Alk­er­mes hikes up 2023 fi­nan­cials by $425M af­ter In­ve­ga li­cense fight win against John­son & John­son

Alk­er­mes is fly­ing high in­to the sec­ond half of 2023 with its up­dat­ed year­ly guid­ance, thanks in part to back roy­al­ties and in­ter­est from an ar­bi­tra­tion case with John­son & John­son’s Janssen.

Alk­er­mes raised its fi­nan­cial ex­pec­ta­tions for the year by about $425 mil­lion af­ter an ar­bi­tral tri­bunal ruled in fa­vor of Alk­er­mes in June in a li­cens­ing fight be­tween the two com­pa­nies. The back roy­al­ties and in­ter­est come from 2022 net sales of the In­ve­ga prod­ucts for schiz­o­phre­nia and 2023 roy­al­ty rev­enues from the same year’s glob­al net sales.

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