024 reached $346.2 million, compared to $327.7 million in 2023. * Lybalvi® net sales for 2024 were $280.0 million, up from $191.9 million in 2023.
Profitability: GAAP net income from continuing operations for the fourth quarter of 2024 was $145.7 million, compared to $160.6 million in the same period in 2023. Non-GAAP net income from continuing operations for the twelve months ended December 31, 2024, was $494.4 million, compared to $396.5 million in 2023.
Financial Expectations for 2025: Alkermes expects total revenues in the range of $1,340 million to $1,430 million for 2025. The company anticipates Vivitrol® net sales of $440 million to $460 million, Aristada® net sales of $335 million to $355 million, and Lybalvi® net sales of $320 million to $340 million.
The company's EBITDA from continuing operations for the twelve months ended December 31, 2024, was approximately $452.4 million, compared to $486.3 million in 2023.
Alkermes has made significant progress in advancing its neuroscience development pipeline, with ongoing phase 2 studies for Alks 2680 in narcolepsy type 1 and type 2, and data expected in the second half of 2025. The company also retired approximately $290 million of debt and ended the year debt-free with approximately $825 million of cash and investments on the balance sheet.
Alkermes' financial and operational performance in 2024 demonstrates its strong position as a pure-play neuroscience company with a diversified portfolio of proprietary commercial products and an advancing development pipeline. Today the company's shares have moved 5.0% to a price of $33.56. For the full picture, make sure to review Alkermes's 8-K report.
