Every material Form 8-K Alkermes has filed with the SEC since July 29, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Alkermes reported third-quarter 2026 results on November 3, 2026. Total revenues rose to $480.1 million from $394.2 million a year earlier, but GAAP net income fell to $16.3 million from $82.8 million, and results included $29.8 million of costs related to the Avadel acquisition. The company reiterated its 2026 expectations, which call for total revenues of $1.73 billion to $1.84 billion and a GAAP net loss of $95 million to $115 million.
Q3 2026 total revenues were $480.1 million versus $394.2 million in Q3 2025; diluted EPS was $0.09 versus $0.49.
Q3 2026 Adjusted EBITDA was $120.1 million, compared with $121.5 million in Q3 2025.
Nine-month GAAP net loss was $49.7 million, compared with GAAP net income of $192.3 million in the same period of 2025.
2026 expectations were reiterated, including a GAAP net loss of $95 million to $115 million and Adjusted EBITDA of $370 million to $410 million.
Alkermes plc expanded its Board from ten to eleven directors and appointed Anne C. Whitaker, effective immediately, with a term expiring at the 2027 annual general meeting. The filing says she has not yet been named to any board committee, and her initial director equity award has a target value of $600,000.
Board size increased from 10 to 11 directors; Whitaker appointed effective immediately, with term expiring at the 2027 annual general meeting
Initial new director equity award has an aggregate target value of $600,000, split 50% stock options and 50% restricted stock units
Award expected to be granted in October 2026 and to vest in three equal annual installments starting on the first anniversary of the grant date
Company entered into an indemnification deed and Alkermes, Inc. entered into an indemnification agreement with Whitaker
Alkermes plc entered into Amendment No. 1 to its credit agreement dated February 12, 2026, with JPMorgan Chase Bank as administrative agent. The amendment lowers the interest rate spread by 0.75% on the term loan A facility and by 0.50% on the term loan B facility, among other changes. The filing does not report earnings or other operating results, so its direct effect on shareholders is limited to lower borrowing costs on the company's term loans.
Term loan A outstanding principal: $745,312,500, maturing February 12, 2031
Term loan B outstanding principal: $773,062,500, maturing August 12, 2031
Spread reduced 0.75% on term loan A and 0.50% on term loan B
Amendment dated August 12, 2026, filed as Exhibit 10.1
Alkermes reported second-quarter 2026 revenue of $496.0 million, up from $390.7 million a year earlier, driven by its commercial products and LUMRYZ following the Avadel acquisition. GAAP net income fell to $0.5 million from $87.1 million, and the company widened its 2026 GAAP net loss outlook to ($95) to ($115) million and cut its EBITDA outlook, while keeping revenue and Adjusted EBITDA expectations unchanged. Blair Jackson will become chief executive on August 1, 2026, succeeding Richard Pops, who remains chairman.
Q2 2026 total revenues were $496.0 million versus $390.7 million in Q2 2025; GAAP net income was $0.5 million versus $87.1 million.
Adjusted EBITDA was $139.2 million for the quarter, up from $126.5 million, and six-month GAAP net loss was $66.0 million.
2026 GAAP net loss expectation widened to ($95) to ($115) million from ($70) to ($90) million; EBITDA cut to $75 to $95 million from $105 to $135 million.
2026 total revenue ($1,730 to $1,840 million) and Adjusted EBITDA ($370 to $410 million) expectations were unchanged.
At its May 20, 2026 annual general meeting, Alkermes shareholders elected nine directors to one-year terms, approved amendments to the 2018 Stock Option and Incentive Plan that add 5,900,000 ordinary shares for issuance, and ratified PricewaterhouseCoopers LLP as independent auditor. The plan amendment drew 12,952,836 votes against, and the filing reports no change in executive officers. The larger share reserve gives the company more room to make equity awards, which can dilute existing shareholders.
Shareholders approved amendments to the 2018 Stock Option and Incentive Plan, increasing authorized ordinary shares by 5,900,000 at the May 20, 2026 meeting.
The plan was approved with 128,147,910 votes for, 12,952,836 against, and 69,229 abstentions.
All nine director nominees were elected to one-year terms ending at the 2027 annual general meeting; say-on-pay passed with 139,234,176 votes for and 1,787,311 against.
PricewaterhouseCoopers LLP was ratified as independent auditor with 146,222,286 votes for and 2,812,663 against.
Alkermes reported first-quarter 2026 revenue of $392.9 million, up from $306.5 million a year earlier, after completing its Avadel acquisition in February 2026. The company posted a GAAP net loss of $66.5 million, compared with net income of $22.5 million a year earlier, and improved its 2026 GAAP net loss and EBITDA expectations, while revenue expectations were unchanged. For shareholders, revenue growth is offset by a larger GAAP loss driven by acquisition-related costs and amortization.
Q1 2026 total revenues were $392.9 million, versus $306.5 million in Q1 2025; proprietary net sales were $338.1 million.
GAAP net loss was $66.5 million, or $0.40 per share, versus GAAP net income of $22.5 million in Q1 2025.
Adjusted EBITDA was $80.3 million, versus $45.6 million; the company also recorded $55.8 million of costs related to the Avadel acquisition.
2026 GAAP net loss expectation narrowed to $70 million-$90 million from $115 million-$135 million, and EBITDA expectation rose to $105 million-$135 million from $60 million-$90 million; total revenue expectation remains $1.73 billion-$1.84
Alkermes said CEO Richard Pops will retire effective July 31, 2026, and the board appointed COO Blair Jackson as CEO effective August 1, 2026. Pops will remain non-executive Chairman and serve as Senior Advisor through December 31, 2026, so the filing describes a planned succession rather than a change in financial results.
Richard Pops retires as CEO effective July 31, 2026; Blair Jackson becomes CEO effective August 1, 2026
Pops to serve as non-executive Chairman and Senior Advisor through December 31, 2026
Pops' letter agreement includes a $75,000 monthly cash retainer while a Senior Advisor and a 2026 RSU award with a grant value of $2,687,500
Jackson has been Executive Vice President and Chief Operating Officer since January 2021 and was interim principal financial officer from February 2024 to September 2025
Alkermes reported that 2025 total revenues fell to $1.48 billion from $1.56 billion in 2024, and GAAP net income dropped to $242 million from $367 million. The company projected a 2026 GAAP net loss of $115 million to $135 million, with total revenues of $1.73 billion to $1.84 billion, after completing its Avadel acquisition on February 12, 2026. For shareholders, the results show lower 2025 revenue and profit, and the company expects a loss in 2026.
FY2025 total revenues were $1.48 billion versus $1.56 billion in FY2024; diluted GAAP EPS was $1.43 versus $2.17.
Q4 2025 GAAP net income was $49.3 million versus $146.5 million in Q4 2024.
2026 expectations: total revenues of $1.73 billion to $1.84 billion and GAAP net loss of $115 million to $135 million.
Avadel acquisition closed February 12, 2026, funded with about $775 million of balance sheet cash and term loans totaling $1.525 billion due in 2031.
Alkermes completed its acquisition of Avadel Pharmaceuticals on February 12, 2026, paying $21.00 in cash per Avadel share plus one contingent value right per share worth a potential additional $1.50. The deal was funded with $1.525 billion of new term loans due 2031 and about $750 million of Alkermes cash, and the company says it expects the transaction to be accretive in 2026. Shareholders face higher debt and first-quarter 2026 transaction costs of $40 million, with the full 2026 outlook due February 25, 2026.
Avadel shareholders receive $21.00 cash per share plus one non-transferable CVR per share, with each CVR tied to a potential $1.50 payment on a milestone
Alkermes borrowed the full $1.525 billion under a credit agreement: a $750 million TLA facility maturing February 12, 2031 and a $775 million TLB facility maturing August 12, 2031
Alkermes expects $40 million of transaction-related costs in Q1 2026 and about $180 million of LUMRYZ inventory step-up expensed as cost of goods sold in 2026
The approximately $1.5 billion bridge loan entered November 18, 2025 was terminated, and Avadel shares were halted and will be delisted from Nasdaq
Alkermes furnished a corporate presentation for the J.P. Morgan Healthcare Conference that includes preliminary, unaudited estimated total revenues for 2025. The filing says these figures may change after the company completes its year-end financial statement review, and it gives no prior-year comparison or profit figures.
Presentation states the commercial business generated total revenues above $1.45 billion in 2025.
Revenue figures are preliminary and unaudited and subject to change after the year-end review.
Presentation was made available January 12, 2026, for a J.P. Morgan Healthcare Conference presentation on January 13, 2026.
The planned Avadel acquisition is expected to close in Q1 2026.
Alkermes amended its agreement to acquire Avadel Pharmaceuticals, raising the cash payment from $18.50 to $21.00 per Avadel share, with the $1.50 contingent value right unchanged. To fund the cash payment, Alkermes entered an amended bridge term loan of up to $1.5 billion that carries variable-rate interest and covenants, and Avadel's board said Lundbeck's competing proposal no longer qualifies as superior. Shareholders face a higher acquisition price and more debt, with closing still expected in the first quarter of 2026.
Cash consideration raised from $18.50 to $21.00 per Avadel share; CVR of up to $1.50 per share unchanged
Total consideration up to $22.50 per share, valuing Avadel at up to approximately $2.37 billion if the milestone payment is made
Bridge loan of up to $1.5 billion with JPMorgan Chase, maturing 364 days after funding; interest at Term SOFR plus 3.00% or base rate plus 2.00%
Avadel board determined Lundbeck's proposal no longer a Company Superior Proposal; closing expected in the first quarter of 2026
Alkermes reported third-quarter 2025 total revenues of $394.2 million, up from $378.1 million a year earlier, while GAAP net income fell to $82.8 million, or $0.49 per diluted share, from $92.4 million, or $0.55 per diluted share, in the prior-year quarter. The company raised its 2025 expectations, including total revenues of $1,430 million to $1,490 million and GAAP net income of $230 million to $250 million, and the filing notes the proposed acquisition of Avadel Pharmaceuticals announced the prior week.
Q3 2025 total revenues were $394.2 million vs. $378.1 million in Q3 2024; LYBALVI revenues were $98.2 million, up 32%.
GAAP net income was $82.8 million ($0.49 diluted EPS) vs. $92.4 million ($0.55 diluted EPS) in Q3 2024.
2025 total revenue guidance raised to $1,430 million to $1,490 million from $1,340 million to $1,430 million; GAAP net income guidance raised to $230 million to $250 million from $175 million to $205 million.
Cash, cash equivalents and total investments were $1.14 billion at Sept. 30, 2025, vs. $1.05 billion at June 30, 2025.
Alkermes agreed to acquire Avadel Pharmaceuticals through a court-sanctioned Irish scheme of arrangement, with Avadel becoming a wholly owned subsidiary. Avadel shareholders would receive $18.50 per share in cash plus a contingent value right worth up to an additional $1.50 per share, for total consideration of up to $20.00 per share. The deal is expected to close in the first quarter of 2026, subject to Avadel shareholder approval, a High Court sanction and US antitrust clearance, and Alkermes expects it to be immediately accretive.
Cash consideration of $18.50 per Avadel share, plus a CVR of up to $1.50 per share tied to FDA approval of LUMRYZ for idiopathic hypersomnia in adults by the end of 2028
Equity value of approximately $2.1 billion, a 12% premium to Avadel's October 21, 2025 closing price and a 38% premium to its three-month weighted average price
Alkermes expects to fund the deal with cash on hand and new debt; J.P. Morgan has provided fully committed financing
Expected close in the first quarter of 2026; termination fee payable by Avadel is capped at 1% of total cash consideration
On September 9, 2025, Alkermes subsidiary APIL signed an authorized generic supply agreement with Amneal Pharmaceuticals for a generic version of VIVITROL in the United States. The same filing reports patent infringement lawsuits over LYBALVI filed in August and early September 2025 against Teva, Apotex and MSN, which trigger FDA approval stays under the Hatch-Waxman Act.
Amneal may distribute the authorized generic VIVITROL for a one-year term starting on a third-party ANDA product launch, with rights ending if no launch occurs within 90 days after January 15, 2027, unless an earlier date applies.
APIL supply volume to Amneal is capped at approximately 15% of 2024 VIVITROL unit sales, with supply priced at a premium to APIL's fully burdened manufacturing cost and net profits shared.
Lawsuits were filed on August 15, August 27, September 5 and August 28, 2025, against Teva, Apotex and MSN over LYBALVI patents expiring between 2032 and 2041.
The AG agreement will be filed as an exhibit to the Form 10-Q for the quarter ending September 30, 2025.
Alkermes plc appointed Joshua Reed as Senior Vice President and Chief Financial Officer, effective September 15, 2025, replacing an interim arrangement in which Blair C. Jackson performed the principal financial officer role. Reed brings more than 30 years of financial leadership experience, including prior CFO roles at Omega Therapeutics and Aldeyra Therapeutics, and his compensation includes a $615,000 base salary and a $3.5 million new hire equity grant.
Joshua Reed becomes CFO effective September 15, 2025, and will report to CEO Richard Pops
Initial base salary of $615,000 with a target annual cash incentive of 50% of base salary, pro-rated for 2025
New hire equity grant with an aggregate target value of $3.5 million, about 67% stock options and 33% restricted stock units
Change-in-control severance includes a lump sum of one and one-half times base salary plus average incentive pay
Alkermes reported second quarter 2025 results, with total revenues of $390.7 million, down from $399.1 million a year earlier, and GAAP net income from continuing operations of $87.1 million, down from $94.7 million. Proprietary product net sales rose to $307.2 million from $269.3 million, but the decline in manufacturing and royalty revenues drove the overall drop, and the company reiterated its 2025 financial expectations.
Total revenues were $390.7 million versus $399.1 million in the second quarter of 2024.
GAAP diluted earnings per share from continuing operations were $0.52, compared with $0.55 a year earlier.
Proprietary net sales rose to $307.2 million, with LYBALVI at $84.3 million and ARISTADA at $101.3 million.
The company reiterated 2025 total revenue expectations of $1,340 million to $1,430 million, as set forth in its February 12, 2025 release.
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