Alkermes Q3 Revenue Rises 21.8% to $480.1 Million as LUMRYZ Adds $89.9 Million

Alkermes reported third-quarter revenue of $480.1 million, up 21.8% from a year earlier as newly acquired narcolepsy drug LUMRYZ added $89.9 million, while GAAP net income fell 80.3% to $16.3 million on acquisition costs, amortization and new interest expense.

Diluted earnings per share were $0.09, down from $0.49, according to the earnings release Alkermes filed with an 8-K on Tuesday. Adjusted EBITDA slipped 1.2% to $120.1 million from $121.5 million. The company reiterated its 2026 financial expectations.

"We delivered solid commercial and financial performance in the third quarter while continuing to advance our portfolio of orexin 2 receptor agonists," President and CEO Blair Jackson said in the release.

LUMRYZ lifts proprietary sales

Total proprietary net sales rose 31.5% to $417.3 million. LUMRYZ, which Alkermes gained through its acquisition of Avadel Pharmaceuticals, which closed Feb. 12, had an estimated 4,100 patients on therapy at quarter-end, the company said.

Among the legacy brands, VIVITROL sales increased 5.4% to $127.6 million and ARISTADA rose 5.9% to $103.9 million. LYBALVI declined 2.3% to $95.9 million. Manufacturing and royalty revenue fell to $62.9 million from $76.8 million.

Why profit fell

Operating income dropped to $36.0 million from $89.1 million. Results included $29.8 million of costs related to the Avadel acquisition, $19.7 million of amortization of acquired intangible assets and $27.6 million of interest expense, compared with none a year earlier. Alkermes carried $1.50 billion of long-term debt, including the current portion, at Sept. 30.

Research and development expense rose 48.2% to $121.1 million as the company expanded its orexin programs, including clinical proof-of-concept data in ADHD and a new phase 2 study in major depressive disorder. Selling, general and administrative expense increased to $208.5 million from $171.8 million.

Cash, cash equivalents and total investments rose to $787.6 million from $691.6 million at June 30.

2026 outlook reiterated

Alkermes reaffirmed the 2026 expectations it set on July 28, according to an investor presentation filed with the 8-K:

• Total revenue: $1.73 billion to $1.84 billion
• Adjusted EBITDA: $370 million to $410 million
• GAAP net loss: $95 million to $115 million
• LUMRYZ net sales: $315 million to $335 million for Feb. 12 through Dec. 31
• VIVITROL net sales: $460 million to $480 million

Through nine months, revenue rose to $1.37 billion from $1.09 billion, and the company posted a GAAP net loss of $49.7 million versus net income of $192.3 million a year earlier.

By the numbers

• Revenue: $480.1 million, up 21.8%
• Proprietary net sales: $417.3 million, up 31.5%
• GAAP net income: $16.3 million, down 80.3%
• Diluted EPS: $0.09, versus $0.49
• Adjusted EBITDA: $120.1 million, down 1.2%

Sources

1. Alkermes Form 8-K with third-quarter 2026 earnings release and investor presentation, filed Nov. 3, 2026 (accession 0001193125-26-444381)

This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.

Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.