Cambridge, MA-based Alkermes is getting full commercial rights to a drug for alcohol dependence after its partner, Frazer, PA-based Cephalon, relinquished its share of the product. Alkermes (NASDAQ: [[ticker:ALKS]]) will receive an $11 million payment from Cephalon to cover estimated losses from commercializing naltrexone for extended release injectable suspension (Vivitrol), while Alkermes will pay Cephalon about $16 million for manufacturing equipment. For fiscal 2009, Alkermes expects the drug to generate $5 million to $8 million in sales.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
View all posts by Luke Timmerman
