News: Alkermes Receives Notice from Eli Lilly Terminating Inhaled …
Alkermes, Inc. (NASDAQ: ALKS) announced that it has received a
letter terminating the development and license agreement between Eli
Lilly and Company (Lilly) and Alkermes dated April 1, 2001 thereby
terminating the AIR(R) Inhaled Insulin (AIR(R) Insulin) program. The
termination will become effective in 90 days. The termination of the
agreement also results in the termination of the AIR Insulin supply
agreement.
Alkermes is evaluating the impact of the termination of the AIR
Insulin program on its business and will provide further details
following a comprehensive business analysis.
About Alkermes
Alkermes, Inc., a biotechnology company committed to developing
innovative medicines to improve patients’ lives, manufactures
RISPERDAL(R) CONSTA(R) for schizophrenia and developed and
manufactures VIVITROL(R) for alcohol dependence. Alkermes’ robust
pipeline includes extended-release injectable, pulmonary and oral
products for the treatment of prevalent, chronic diseases, such as
central nervous system disorders, addiction and diabetes.
Headquartered in Cambridge, Massachusetts, Alkermes has research and
manufacturing facilities in Massachusetts and Ohio.
Certain statements set forth above may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including but not limited to, statements regarding
the termination of the AIR Insulin clinical program. Although Alkermes
believes that such statements are based on reasonable assumptions
within the bounds of its knowledge, the forward-looking statements are
neither promises nor guarantees, and Alkermes’ business is subject to
significant risk and uncertainties. As such, there can be no assurance
that Alkermes’ actual results will not differ materially from its
expectations. These risks and uncertainties include, among others, the
impact of the termination of the AIR Insulin program on Alkermes’
business. For further information with respect to factors that could
cause the company’s actual results to differ materially from
expectations, reference is made to the reports the company filed with
the Securities and Exchange Commission under the Securities Exchange
Act of 1934, as amended. The company disclaims any intention or
responsibility for updating forward-looking statements made in this
release.
AIR(R) is a registered trademark of Alkermes, Inc; VIVITROL(R) is
a registered trademark of Cephalon, Inc.; and, RISPERDAL(R) CONSTA(R)
is a registered trademark of Johnson & Johnson Corporation.
