Alkermes PLC (NASDAQ: ALKS) has appointed Joshua Reed as its new Chief Financial Officer, effective Monday, Sept. 15, 2025. Reed brings over 30 years of financial leadership experience in the biotechnology and pharmaceutical sectors, having previously served as CFO of Omega Therapeutics and Aldeyra Therapeutics. He also spent more than a decade at Bristol Myers Squibb, culminating in his role as Vice President and Head of Finance Operations for the U.S. and Puerto Rico.
Alkermes' portfolio of proprietary commercial products includes treatments for alcohol dependence, opioid dependence, schizophrenia, and bipolar I disorder. The company also has a pipeline of clinical and preclinical candidates in development for neurological disorders, such as narcolepsy and idiopathic hypersomnia.
In the last quarter, the company reported a 12% increase in revenue, reaching $309 million, driven by strong sales of its alcohol dependence and schizophrenia treatments. Additionally, Alkermes saw a 5% decrease in operating expenses, resulting in a 20% increase in net income compared to the same period last year.
Reed's appointment comes at an exciting time for Alkermes as it continues to focus on driving strong performance across its commercial business, advancing its pipeline, and delivering long-term shareholder value. With his extensive experience and strategic insight, Reed is expected to have a positive impact on the organization's financial acumen and dedication to excellence. Following these announcements, the company's shares moved 2.9%, and are now trading at a price of $27.71. Check out the company's full 8-K submission here.
