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Will Alkermes' (ALKS) Proprietary Drugs Aid Amid Competition?
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Alkermes plc (ALKS - Free Report) has made steady progress with its portfolio of proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia) and Lybalvi (schizophrenia and bipolar I disorder) that are witnessing a steady uptake and driving growth.
The continued growth in the alcohol-dependence treatment market has driven new patients toward Vivitrol, while Aristada sales have been driven by underlying demand in recent quarters.
Lybalvi (olanzapine and samidorphan), which is approved for the treatment of adults with schizophrenia and adults who have bipolar I disorder, has witnessed strong sales uptake so far and has exceeded management’s expectations.
Alkermes’ set of proprietary products has generated combined sales worth $920 million in 2023, reflecting an increase of 18.3% on a year-over-year basis.
Shares of Alkermes have lost 14% year to date compared with the industry’s 11% decline.
Image Source: Zacks Investment Research
Earlier this month, Alkermes announced positive top-line data from a phase Ib study evaluating its novel, investigational, oral orexin 2 receptor (OX2R) agonist, ALKS 2680, as a once-daily treatment for narcolepsy.
The phase Ib narcolepsy type 2 (NT2) and idiopathic hypersomnia (IH) cohorts investigated the safety, tolerability, pharmacokinetics and pharmacodynamics of various doses of ALKS 2680 (5 mg, 12 mg and 25 mg).
Data from the study showed that treatment with ALKS 2680 led to clinically meaningful and statistically significant improvements in mean sleep latency on the Maintenance of Wakefulness Test (MWT) versus placebo from baseline at all doses tested.
In January 2024, Alkermes completed the narcolepsy type 1 cohort in the phase Ib study evaluating ALKS 2680 for the treatment of narcolepsy.
The steady performance of proprietary products, along with encouraging pipeline progress, is likely to maintain the momentum for ALKS in 2024.
Alkermes completed the separation of its oncology business into a new, publicly traded company called Mural Oncology plc in November 2023. The separation will allow the company to focus solely on developing therapies for neurological conditions and improving profitability.
However, competition looms large on Alkermes, as many companies have developed medicines for the treatment of schizophrenia and bipolar I disorder. Several other companies are also actively looking to develop treatments for schizophrenia and bipolar I disorder. A potential approval for any of these treatments is likely to pose a threat to Alkermes in the days ahead.
In the past 60 days, estimates for ADMA Biologics’ 2024 earnings per share have improved from 22 cents to 30 cents. Year to date, shares of ADMA have rallied 38.7%.
ADMA’s earnings beat estimates in three of the trailing four quarters and met the same once, the average surprise being 85.00%.
In the past 60 days, estimates for Ligand’s 2024 earnings per share have improved from $4.42 to $4.56. Year to date, shares of LGND have gained 1.5%.
Earnings of LGND beat estimates in each of the trailing four quarters, the average surprise being 84.81%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have improved from $4.12 to $4.43. Year to date, shares of ANIP have jumped 18.8%.
Earnings of ANIP beat estimates in each of the trailing four quarters, the average surprise being 109.06%.
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Will Alkermes' (ALKS) Proprietary Drugs Aid Amid Competition?
Alkermes plc (ALKS - Free Report) has made steady progress with its portfolio of proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia) and Lybalvi (schizophrenia and bipolar I disorder) that are witnessing a steady uptake and driving growth.
The continued growth in the alcohol-dependence treatment market has driven new patients toward Vivitrol, while Aristada sales have been driven by underlying demand in recent quarters.
Lybalvi (olanzapine and samidorphan), which is approved for the treatment of adults with schizophrenia and adults who have bipolar I disorder, has witnessed strong sales uptake so far and has exceeded management’s expectations.
Alkermes’ set of proprietary products has generated combined sales worth $920 million in 2023, reflecting an increase of 18.3% on a year-over-year basis.
Shares of Alkermes have lost 14% year to date compared with the industry’s 11% decline.
Image Source: Zacks Investment Research
Earlier this month, Alkermes announced positive top-line data from a phase Ib study evaluating its novel, investigational, oral orexin 2 receptor (OX2R) agonist, ALKS 2680, as a once-daily treatment for narcolepsy.
The phase Ib narcolepsy type 2 (NT2) and idiopathic hypersomnia (IH) cohorts investigated the safety, tolerability, pharmacokinetics and pharmacodynamics of various doses of ALKS 2680 (5 mg, 12 mg and 25 mg).
Data from the study showed that treatment with ALKS 2680 led to clinically meaningful and statistically significant improvements in mean sleep latency on the Maintenance of Wakefulness Test (MWT) versus placebo from baseline at all doses tested.
In January 2024, Alkermes completed the narcolepsy type 1 cohort in the phase Ib study evaluating ALKS 2680 for the treatment of narcolepsy.
The steady performance of proprietary products, along with encouraging pipeline progress, is likely to maintain the momentum for ALKS in 2024.
Alkermes completed the separation of its oncology business into a new, publicly traded company called Mural Oncology plc in November 2023. The separation will allow the company to focus solely on developing therapies for neurological conditions and improving profitability.
However, competition looms large on Alkermes, as many companies have developed medicines for the treatment of schizophrenia and bipolar I disorder. Several other companies are also actively looking to develop treatments for schizophrenia and bipolar I disorder. A potential approval for any of these treatments is likely to pose a threat to Alkermes in the days ahead.
Alkermes plc Price and Consensus
Alkermes plc price-consensus-chart | Alkermes plc Quote
Zacks Rank & Stocks to Consider
Alkermes currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are ADMA Biologics, Inc. (ADMA - Free Report) , Ligand Pharmaceuticals Incorporated (LGND - Free Report) and ANI Pharmaceuticals, Inc. (ANIP - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for ADMA Biologics’ 2024 earnings per share have improved from 22 cents to 30 cents. Year to date, shares of ADMA have rallied 38.7%.
ADMA’s earnings beat estimates in three of the trailing four quarters and met the same once, the average surprise being 85.00%.
In the past 60 days, estimates for Ligand’s 2024 earnings per share have improved from $4.42 to $4.56. Year to date, shares of LGND have gained 1.5%.
Earnings of LGND beat estimates in each of the trailing four quarters, the average surprise being 84.81%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have improved from $4.12 to $4.43. Year to date, shares of ANIP have jumped 18.8%.
Earnings of ANIP beat estimates in each of the trailing four quarters, the average surprise being 109.06%.