Alkermes (ALKS) 10-Q 31 Oct 13 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2013	Oct. 28, 2013
Document and Entity Information
Entity Registrant Name	Alkermes plc.
Entity Central Index Key	1520262
Document Type	10-Q
Document Period End Date	30-Sep-13
Amendment Flag	FALSE
Current Fiscal Year End Date	-28
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		136,762,382
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:
Cash and cash equivalents	$173,505	$96,961
Investments - short-term	165,921	124,391
Receivables	120,448	124,620
Inventory	40,708	43,483
Prepaid expenses and other current assets	22,998	19,133
Total current assets	523,580	408,588
PROPERTY, PLANT AND EQUIPMENT, NET	274,377	288,435
INTANGIBLE ASSETS - NET	550,421	575,993
GOODWILL	92,740	92,740
INVESTMENTS - LONG-TERM	55,815	82,827
OTHER ASSETS	15,504	21,708
TOTAL ASSETS	1,512,437	1,470,291
CURRENT LIABILITIES:
Accounts payable and accrued expenses	64,282	76,910
Long-term debt - current	6,750	6,750
Deferred revenue - current	2,685	2,270
Total current liabilities	73,717	85,930
LONG-TERM DEBT	359,122	362,258
OTHER LONG-TERM LIABILITIES	17,486	23,260
DEFERRED TAX LIABILITIES, NET - LONG-TERM	36,014	37,603
DEFERRED REVENUE - LONG-TERM	9,121	8,866
Total liabilities	495,460	517,917
COMMITMENTS AND CONTINGENCIES (Note 15)
SHAREHOLDERS' EQUITY:
Preferred stock, par value, $0.01 per share; 50,000,000 shares authorized; zero issued and outstanding at September 30, 2013 and March 31, 2013, respectively
Ordinary shares, par value, $0.01 per share; 450,000,000 shares authorized; 137,242,939 and 134,065,107 shares issued; 136,646,516 and 133,751,610 shares outstanding at September 30, 2013 and March 31, 2013, respectively	1,369	1,338
Treasury stock, at cost (596,423 and 313,497 shares at September 30, 2013 and March 31, 2013, respectively)	-14,404	-5,380
Additional paid-in capital	1,524,783	1,458,857
Accumulated other comprehensive income (loss)	5,580	-2,518
Accumulated deficit	-500,351	-499,923
Total shareholders' equity	1,016,977	952,374
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$1,512,437	$1,470,291

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2013	Mar. 31, 2013
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	137,242,939	134,065,107
Common stock, shares outstanding	136,646,516	133,751,610
Treasury stock, shares	596,423	313,497

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUES:
Manufacturing and royalty revenues	$118,571	$107,327	$238,359	$245,707
Product sales, net	19,227	15,192	36,606	27,564
Research and development revenue	2,004	1,459	3,468	2,946
Total revenues	139,802	123,978	278,433	276,217
EXPENSES:
Cost of goods manufactured and sold	45,423	41,491	91,414	83,561
Research and development	45,947	35,088	79,409	72,894
Selling, general and administrative	39,454	31,428	72,387	61,212
Amortization of acquired intangible assets	12,856	10,547	25,572	20,981
Total expenses	143,680	118,554	268,782	238,648
OPERATING (LOSS) INCOME	-3,878	5,424	9,651	37,569
OTHER (EXPENSE), NET:
Interest income	295	216	456	515
Interest expense	-3,477	-22,648	-6,945	-32,818
Other (expense) income, net	-469	723	-639	1,646
Total other (expense), net	-3,651	-21,709	-7,128	-30,657
(LOSS) INCOME BEFORE INCOME TAXES	-7,529	-16,285	2,523	6,912
INCOME TAX PROVISION	233	422	2,951	1,186
NET (LOSS) INCOME	-7,762	-16,707	-428	5,726
(LOSS) EARNINGS PER ORDINARY SHARE:
Basic (in dollars per share)	($0.06)	($0.13)	$0	$0.04
Diluted (in dollars per share)	($0.06)	($0.13)	$0	$0.04
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES OUTSTANDING:
Basic (in shares)	136,106	131,067	135,358	130,753
Diluted (in shares)	136,106	131,067	135,358	135,589
COMPREHENSIVE INCOME (LOSS):
Net (loss) income	-7,762	-16,707	-428	5,726
Unrealized gains (losses) on marketable securities	8,506	-463	8,099	-604
Unrealized (losses) gains on derivative contracts		594		522
COMPREHENSIVE INCOME (LOSS)	$744	($16,576)	$7,671	$5,644

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	($428)	$5,726
Adjustments to reconcile net (loss) income to cash flows from operating activities:
Depreciation and amortization	47,401	36,829
Share-based compensation expense	23,018	18,609
Excess tax benefit from share-based compensation	-8,456	-387
Deferred income taxes	-1,516	-944
Loss on debt refinancing transaction		12,129
Prepayment penalty in connection with debt refinancing		-2,800
Principal payments on long-term debt attributable to original issue discount		-2,657
Other non-cash charges	1,773	4,385
Changes in assets and liabilities:
Receivables	4,172	-5,617
Inventory, prepaid expenses and other assets	-3,706	-3,111
Accounts payable and accrued expenses	-7,727	-17,422
Deferred revenue	670	-2,060
Other long-term liabilities	-1,086	2,368
Cash flows provided by operating activities	54,115	45,048
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions of property, plant and equipment	-9,198	-11,206
Proceeds from the sale of equipment	6	17
Investment in Civitas	-1,191
Purchases of investments	-54,088	-99,218
Sales and maturities of investments	56,400	185,392
Cash flows (used in) provided by investing activities	-8,071	74,985
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of ordinary shares under share-based compensation arrangements	33,943	9,731
Excess tax benefit from share-based compensation	8,456	387
Proceeds from the issuance of long-term debt		368,557
Employee taxes paid related to net share settlement of equity awards	-8,524	-3,323
Principal payments of long-term debt	-3,375	-446,568
Cash flows provided by (used in) financing activities	30,500	-71,216
NET INCREASE IN CASH AND CASH EQUIVALENTS	76,544	48,817
CASH AND CASH EQUIVALENTS - Beginning of period	96,961	83,601
CASH AND CASH EQUIVALENTS - End of period	173,505	132,418
Non-cash investing and financing activities:
Purchased capital expenditures included in accounts payable and accrued expenses	$1,184	$834

THE_COMPANY

THE COMPANY	6 Months Ended
	Sep. 30, 2013
THE COMPANY
THE COMPANY	1. THE COMPANY
	Alkermes plc is a fully integrated, global biopharmaceutical company that applies its scientific expertise and proprietary technologies to develop innovative medicines that improve patient outcomes. The Company has a diversified portfolio of more than 20 commercial drug products and a substantial clinical pipeline of product candidates that address CNS disorders such as addiction, schizophrenia and depression. Headquartered in Dublin, Ireland, Alkermes has an R&D center in Waltham, Massachusetts; R&D and manufacturing facilities in Athlone, Ireland; and manufacturing facilities in Gainesville, Georgia and Wilmington, Ohio.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying condensed consolidated financial statements of the Company for the three and six months ended September 30, 2013 and 2012 are unaudited and have been prepared on a basis substantially consistent with the audited financial statements for the year ended March 31, 2013. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”) (commonly referred to as “GAAP”). In the opinion of management, the condensed consolidated financial statements include all adjustments, which are of a normal recurring nature, that are necessary to present fairly the results of operations for the reported periods.
	These financial statements should be read in conjunction with the financial statements and notes thereto of Alkermes, which are contained in the Company’s Annual Report, which has been filed with the U.S. Securities and Exchange Commission (“SEC”). The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for any other interim period or for a full fiscal year.
	In May 2013, the Company announced that it was changing its fiscal year-end from March 31 to December 31, effective within the year-ended December 31, 2013.  The Company will file the report for the transition period ending December 31, 2013 in its Annual Report on Form 10-K.
	Principles of Consolidation
	The condensed consolidated financial statements include the accounts of Alkermes plc and its wholly owned subsidiaries as disclosed in Note 2: Summary of Significant Accounting Policies within Part II Items of our annual report.  Intercompany accounts and transactions have been eliminated.
	Use of Estimates
	The preparation of the Company’s condensed consolidated financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates and judgments and methodologies, including those related to revenue recognition and related allowances, its collaborative relationships, clinical trial expenses, the valuation of inventory, impairment and amortization of intangibles and long-lived assets, share-based compensation, income taxes including the valuation allowance for deferred tax assets, valuation of investments and derivative instruments, litigation and restructuring charges. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions.
	Segment Information
	The Company operates as one business segment, which is the business of developing, manufacturing and commercializing medicines designed to yield better therapeutic outcomes and improve the lives of patients with serious diseases. The Company’s chief decision maker, the Chairman and Chief Executive Officer, reviews the Company’s operating results on an aggregate basis and manages the Company’s operations as a single operating unit.
	New Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard-setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Sep. 30, 2013
INVESTMENTS
INVESTMENTS	3. INVESTMENTS
	Investments consisted of the following:
				Gross Unrealized
						Losses
		Amortized				Less than			Greater than			Estimated
		Cost		Gains		One Year			One Year			Fair Value
		(In thousands)
	September 30, 2013
	Short-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	$	132,502	$	84	$	(15	)	$	—		$	132,571
	Corporate debt securities	18,641		44		—			—			18,685
	International government agency debt securities	13,455		11		(2		)	—			13,464
		164,598		139		(17		)	—			164,720
	Money market funds	1,201		—		—			—			1,201
	Total short-term investments	165,799		139		(17		)	—			165,921
	Long-term investments:
	Available-for-sale securities:
	Corporate debt securities	17,207		—		(31		)	(145		)	17,031
	U.S. government and agency debt securities	14,799		—		(26		)	(11		)	14,762
	Equity securities	8,732		8,051		—			—			16,783
	International government agency debt securities	6,043		—		(4		)	—			6,039
		46,781		8,051		(61		)	(156		)	54,615
	Held-to-maturity securities:
	Certificates of deposit	1,200		—		—			—			1,200
	Total long-term investments	47,981		8,051		(61		)	(156		)	55,815
	Total investments	$	213,780	$	8,190	$	(78	)	$	(156	)	$	221,736
	March 31, 2013
	Short-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	$	102,093	$	29	$	(1	)	$	—		$	102,121
	Corporate debt securities	10,946		27		—			—			10,973
	International government agency debt securities	10,089		8		(1		)	—			10,096
		123,128		64		(2		)	—			123,190
	Money market funds	1,201		—		—			—			1,201
	Total short-term investments	124,329		64		(2		)	—			124,391
	Long-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	60,047		—		(17		)	—			60,030
	Corporate debt securities	18,725		—		(26		)	(162		)	18,537
	International government agency debt securities	3,060		—		—			—			3,060
		81,832		—		(43		)	(162		)	81,627
	Held-to-maturity securities:
	Certificates of deposit	1,200		—		—			—			1,200
	Total long-term investments	83,032		—		(43		)	(162		)	82,827
	Total investments	$	207,361	$	64	$	(45	)	$	(162	)	$	207,218
	The proceeds from the sales and maturities of marketable securities, which were primarily reinvested and resulted in realized gains and losses, were as follows:
		Six Months Ended
		September 30,
	(In thousands)	2013		2012
	Proceeds from the sales and maturities of marketable securities	$	56,400	$	185,392
	Realized gains	$	15	$	273
	Realized losses	$	—	$	—
	The Company’s available-for-sale and held-to-maturity securities at September 30, 2013 had contractual maturities in the following periods:
		Available-for-sale				Held-to-maturity
		Amortized		Estimated		Amortized			Estimated
	(In thousands)	Cost		Fair Value		Cost			Fair Value
	Within 1 year	$	86,899	$	86,938	$	1,200		$	1,200
	After 1 year through 5 years	115,748		115,613		—			—
	Total	$	202,647	$	202,551	$	1,200		$	1,200
	At September 30, 2013, the Company believed that the unrealized losses on its available-for-sale investments were temporary. The investments with unrealized losses consisted primarily of U.S. government and agency debt securities and corporate debt securities. In making the determination that the decline in fair value of these securities was temporary, the Company considered various factors, including but not limited to: the length of time each security was in an unrealized loss position; the extent to which fair value was less than cost; financial condition and near-term prospects of the issuers; and the Company’s intent not to sell these securities and the assessment that it is more likely than not that the Company would not be required to sell these securities before the recovery of their amortized cost basis.
	The Company’s equity securities at September 30, 2013 include common stock and warrants in Acceleron Pharma, Inc. (“Acceleron”), which the Company accounts for as an available-for-sale marketable security. During the three months ended September 30, 2013, Acceleron announced their closing of their initial public offering (“IPO”) and their registration statement was declared effective by the SEC on September 18, 2013. Prior to the IPO, the Company’s investment in Acceleron, consisting of preferred stock and warrants, was accounted for under the cost method as Acceleron, until September 2013, was a privately-held company over which the Company did not exercise significant influence. In connection with the IPO, the Company’s investment in preferred stock was converted to common stock.
	The Company’s investment in Civitas Therapeutics, Inc. (“Civitas”) was $2.6 million and $0.8 million at September 30, 2013 and March 31, 2013, respectively, which was recorded within “Other assets” in the accompanying condensed consolidated balance sheets. In September 2013, the Company invested an additional $1.2 million and converted a promissory note in the amount of $1.2 million into 844,415 shares of Civitas Series B preferred stock. The Company is accounting for its investment in Civitas Series B preferred stock under the cost method of accounting as the Series B preferred stock is not considered to be “in-substance” common stock. The Company is accounting for its investment in Civitas’ Series A preferred stock under the equity method as the Series A preferred stock is considered to be “in-substance” common stock, the Company had approximate 11% ownership position in Civitas, has a seat on the board of directors and believes it may be able to exercise significant influence over the operating and financial policies of Civitas. During the six months ended September 30, 2013 and 2012, the Company recorded a reduction in its investment in Civitas of $0.8 million and $0.6 million, respectively, which represented the Company’s proportionate share of Civitas’ net losses for these periods. The Company will continue to record its proportionate share of Civitas’ net income or loss in future periods.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Sep. 30, 2013
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	4. FAIR VALUE MEASUREMENTS
	The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:
		September 30,
	(In thousands)	2013			Level 1		Level 2			Level 3
	Assets:
	Cash equivalents	$	1,201		$	1,201	$	—		$	—
	U.S. government and agency debt securities	147,332			63,420		83,912			—
	Corporate debt securities	35,716			—		35,716			—
	International government agency debt securities	19,503			—		19,503			—
	Equity securities	16,783			15,976		—			807
	Total	$	220,535		$	80,597	$	139,131		$	807
	Liabilities:
	Interest rate swap contract	$	(366	)	$	—	$	(366	)	$	—
	Total	$	(366	)	$	—	$	(366	)	$	—
		March 31,
		2013			Level 1		Level 2			Level 3
	Assets:
	Cash equivalents	$	1,201		$	1,201	$	—		$	—
	U.S. government and agency debt securities	162,151			75,025		87,126			—
	Corporate debt securities	29,510			—		29,510			—
	International government agency debt securities	13,156			—		13,156			—
	Total	$	206,018		$	76,226	$	129,792		$	—
	Liabilities:
	Interest rate swap contract	$	(541	)	$	—	$	(541	)	$	—
	Total	$	(541	)	$	—	$	(541	)	$	—
	The Company transfers its financial assets and liabilities, measured at fair value on a recurring basis, between the fair value hierarchies at the end of each reporting period.
	There were no transfers of any securities from Level 1 to Level 2 or from Level 2 to Level 1 during the six months ended September 30, 2013.  The following table is a rollforward of the fair value of the Company’s investments whose fair value was determined using Level 3 inputs at September 30, 2013:
	(In thousands)	Fair Value
	Balance, April 1, 2013	$	—
	Conversion of investment from cost method to available-for-sale	807
	Balance, September 30, 2013	$	807
	During the six months ended September 30, 2013, our Level 3 investments consisted of warrants to purchase the common stock of Acceleron. The Company used a Black-Scholes model to determine the fair value of these warrants. The assumptions used in the Black-Scholes model included estimates for expected life, interest rates and for the volatility of Acceleron’s common stock.
	A third-party pricing service was used to determine the estimated fair value of the Company’s debt securities. The third-party pricing service develops its estimates of fair value through a proprietary model using variables including reportable trades and last trade date, bids and offers, trading frequency, benchmark yields, credit spreads and other industry and economic events. The Company validates the prices provided by its third-party pricing service by reviewing their pricing methods and matrices, obtaining market values from other pricing sources, analyzing pricing data in certain instances and confirming the activity in the relevant markets. After completing its validation procedures, the Company did not adjust or override any fair value measurements provided by its pricing service at September 30, 2013.
	The Company’s investments in U.S. government and agency debt securities, international government agency debt securities and corporate debt securities classified as Level 2 were initially valued at the transaction price and subsequently valued, at the end of each reporting period, utilizing market-observable data. The market-observable data include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events. The Company validates the prices developed using the market-observable data by obtaining market values from other pricing sources, analyzing pricing data in certain instances and confirming that the relevant markets are active.
	The Company entered into an interest rate swap agreement in September 2011 and interest rate cap agreement in December 2011. These agreements are described in greater detail in Note 11, Derivative Instruments. The fair value of the Company’s interest rate cap and interest rate swap agreements were based on an income approach, which excludes accrued interest, and takes into consideration then-current interest rates and the then-current creditworthiness of the Company or the counterparty, as applicable.
	The carrying amounts reflected in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, other current assets, accounts payable and accrued expenses approximate fair value due to their short-term nature. The fair value of the remaining financial instruments not currently recognized at fair value on the Company’s consolidated balance sheets consists of the $300.0 million, seven-year term loan bearing interest at LIBOR plus 2.75% with a LIBOR floor of 0.75% (“Term Loan B-1”) and the $75.0 million, four-year term loan bearing interest at LIBOR plus 2.75%, with no LIBOR floor (“Term Loan B-2”). The estimated fair value of these term loans, which was based on quoted market price indications (Level 2 in the fair value hierarchy) and may not be representative of actual values that could have been or will be realized in the future at September 30, 2013, was as follows:
		Carrying			Estimated
	(In thousands)	Value			Fair Value
	Term Loan B-1	$	294,743		$	296,629
	Term Loan B-2	$	71,129		$	71,606

INVENTORY

INVENTORY	6 Months Ended
	Sep. 30, 2013
INVENTORY
INVENTORY	5. INVENTORY
	Inventory is stated at the lower of cost or market value. Cost is determined using the first-in, first-out method. Inventory consisted of the following:
		September 30,		March 31,
	(In thousands)	2013		2013
	Raw materials	$	14,771	$	13,506
	Work in process	13,059		13,842
	Finished goods(1)	12,878		16,135
	Total inventory	$	40,708	$	43,483
	(1)         At September 30, 2013 and March 31, 2013, the Company had $1.8 million and $0.6 million, respectively, of VIVITROL finished goods inventory located at its third-party warehouse and shipping service provider.

PROPERTY_PLANT_AND_EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Sep. 30, 2013
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	6. PROPERTY, PLANT AND EQUIPMENT
	Property, plant and equipment consisted of the following:
		September 30,			March 31,
	(In thousands)	2013			2013
	Land	$	8,457		$	8,357
	Building and improvements	147,836			141,092
	Furniture, fixture and equipment	216,025			197,743
	Leasehold improvements	23,960			24,137
	Construction in progress	21,713			39,399
	Subtotal	417,991			410,728
	Less: accumulated depreciation	(143,614		)	(122,293		)
	Total property, plant and equipment, net	$	274,377		$	288,435

GOODWILL_AND_INTANGIBLE_ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Sep. 30, 2013
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	7. GOODWILL AND INTANGIBLE ASSETS
	Goodwill and intangible assets consisted of the following:
			September 30, 2013
		Weighted	Gross		Accumulated			Net
	(In thousands)	Amortizable Life	Carrying Amount		Amortization			Carrying Amount
	Goodwill		$	92,740	$	—		$	92,740
	Finite-lived intangible assets:
	Collaboration agreements	12	$	499,700	$	(70,447	)	$	429,253
	NanoCrystal technology	13	74,600		(7,458		)	67,142
	OCR technology	12	66,300		(12,274		)	54,026
	Total		$	640,600	$	(90,179	)	$	550,421
	The Company recorded $25.6 million of amortization expense related to its finite-lived intangible assets during the six months ended September 30, 2013. Based on the Company’s most recent analysis, amortization of intangible assets included within its condensed consolidated balance sheet at September 30, 2013 is expected to be approximately $40.0 million for the nine months ending December 31, 2013, and $60.0 million, $65.0 million, $70.0 million and $70.0 million in the years ending December 31, 2014 through 2017, respectively.  Although the Company believes such available information and assumptions are reasonable, given the inherent risks and uncertainties underlying its expectations regarding such future revenues, there is the potential for the Company’s actual results to vary significantly from such expectations. If revenues are projected to change, the related amortization of the intangible assets will change in proportion to the change in revenues.

ACCOUNTS_PAYABLE_AND_ACCRUED_E

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	6 Months Ended
	Sep. 30, 2013
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	8. ACCOUNTS PAYABLE AND ACCRUED EXPENSES
	Accounts payable and accrued expenses consisted of the following:
		September 30,		March 31,
	(In thousands)	2013		2013
	Accounts payable	$	12,124	$	18,282
	Accrued compensation	17,727		30,432
	Accrued interest	934		970
	Accrued other	33,497		27,226
	Total accounts payable and accrued expenses	$	64,282	$	76,910
	During the three months ended June 30, 2013, the Company recorded a $1.0 million out-of-period adjustment to correct an over-accrued liability from the prior year. The Company believes the impact of this out-of-period adjustment is immaterial to both the previously issued and current period financial statements.

RESTRUCTURING

RESTRUCTURING	6 Months Ended
	Sep. 30, 2013
RESTRUCTURING
RESTRUCTURING	9. RESTRUCTURING
	On April 4, 2013, the Company approved a restructuring plan at its Athlone, Ireland manufacturing facility consistent with the evolution of the Company’s product portfolio and designed to improve operational performance for the future. The restructuring plan calls for the Company to terminate manufacturing services for certain older products that are expected to no longer be economically practicable to produce due to decreasing demand from its customers resulting from generic competition. The Company expects to continue to generate revenues from the manufacturing of these products during the nine months ending December 31, 2013 and, for certain of these products, into the year ending December 31, 2015.
	As a result of the termination of these services, it was contemplated that the Company will also implement a corresponding reduction in headcount of up to 130 employees. In connection with this restructuring plan, during the year ended March 31, 2013, the Company recorded restructuring charges of $12.3 million, which consisted of severance and outplacement services. At September 30, 2013, the Company had paid in cash $1.2 million in connection with this restructuring plan and recorded an adjustment to the restructuring accrual due to changes in foreign currency of $0.3 million. Restructuring activity during the six months ended September 30, 2013 was as follows:
		Severance and
	(In thousands)	Outplacement Services
	Balance, April 1, 2013	$	12,300
	Payments	(1,239		)
	Adjustments	335
	Balance, September 30, 2013	$	11,396
	At September 30, 2013 and March 31, 2013, $3.1 million and none, respectively, of the restructuring accrual was included within “Accounts payable and accrued expenses,” and $8.3 million and $12.3 million, respectively, was included within “Other long-term liabilities” in the accompanying condensed consolidated balance sheets.

LONGTERM_DEBT

LONG-TERM DEBT	6 Months Ended
	Sep. 30, 2013
LONG-TERM DEBT
LONG-TERM DEBT	10. LONG-TERM DEBT
	Long-term debt consisted of the following:
		September 30,			March 31,
	(In thousands)	2013			2013
	Term Loan B-1, due September 25, 2019	$	294,743		$	296,029
	Term Loan B-2, due September 25, 2016	71,129			72,979
	Total	365,872			369,008
	Less: current portion	(6,750		)	(6,750		)
	Long-term debt	$	359,122		$	362,258

DERIVATIVE_INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Sep. 30, 2013
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS	11. DERIVATIVE INSTRUMENTS
	In December 2011, the Company entered into an interest rate cap agreement with Morgan Stanley Capital Services LLC (“MSCS”) at a cost of $0.1 million to mitigate the impact of fluctuations in the three-month LIBOR rate at which the Company’s long-term debt bears interest. The interest rate cap agreement expires in December 2013, has a notional value of $160.0 million and is not designated as a hedging instrument. The Company recorded an immaterial amount of loss as “Other (expense) income, net” in the accompanying condensed consolidated statements of operations and comprehensive income (loss) due to the decrease in value of this contract during the six months ended September 30, 2013. At September 30, 2013 and March 31, 2013, this contract had an immaterial balance included within “Other assets” in the accompanying condensed consolidated balance sheets.
	In September 2011, the Company entered into an interest rate swap agreement with MSCS to mitigate the impact of fluctuations in the three-month LIBOR rate at which the Company’s long-term debt bear interest. The interest rate swap agreement became effective in December 2012, expires in December 2014, has a notional value of $65.0 million and is not designated as a hedging instrument. Included within “Interest expense” in the accompanying condensed consolidated statements of operations and comprehensive income (loss) is $0.2 million related to income for the increase in value of this contract during the six months ended September 30, 2013. At September 30, 2013 and March 31, 2013, this contract had a fair value of $0.4 million and $0.5 million, respectively, and is included within “Other long-term liabilities” in the accompanying condensed consolidated balance sheets.

SHAREBASED_COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2013
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION	12. SHARE-BASED COMPENSATION
	Share-based compensation expense consisted of the following:
		Three Months Ended				Six Months Ended
		September 30,				September 30,
	(In thousands)	2013		2012		2013		2012
	Cost of goods manufactured and sold	$	1,149	$	1,223	$	2,152	$	2,304
	Research and development	2,825		2,348		4,990		4,658
	Selling, general and administrative	10,235		6,876		15,876		11,647
	Total share-based compensation expense	$	14,209	$	10,447	$	23,018	$	18,609
	At September 30, 2013 and March 31, 2013, $0.6 million of share-based compensation cost was capitalized and recorded as “Inventory” in the accompanying condensed consolidated balance sheets.

LOSS_EARNINGS_PER_SHARE

(LOSS) EARNINGS PER SHARE	6 Months Ended
	Sep. 30, 2013
(LOSS) EARNINGS PER SHARE
(LOSS) EARNINGS PER SHARE	13. (LOSS) EARNINGS PER SHARE
	Basic (loss) earnings per ordinary share is calculated based upon net (loss) income available to holders of ordinary shares divided by the weighted average number of shares outstanding. For the calculation of diluted (loss) earnings per ordinary share, the Company uses the weighted average number of ordinary shares outstanding, as adjusted for the effect of potential outstanding shares, including stock options and restricted stock units.
		Three Months Ended						Six Months Ended
		September 30,						September 30,
	(In thousands)	2013			2012			2013			2012
	Numerator:
	Net (loss) income	$	(7,762	)	$	(16,707	)	$	(428	)	$	5,726
	Denominator:
	Weighted average number of ordinary shares outstanding	136,106			131,067			135,358			130,753
	Effect of dilutive securities:
	Stock options	—			—			—			3,604
	Restricted stock units	—			—			—			1,232
	Dilutive ordinary share equivalents	—			—			—			4,836
	Shares used in calculating diluted (loss) earnings per share	136,106			131,067			135,358			135,589
	The following potential ordinary equivalent shares have not been included in the net (loss) income per ordinary share calculation because the effect would have been anti-dilutive:
		Three Months Ended				Six Months Ended
		September 30,				September 30,
	(In thousands)	2013		2012		2013		2012
	Stock options	9,241		9,986		8,883		6,472
	Restricted stock units	1,229		1,238		1,338		—
	Total	10,470		11,224		10,221		6,472

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2013
INCOME TAXES
INCOME TAXES	14. INCOME TAXES
	The Company recorded an income tax provision of $0.2 million and $3.0 million for the three and six months ended September 30, 2013, respectively, and an income tax provision of $0.4 million and $1.2 million for the three and six months ended September 30, 2012, respectively. The income tax provision in the three and six months ended September 30, 2013 primarily relates to U.S. Federal and state taxes on income offset by a discrete benefit of $3.0 million from the settlement of uncertain tax benefits. The tax provision in the three and six months ended September 30, 2012 primarily related to foreign taxes on income and was prepared on a discrete quarterly and year-to-date basis, respectively, as the yearly effective tax rate was not considered a reliable estimate for the current quarter and year-to-date provision.
	The Company records a deferred tax asset or liability based on the difference between the financial statement and tax basis of its assets and liabilities, as measured by enacted jurisdictional tax rates assumed to be in effect when these differences reverse. At September 30, 2013, the Company determined, based on the weight of all available positive and negative evidence, on a jurisdiction-by-jurisdiction basis, that it is more likely than not that a significant portion of the net deferred tax assets will not be realized, and a valuation allowance has been recorded. However, if the Company demonstrates consistent profitability in the future, the evaluation of the recoverability of the deferred tax asset could change and the valuation allowance could be released in part or in whole.
	The Company resolved substantially all of its uncertain tax positions during the three months ended June 30, 2013, resulting in the discrete benefit of $3.0 million.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2013
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	15. COMMITMENTS AND CONTINGENCIES
	From time to time, the Company may be subject to legal proceedings and claims in the ordinary course of business. For example, the Company is currently involved in various Paragraph IV litigation in the U.S. The Company is not aware of any current proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on its business, financial condition or results of operations.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation
	The accompanying condensed consolidated financial statements of the Company for the three and six months ended September 30, 2013 and 2012 are unaudited and have been prepared on a basis substantially consistent with the audited financial statements for the year ended March 31, 2013. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”) (commonly referred to as “GAAP”). In the opinion of management, the condensed consolidated financial statements include all adjustments, which are of a normal recurring nature, that are necessary to present fairly the results of operations for the reported periods.
	These financial statements should be read in conjunction with the financial statements and notes thereto of Alkermes, which are contained in the Company’s Annual Report, which has been filed with the U.S. Securities and Exchange Commission (“SEC”). The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for any other interim period or for a full fiscal year.
	In May 2013, the Company announced that it was changing its fiscal year-end from March 31 to December 31, effective within the year-ended December 31, 2013.  The Company will file the report for the transition period ending December 31, 2013 in its Annual Report on Form 10-K.
Principles of Consolidation	Principles of Consolidation
	The condensed consolidated financial statements include the accounts of Alkermes plc and its wholly owned subsidiaries as disclosed in Note 2: Summary of Significant Accounting Policies within Part II Items of our annual report.  Intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates
	The preparation of the Company’s condensed consolidated financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates and judgments and methodologies, including those related to revenue recognition and related allowances, its collaborative relationships, clinical trial expenses, the valuation of inventory, impairment and amortization of intangibles and long-lived assets, share-based compensation, income taxes including the valuation allowance for deferred tax assets, valuation of investments and derivative instruments, litigation and restructuring charges. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions.
Segment Information	Segment Information
	The Company operates as one business segment, which is the business of developing, manufacturing and commercializing medicines designed to yield better therapeutic outcomes and improve the lives of patients with serious diseases. The Company’s chief decision maker, the Chairman and Chief Executive Officer, reviews the Company’s operating results on an aggregate basis and manages the Company’s operations as a single operating unit.
New Accounting Pronouncements	New Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard-setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

INVESTMENTS_Tables

INVESTMENTS (Tables)	6 Months Ended
	Sep. 30, 2013
INVESTMENTS
Schedule of investments
				Gross Unrealized
						Losses
		Amortized				Less than			Greater than			Estimated
		Cost		Gains		One Year			One Year			Fair Value
		(In thousands)
	September 30, 2013
	Short-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	$	132,502	$	84	$	(15	)	$	—		$	132,571
	Corporate debt securities	18,641		44		—			—			18,685
	International government agency debt securities	13,455		11		(2		)	—			13,464
		164,598		139		(17		)	—			164,720
	Money market funds	1,201		—		—			—			1,201
	Total short-term investments	165,799		139		(17		)	—			165,921
	Long-term investments:
	Available-for-sale securities:
	Corporate debt securities	17,207		—		(31		)	(145		)	17,031
	U.S. government and agency debt securities	14,799		—		(26		)	(11		)	14,762
	Equity securities	8,732		8,051		—			—			16,783
	International government agency debt securities	6,043		—		(4		)	—			6,039
		46,781		8,051		(61		)	(156		)	54,615
	Held-to-maturity securities:
	Certificates of deposit	1,200		—		—			—			1,200
	Total long-term investments	47,981		8,051		(61		)	(156		)	55,815
	Total investments	$	213,780	$	8,190	$	(78	)	$	(156	)	$	221,736
	March 31, 2013
	Short-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	$	102,093	$	29	$	(1	)	$	—		$	102,121
	Corporate debt securities	10,946		27		—			—			10,973
	International government agency debt securities	10,089		8		(1		)	—			10,096
		123,128		64		(2		)	—			123,190
	Money market funds	1,201		—		—			—			1,201
	Total short-term investments	124,329		64		(2		)	—			124,391
	Long-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	60,047		—		(17		)	—			60,030
	Corporate debt securities	18,725		—		(26		)	(162		)	18,537
	International government agency debt securities	3,060		—		—			—			3,060
		81,832		—		(43		)	(162		)	81,627
	Held-to-maturity securities:
	Certificates of deposit	1,200		—		—			—			1,200
	Total long-term investments	83,032		—		(43		)	(162		)	82,827
	Total investments	$	207,361	$	64	$	(45	)	$	(162	)	$	207,218
Proceeds from the sales and maturities of marketable securities, plus the resulting realized gains and losses
		Six Months Ended
		September 30,
	(In thousands)	2013		2012
	Proceeds from the sales and maturities of marketable securities	$	56,400	$	185,392
	Realized gains	$	15	$	273
	Realized losses	$	—	$	—
The cost and fair value of available-for-sale and held-to-maturity securities by contractual maturity
		Available-for-sale				Held-to-maturity
		Amortized		Estimated		Amortized			Estimated
	(In thousands)	Cost		Fair Value		Cost			Fair Value
	Within 1 year	$	86,899	$	86,938	$	1,200		$	1,200
	After 1 year through 5 years	115,748		115,613		—			—
	Total	$	202,647	$	202,551	$	1,200		$	1,200

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Sep. 30, 2013
FAIR VALUE MEASUREMENTS
Summary of the Company's assets and liabilities measured at fair value on a recurring basis
		September 30,
	(In thousands)	2013			Level 1		Level 2			Level 3
	Assets:
	Cash equivalents	$	1,201		$	1,201	$	—		$	—
	U.S. government and agency debt securities	147,332			63,420		83,912			—
	Corporate debt securities	35,716			—		35,716			—
	International government agency debt securities	19,503			—		19,503			—
	Equity securities	16,783			15,976		—			807
	Total	$	220,535		$	80,597	$	139,131		$	807
	Liabilities:
	Interest rate swap contract	$	(366	)	$	—	$	(366	)	$	—
	Total	$	(366	)	$	—	$	(366	)	$	—
		March 31,
		2013			Level 1		Level 2			Level 3
	Assets:
	Cash equivalents	$	1,201		$	1,201	$	—		$	—
	U.S. government and agency debt securities	162,151			75,025		87,126			—
	Corporate debt securities	29,510			—		29,510			—
	International government agency debt securities	13,156			—		13,156			—
	Total	$	206,018		$	76,226	$	129,792		$	—
	Liabilities:
	Interest rate swap contract	$	(541	)	$	—	$	(541	)	$	—
	Total	$	(541	)	$	—	$	(541	)	$	—
Schedule of rollforward of the fair value of the Company's investments whose fair value was determined using Level 3 inputs
	(In thousands)	Fair Value
	Balance, April 1, 2013	$	—
	Conversion of investment from cost method to available-for-sale	807
	Balance, September 30, 2013	$	807
Estimated fair value of term loans
		Carrying			Estimated
	(In thousands)	Value			Fair Value
	Term Loan B-1	$	294,743		$	296,629
	Term Loan B-2	$	71,129		$	71,606

INVENTORY_Tables

INVENTORY (Tables)	6 Months Ended
	Sep. 30, 2013
INVENTORY
Schedule of inventories		September 30,		March 31,
	(In thousands)	2013		2013
	Raw materials	$	14,771	$	13,506
	Work in process	13,059		13,842
	Finished goods(1)	12,878		16,135
	Total inventory	$	40,708	$	43,483
	(1)         At September 30, 2013 and March 31, 2013, the Company had $1.8 million and $0.6 million, respectively, of VIVITROL finished goods inventory located at its third-party warehouse and shipping service provider.

PROPERTY_PLANT_AND_EQUIPMENT_T

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Sep. 30, 2013
PROPERTY, PLANT AND EQUIPMENT
Schedule of property, plant and equipment
		September 30,			March 31,
	(In thousands)	2013			2013
	Land	$	8,457		$	8,357
	Building and improvements	147,836			141,092
	Furniture, fixture and equipment	216,025			197,743
	Leasehold improvements	23,960			24,137
	Construction in progress	21,713			39,399
	Subtotal	417,991			410,728
	Less: accumulated depreciation	(143,614		)	(122,293		)
	Total property, plant and equipment, net	$	274,377		$	288,435

GOODWILL_AND_INTANGIBLE_ASSETS1

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Sep. 30, 2013
GOODWILL AND INTANGIBLE ASSETS
Schedule of goodwill and intangible assets
			September 30, 2013
		Weighted	Gross		Accumulated			Net
	(In thousands)	Amortizable Life	Carrying Amount		Amortization			Carrying Amount
	Goodwill		$	92,740	$	—		$	92,740
	Finite-lived intangible assets:
	Collaboration agreements	12	$	499,700	$	(70,447	)	$	429,253
	NanoCrystal technology	13	74,600		(7,458		)	67,142
	OCR technology	12	66,300		(12,274		)	54,026
	Total		$	640,600	$	(90,179	)	$	550,421

ACCOUNTS_PAYABLE_AND_ACCRUED_E1

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	6 Months Ended
	Sep. 30, 2013
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Schedule of accounts payable and accrued expenses		September 30,		March 31,
	(In thousands)	2013		2013
	Accounts payable	$	12,124	$	18,282
	Accrued compensation	17,727		30,432
	Accrued interest	934		970
	Accrued other	33,497		27,226
	Total accounts payable and accrued expenses	$	64,282	$	76,910

RESTRUCTURING_Tables

RESTRUCTURING (Tables)	6 Months Ended
	Sep. 30, 2013
RESTRUCTURING
Schedule of restructuring charges recorded
		Severance and
	(In thousands)	Outplacement Services
	Balance, April 1, 2013	$	12,300
	Payments	(1,239		)
	Adjustments	335
	Balance, September 30, 2013	$	11,396

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	6 Months Ended
	Sep. 30, 2013
LONG-TERM DEBT
Schedule of long-term debt
		September 30,			March 31,
	(In thousands)	2013			2013
	Term Loan B-1, due September 25, 2019	$	294,743		$	296,029
	Term Loan B-2, due September 25, 2016	71,129			72,979
	Total	365,872			369,008
	Less: current portion	(6,750		)	(6,750		)
	Long-term debt	$	359,122		$	362,258

SHAREBASED_COMPENSATION_Tables

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2013
SHARE-BASED COMPENSATION
Schedule of share-based compensation expense
		Three Months Ended				Six Months Ended
		September 30,				September 30,
	(In thousands)	2013		2012		2013		2012
	Cost of goods manufactured and sold	$	1,149	$	1,223	$	2,152	$	2,304
	Research and development	2,825		2,348		4,990		4,658
	Selling, general and administrative	10,235		6,876		15,876		11,647
	Total share-based compensation expense	$	14,209	$	10,447	$	23,018	$	18,609

LOSS_EARNINGS_PER_SHARE_Tables

(LOSS) EARNINGS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2013
(LOSS) EARNINGS PER SHARE
Schedule of weighted average number of ordinary shares outstanding, as adjusted for the effect of potential outstanding shares, including stock options and restricted stock units
		Three Months Ended						Six Months Ended
		September 30,						September 30,
	(In thousands)	2013			2012			2013			2012
	Numerator:
	Net (loss) income	$	(7,762	)	$	(16,707	)	$	(428	)	$	5,726
	Denominator:
	Weighted average number of ordinary shares outstanding	136,106			131,067			135,358			130,753
	Effect of dilutive securities:
	Stock options	—			—			—			3,604
	Restricted stock units	—			—			—			1,232
	Dilutive ordinary share equivalents	—			—			—			4,836
	Shares used in calculating diluted (loss) earnings per share	136,106			131,067			135,358			135,589
Schedule of anti-dilutive potential common equivalent shares excluded from calculation of net (loss) income per share
		Three Months Ended				Six Months Ended
		September 30,				September 30,
	(In thousands)	2013		2012		2013		2012
	Stock options	9,241		9,986		8,883		6,472
	Restricted stock units	1,229		1,238		1,338		—
	Total	10,470		11,224		10,221		6,472

THE_COMPANY_Details

THE COMPANY (Details)	6 Months Ended
	Sep. 30, 2013
	product
THE COMPANY
Minimum number of commercial drug products in Company's diversified portfolio	20

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Sep. 30, 2013
	segment
Segment Information
Number of business segments	1

INVESTMENTS_Details

INVESTMENTS (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Mar. 31, 2013
Held-to-maturity securities:
Estimated Fair Value	$1,200
Total investments
Amortized Cost	213,780	207,361
Gross Unrealized Gains	8,190	64
Gross Unrealized Losses, Less than One Year	-78	-45
Gross Unrealized Losses, Greater than One Year	-156	-162
Estimated Fair Value	221,736	207,218
Short-term investments
Available-for-sale securities:
Amortized Cost	164,598	123,128
Gross Unrealized Gains	139	64
Gross Unrealized Losses, Less than One Year	-17	-2
Estimated Fair Value	164,720	123,190
Total investments
Amortized Cost	165,799	124,329
Gross Unrealized Gains	139	64
Gross Unrealized Losses, Less than One Year	-17	-2
Estimated Fair Value	165,921	124,391
Short-term investments | Money market funds
Total investments
Amortized Cost	1,201	1,201
Estimated Fair Value	1,201	1,201
Short-term investments | U.S. government and agency debt securities
Available-for-sale securities:
Amortized Cost	132,502	102,093
Gross Unrealized Gains	84	29
Gross Unrealized Losses, Less than One Year	-15	-1
Estimated Fair Value	132,571	102,121
Short-term investments | Corporate debt securities
Available-for-sale securities:
Amortized Cost	18,641	10,946
Gross Unrealized Gains	44	27
Estimated Fair Value	18,685	10,973
Short-term investments | International government agency debt securities
Available-for-sale securities:
Amortized Cost	13,455	10,089
Gross Unrealized Gains	11	8
Gross Unrealized Losses, Less than One Year	-2	-1
Estimated Fair Value	13,464	10,096
Long-term investments
Available-for-sale securities:
Amortized Cost	46,781	81,832
Gross Unrealized Gains	8,051
Gross Unrealized Losses, Less than One Year	-61	-43
Gross Unrealized Losses, Greater than One Year	-156	-162
Estimated Fair Value	54,615	81,627
Held-to-maturity securities:
Amortized Cost	47,981	83,032
Gross Unrealized Gains	8,051
Gross Unrealized Losses, Less than One Year	-61	-43
Gross Unrealized Losses, Greater than One Year	-156	-162
Estimated Fair Value	55,815	82,827
Long-term investments | Certificates of deposit
Held-to-maturity securities:
Amortized Cost	1,200	1,200
Estimated Fair Value	1,200	1,200
Long-term investments | U.S. government and agency debt securities
Available-for-sale securities:
Amortized Cost	14,799	60,047
Gross Unrealized Losses, Less than One Year	-26	-17
Gross Unrealized Losses, Greater than One Year	-11
Estimated Fair Value	14,762	60,030
Long-term investments | Corporate debt securities
Available-for-sale securities:
Amortized Cost	17,207	18,725
Gross Unrealized Losses, Less than One Year	-31	-26
Gross Unrealized Losses, Greater than One Year	-145	-162
Estimated Fair Value	17,031	18,537
Long-term investments | Equity securities
Available-for-sale securities:
Amortized Cost	8,732
Gross Unrealized Gains	8,051
Estimated Fair Value	16,783
Long-term investments | International government agency debt securities
Available-for-sale securities:
Amortized Cost	6,043	3,060
Gross Unrealized Losses, Less than One Year	-4
Estimated Fair Value	$6,039	$3,060

INVESTMENTS_Details_2

INVESTMENTS (Details 2) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
INVESTMENTS
Proceeds from the sales and maturities of marketable securities	$56,400	$185,392
Realized gains	$15	$273

INVESTMENTS_Details_3

INVESTMENTS (Details 3) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Available-for-sale, Amortized Cost
Within 1 year	$86,899
After 1 year through 5 years	115,748
Total	202,647
Available-for-sale, Estimated Fair Value
Within 1 year	86,938
After 1 year through 5 years	115,613
Total	202,551
Held-to-maturity, Amortized Cost
Within 1 year	1,200
Total	1,200
Held-to-maturity, Estimated Fair Value
Within 1 year	1,200
Estimated Fair Value	$1,200

INVESTMENTS_Details_4

INVESTMENTS (Details 4) (USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013
Equity method investment
Additional investments	$1,191,000
Civitas
Equity method investment
Carrying value of equity investment	2,600,000		800,000
Additional investments	1,200,000
Amount of promissory note converted into Series B preferred stock	1,200,000
Number of shares of Series B preferred stock issued on conversion of promissory note	844,415
Ownership percentage	11.00%
Reduction in carrying value of investment of the entity, which represents the Company's share of investee's net losses	$800,000	$600,000

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (Recurring basis, USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Level 1
Fair value
Assets, Total	$80,597	$76,226
Level 2
Fair value
Assets, Total	139,131	129,792
Liabilities, Total	-366	-541
Total
Fair value
Assets, Total	220,535	206,018
Liabilities, Total	-366	-541
Level 3
Fair value
Assets, Total	807
Interest rate swap contract | Level 2
Fair value
Interest rate swap contract	-366	-541
Interest rate swap contract | Total
Fair value
Interest rate swap contract	-366	-541
Cash equivalents | Level 1
Fair value
Available for sale securities	1,201	1,201
Cash equivalents | Total
Fair value
Available for sale securities	1,201	1,201
U.S. government and agency debt securities | Level 1
Fair value
Available for sale securities	63,420	75,025
U.S. government and agency debt securities | Level 2
Fair value
Available for sale securities	83,912	87,126
U.S. government and agency debt securities | Total
Fair value
Available for sale securities	147,332	162,151
Corporate debt securities | Level 2
Fair value
Available for sale securities	35,716	29,510
Corporate debt securities | Total
Fair value
Available for sale securities	35,716	29,510
International government agency debt securities | Level 2
Fair value
Available for sale securities	19,503	13,156
International government agency debt securities | Total
Fair value
Available for sale securities	19,503	13,156
Equity securities | Level 1
Fair value
Available for sale securities	15,976
Equity securities | Total
Fair value
Available for sale securities	16,783
Equity securities | Level 3
Fair value
Available for sale securities	$807

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
	item
Roll forward of the fair value of the Company's investments whose fair value was determined using Level 3 inputs
Number of investments transferred from level 1 to level 2	0
Number of investments transferred from level 2 to level 1	0
Conversion of investment from cost method to available-for-sale	$807
Balance at the end of the period	$807

FAIR_VALUE_MEASUREMENTS_Detail2

FAIR VALUE MEASUREMENTS (Details 3) (USD $)	6 Months Ended
	Sep. 30, 2013	Mar. 31, 2013
Estimated fair value of the Term Loans
Carrying Value	$365,872,000	$369,008,000
Term Loan B-1
Estimated fair value of the Term Loans
Fair value of remaining financial instruments not recognized at fair value	300,000,000
Term loans maturity period	7 years
Variable interest rate base	LIBOR
Carrying Value	294,743,000	296,029,000
Estimated Fair Value	296,629,000
Term Loan B-2
Estimated fair value of the Term Loans
Fair value of remaining financial instruments not recognized at fair value	75,000,000
Term loans maturity period	4 years
Variable interest rate base	LIBOR
Carrying Value	71,129,000	72,979,000
Estimated Fair Value	$71,606,000
LIBOR | Term Loan B-1
Estimated fair value of the Term Loans
Interest rate added to base rate (as a percent)	2.75%
Interest rate, variable interest rate floor	0.75%
LIBOR | Term Loan B-2
Estimated fair value of the Term Loans
Interest rate added to base rate (as a percent)	2.75%
Interest rate, variable interest rate floor	0.00%

INVENTORY_Details

INVENTORY (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
INVENTORY
Raw materials	$14,771,000	$13,506,000
Work in process	13,059,000	13,842,000
Finished goods	12,878,000	16,135,000
Total inventory	40,708,000	43,483,000
Finished goods inventory located at third party warehouse and shipping service provider	$1,800,000	$600,000

PROPERTY_PLANT_AND_EQUIPMENT_D

PROPERTY, PLANT AND EQUIPMENT (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Property, plant and equipment
Subtotal	$417,991	$410,728
Less: accumulated depreciation	-143,614	-122,293
Total property, plant and equipment, net	274,377	288,435
Land
Property, plant and equipment
Subtotal	8,457	8,357
Building and improvements
Property, plant and equipment
Subtotal	147,836	141,092
Furniture, fixture and equipment
Property, plant and equipment
Subtotal	216,025	197,743
Leasehold improvements
Property, plant and equipment
Subtotal	23,960	24,137
Construction in progress
Property, plant and equipment
Subtotal	$21,713	$39,399

GOODWILL_AND_INTANGIBLE_ASSETS2

GOODWILL AND INTANGIBLE ASSETS (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
In Thousands, unless otherwise specified			Collaboration agreements	NanoCrystal technology	OCR technology
Intangible assets
Gross Carrying Amount	$92,740
Goodwill	92,740	92,740
Finite-lived intangible assets:
Weighted Amortizable Life			12 years	13 years	12 years
Gross Carrying Amount	640,600		499,700	74,600	66,300
Accumulated Amortization	-90,179		-70,447	-7,458	-12,274
Net Carrying Amount	$550,421		$429,253	$67,142	$54,026

GOODWILL_AND_INTANGIBLE_ASSETS3

GOODWILL AND INTANGIBLE ASSETS (Details 2) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
GOODWILL AND INTANGIBLE ASSETS
Amortization expense	$12,856,000	$10,547,000	$25,572,000	$20,981,000
Expected amortization of intangible assets
2013	40,000,000		40,000,000
2014	60,000,000		60,000,000
2015	65,000,000		65,000,000
2016	70,000,000		70,000,000
2017	$70,000,000		$70,000,000

ACCOUNTS_PAYABLE_AND_ACCRUED_E2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $)	3 Months Ended
	Jun. 30, 2013	Sep. 30, 2013	Mar. 31, 2013
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable		$12,124,000	$18,282,000
Accrued compensation		17,727,000	30,432,000
Accrued interest		934,000	970,000
Accrued other		33,497,000	27,226,000
Total accounts payable and accrued expenses		64,282,000	76,910,000
Out-of-period adjustment recorded to correct an over-accrued liability from the prior year	$1,000,000

RESTRUCTURING_Details

RESTRUCTURING (Details) (USD $)	6 Months Ended					6 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2013	Sep. 30, 2013
		Accounts payable and accrued expenses	Accounts payable and accrued expenses	Other long-term liabilities	Other long-term liabilities	Athlone, Ireland manufacturing facility	Severance and outplacement services
						Maximum
						item
Restructuring activity
Expected number of employees to be eliminated						130
Cash paid for restructuring costs	$1,200,000
Foreign currency adjustment	300,000
Restructuring activity
Balance at beginning of the period		3,100,000	0	8,300,000	12,300,000		12,300,000
Payments							-1,239,000
Adjustments							335,000
Balance at end of the period		3,100,000	0	8,300,000	12,300,000		11,396,000
Restructuring accrual
Restructuring accrual		$3,100,000	$0	$8,300,000	$12,300,000		$11,396,000

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Long-term debt
Total	$365,872	$369,008
Less: current portion	-6,750	-6,750
Long-term debt	359,122	362,258
Term Loan B-1, due September 25, 2019
Long-term debt
Total	294,743	296,029
Term Loan B-2, due September 25, 2016
Long-term debt
Total	$71,129	$72,979

DERIVATIVE_INSTRUMENTS_Details

DERIVATIVE INSTRUMENTS (Details) (Not designated as hedging instrument, USD $)	1 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2011	Sep. 30, 2013	Sep. 30, 2013	Mar. 31, 2013
	Interest rate caps	Interest rate caps	Interest rate swap	Interest rate swap
Derivative instruments
Cost of interest rate cap	$0.10
Variable interest rate base		three-Month LIBOR	three-Month LIBOR
Notional value		160	65
Gain (loss) on derivative instrument due to increase in value of the contract			0.2
Fair value of derivative instrument			$0.40	$0.50

SHAREBASED_COMPENSATION_Detail

SHARE-BASED COMPENSATION (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013
Share-based Compensation Expense
Total share-based compensation expense	$14,209,000	$10,447,000	$23,018,000	$18,609,000
Share based compensation cost capitalized			600,000		600,000
Cost of goods manufactured and sold
Share-based Compensation Expense
Total share-based compensation expense	1,149,000	1,223,000	2,152,000	2,304,000
Research and development
Share-based Compensation Expense
Total share-based compensation expense	2,825,000	2,348,000	4,990,000	4,658,000
Selling, general and administrative
Share-based Compensation Expense
Total share-based compensation expense	$10,235,000	$6,876,000	$15,876,000	$11,647,000

LOSS_EARNINGS_PER_SHARE_Detail

(LOSS) EARNINGS PER SHARE (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator:
Net (loss) income	($7,762)	($16,707)	($428)	$5,726
Denominator:
Weighted average number of ordinary shares outstanding	136,106	131,067	135,358	130,753
Effect of dilutive securities:
Dilutive ordinary share equivalents (in shares)				4,836
Shares used in calculating diluted (loss) earnings per share	136,106	131,067	135,358	135,589
Stock options
Effect of dilutive securities:
Dilutive ordinary share equivalents (in shares)				3,604
Restricted stock units
Effect of dilutive securities:
Dilutive ordinary share equivalents (in shares)				1,232

LOSS_EARNINGS_PER_SHARE_Detail1

(LOSS) EARNINGS PER SHARE (Details 2)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Denominator:
Anti-dilutive potential common equivalent shares excluded from calculation of net income (loss) per share	10,470	11,224	10,221	6,472
Stock options
Denominator:
Anti-dilutive potential common equivalent shares excluded from calculation of net income (loss) per share	9,241	9,986	8,883	6,472
Restricted stock units
Denominator:
Anti-dilutive potential common equivalent shares excluded from calculation of net income (loss) per share	1,229	1,238	1,338

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended			6 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
INCOME TAXES
Income tax provision (benefit)	$233,000		$422,000	$2,951,000	$1,186,000
Discrete benefit from the settlement of uncertain tax benefits	$3,000,000	$3,000,000		$3,000,000