ALKS - Earnings call transcript Q2 2020

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to the Alkermes Second Quarter 2020 Earnings Call. My name is Melissa, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, that this conference is being recorded. call Sandy the of Vice turn Relations. Investor now over Coombs, to President I'll begin. may you Sandy,

Sandra Coombs

Thank Welcome business Officer. Chief Good me Frates, discuss quarter you. our morning. June today our call plc ended Todd our financial to are conference CFO; Richard results CEO; XXXX. and Commercial and XX, update Pops, the to for With the Jim Alkermes our Nichols,

Iain Q&A the section, During our of Finance. be by we'll SVP Brown, joined also

the reconciliation ongoing Investors encourage our financial I we results, GAAP today. to the financial useful discuss to related to Before We understanding to we'll of everyone of find GAAP non-GAAP section are in go results, press financial economics begin, alkermes.com business. tables, of non-GAAP and our conjunction release in that the the believe including measures a the with

will discussions this SEC annual see statements. forward-looking remarks, reports or in results the results include for provided statements. conference Actual or our obligation two those forward-looking from differ or forward-looking open filed future After factors accompanying presentation the could call actual we'll expressed the and our important slide prepared no release the of in to We cause information this statements. of or on result presentation, Our could these undertake most to implied new that Please revise materially or for call update Q&A. the information with recent materially and this accompanying a our our as press during from call quarterly differ risk results morning the issued developments.

over call turn I'll the Rich. to Now

Richard Pops

everyone. Thank you, Sandy, morning, good and

complex of this unprecedented and country. challenges access social of facing ensure to terms the safety responded second environment We the our business business. we're objectives have of In midway patients were currently actively strategic a execution in imperatives our and our employees and So the help year in that we've protect our with quarter. drive the Three to and through of health care to progress an providers medicines. health our during and now uninterrupted management XXXX, setting, health pleased the

The opportunities infrastructure potential and ALKS leverage the the launch to maximizing ARISTADA XXXX. commercial first for preparing and commercial with VIVITROL of our is execution, both

aggressive significant our we promising in of on these value XXXX and The second is to most oncology. that potential candidates, most The those drive the the focusing both of have ALKS development pipeline in opportunities the believe long-term. high-value near-term is prominent

company, rigorous the third management efficient expense the a focus and prioritization our of of The is management on of and governance with careful operating structure investments.

Taken May. together, efficiencies and deeply COVID-XX this the declines a way starts pandemic across to are new efficiencies and the and opportunities beyond. meaningful in present process, be in VIVITROL April market, of beyond. we will business June we see for ARISTADA in resilience, disruptive for creation to and response, in stabilization In to In we've continues country. that new environment that as these identifying and our in demonstrated the part suit are encouraged evolved value July, expect conduct endure we patient throughout and new following has XXXX the

to disciplined financial today, positioned a for to patient some with deeper of commitment it well return that our we're non-GAAP we're COVID's expectations impact our and our patterns pre for reestablishing business expected take Consistent believe While management we flow levels, pandemic we profitability. with expenses, will expect on to to operating XXXX. with maintain time commitment understanding of

performance Turning the briefly to our quarter. in

patients. that interval ALKS dosing health and two-month regulatory tools form. ARISTADA its in to The for efficacy, ARISTADA ALKS antipsychotics. providers clinical in For features dosage review VIVITROL, continued antipsychotic provide current tolerability strong profile, tolerability the and and efficacy team convenient is adapted proven and demonstrate to care profile. XXXX launch our a a its to QX. its provide designed market resources engagement is environment digital commercial has to continue similar XXXX with and virtual growth in long-acting worked quickly preparations ongoing, and to suit important the

For believe program become going these now the ALKS our is stage economic our element and where entering assets XXXX business. Each a of in first, valuable investment we oncology, of a is medical of the represents then to this value clear.

struggling impacting the is focus serious cancer. value Our addiction maximizing that patients with illness, mental lives on positively and of and

and company invested the Over in The growth. order in the our ARISTADA in This dose ARISTADA product years, we've as we've capabilities product yielding our INITIO commercial solid investments infrastructure with the is for the that two-month several commercial momentum our the of our as and growth behind family. well development psychiatry results evidenced portfolio. both made the of family, in long-term past to are in significantly programs including position development psychiatry

operations, psychiatry therapeutic established our proposition capabilities which field provide rapidly commercial rapidly account operations We've state treatment the include investing and been evolving in their oncology. oncology sales, federal trial XXXX. research, medical a in XXXX psychiatry, and the can right, are characterized leverages in assets challenging capabilities we've and believe at The represents sales affairs time, medical we program leverages also clinical psychiatry in different in in space diversifies for and other and ALKS commercial our marketing, work and our also including specialized national distinctive XXXX policy, the clinical is development Yet own operating discovery, infrastructure, same developing, portfolio by CMS. value assets. ALKS development landscapes. Our from leadership, products, it medical in-house significant and addiction through

available characterized the a the by and all exhausted adoption the the and is from products options. growth rapid in would recognition medicines, have treatment efficacious patients needs. opportunity the strategic significant the believe way phase. medical Collectively, both cancer Data that hope potential growth value within for We the of for treated, significantly have XXXX have also the believe new for unmet development of previously and market important create it's in The portfolio earlier However, own value shift of an profile program forward. and revolutionized providing Immunotherapies have driver. that in to the future. value enhance potential these value potential collaboration the we of its our and company our profitability potential is moving significant the programs to and program development potential ALKS

financial going for So the an XXXX. financial with Jim I'm over call outlook turn that introduction, the the and review remainder to as of to results to

James Frates

good Thank and morning, you, everyone. Rich,

or in quarter We difficult are pleased with profitability spite with line ahead our expectations as of a non-GAAP our which were in delivered largely another environment. of results, of QX we

discussed arising our significantly from As in impacted VIVITROL earnings we was call, April by COVID-XX. issues

net net following impacted COVID-XX, patient is XXXX, COVID-XX and year-over-year and million In detail non-GAAP XXXX, by remainder overview providers. of the with of impact in access primarily net our year decline growth medicines. due partially $XX.X quarter the Partially Today, We in to and sales and of offset gross-to-net we're number adjustments, health VUMERITY to million expectations in income current the reflecting states. total on quarter, million, our for impact for of a to I'll quarter approximately of lower generated quarter. decline favorable by of on million highlights. of reflecting $XXX.X issuing R&D an I'll in net quarter we've VIVITROL recorded months our franchise. low XX% our sales $X.X However, additional this expectations a during order with our the by financial the four to to in by COVID-XX This first, net driven driven second second GAAP on stabilize the of true-ups understanding we second moment. underlying start our profitability. volume return response primarily Medicaid from adapted approximately of the in XX%. provide of unit behavior provider patient revenues, disruptions VIVITROL, and solid of But financial decline offsetting were a XX% our and with to approval year-over-year sales approach rate to business non-GAAP updated support second continued $XX.X unit which decreased in a insight million, $X.X commitment the of for the care FDA loss patient our revenues into a and Starting positively ARISTADA access reflect XXXX, environment in a VIVITROL of

As a the result, to gross-to-net XX.X% second in decreased in XX% adjustment quarter QX. from

adjustments, gross-to-net adjustments have favorable the Excluding QX. XX.X% in would been

now decreased over addition, units at their by quarter In inventory three in are and levels years. lowest almost levels during the X,XXX just

for ahead, to expect adjustments be the full Looking gross-to-net approximately we XX% year.

with Medicaid of drive reflecting an XXXX rates We an Medicaid expect XX%, unemployment elevated resulting to second in rebate increase from current higher associated the the utilization half will in gross-to-net adjustments units. increased

in expectation of sales and prolonged overall access a patient normalization full half a $XXX demand particularly in to impact on providers. decrease scenarios unit The and to expected in decrease in care starts, range XXXX. million back current $XXX spectrum current new current health accommodates patient year based the be range to into VIVITROL continued the for Our volume We volume in QX, have trends patient of is net the million. on is to of of the expectations believe this for

second favorable comparable quarter. sales Looking excluding net million to to gross-to-net $XX to of is to for be $XX This expect recorded range when ahead during the adjustments QX, VIVITROL the the in we million. QX

with Turning product therapy. and we of XX% $XX.X of solid net growth. by XX% family; prescription ARISTADA in to data year-over-year by primarily months the increase XX% made unit sales demonstrated progress the to quarter underlying sequentially in driven see to second total encouraged growth were year-over-year We've of terms as ARISTADA million,

February, utilization with adjustments third of expectation increased full XX% XX.X% year in first the we're half million. Inventory XXXX, the provided reinstating ARISTADA in in million normal During sales solid in the approximately to the stability quarter, X,XXX performance is amongst range levels. the by units line we the QX enter population. of compared the were This $XXX our Today, in the our gross-to-net ARISTADA during levels for reflecting Medicaid to $XXX quarter. net as for XXXX quarter, increased second as that within of expectations ARISTADA we continued previously reflecting and for patient

primarily by shipments We million the in decline $XXX.X was end in year. second our Moving of lower and decline QX RISPERDAL revenues to market business. This manufacturing and same continued in compared $XXX.X CONSTA, year. driven revenues as prior sales compared quarter reflecting last royalty the million from the in on a lower reported quarter manufacturing to to

to Turning now expenses.

million Our prior total down year. $XXX.X the in period million the operating expenses same for from were second $XXX.X in quarter, the

and compared research, to year, for our somewhat reflecting clinical needed advance well XXXX as resources cost candidates million as commercial enrollment manufacturing our in our proprietary expenses the and development completion commercialization of grow impacts program. XXXX, the in for our objectives, quarter second the were the prior strategy reflects in discovery offset that for execution supply in well expenses the $XXX.X VUMERITY the of lower of manufacture top and advance was development, to across range business due were full late to ALKS products. the line, of second restructuring million, activity Our from to capabilities by R&D $XX.X our pipeline quarter to base increased and SG&A COVID-XX. including partnered of reflecting QX which development as compared $XXX.X million as the occurred in expenses the million $XXX patient XXXX XXXX, program

invest in increase in Looking we small ahead, a SG&A prelaunch we activities XXXX. expense for expect as ALKS currently

remaining in and our expected company's cash expenditures. at primarily to execute We the compared sheet. total and the end first practices dynamic five business quarter evolving. the outlined The rapidly I'll flow to quarter, these acknowledging $XXX is morning. effect impact normalize. $XXX and total capital approximately COVID-XX-related earlier on We ended disruptions. shift pandemic be patient release appropriate strategy at we now in to end quarter. are approximately in to to believe for this estimates reflect which issued current of months trends our our million working believe debt we're Turning million investments fully expectations the of positioned provider best ranges our continue currently was million are on These XXXX, for the changes and financially press based of the and market the that with $XXX expectation capital will impacting second our and second treatment the continues the XXXX, well financial We that outstanding approximately of to balance expectations withstand

our could these could Additional impact decrease restrictions in in ability COVID-related to expectations. care, which or health shutdowns or patient result a meet to flows access

be in to announced savings a range as the and other million primarily expenses revenues billion. previous VIVITROL by net range now are expenses million to Operating across million total the This $XXX million of million expect $XXX than range in we the R&D approximately and in sales to range $XXX million lower of to sales of result be our to February, a be are COVID-XX. million, $XXX the expectations expected to line, and are to driven business, $XXX expected in the top range million. in in SG&A the for $XXX So million, to $XXX ARISTADA R&D $XXX to some million. $X.XXX includes of reduction expenses be expenses the of of $XXX $XX net in expected now

grown top an our the million and growth action ARISTADA that to company range current ARISTADA capabilities reflecting commercial VUMERITY dependence. of for $X XXXX. agreement We've composition we've net have on with and advanced executing ALKS for ahead. on XXX% the line. revenues GAAP as from option profitability these expect the loss VIVITROL the continuing and our sales and ALKS fourth the optionality five net patients revenues line of development years, margin therapeutic on potential range past to we've are regulatory and alcohol opioid to with our FDA of built million, order transformed $XX psychiatry the a important that the both future non-GAAP the be XXXX XXXX XXXX, MS expansion, profitability for invested of growth while in family the be of despite as commitment a suffering ALKs We've our in $XXX from Reflecting provides and support believe strategy leverageable business of in headwinds. that of investments, launch the product, drivers into significantly $XXX Directly approvals margin We gross and investments drive fully result to dramatically the successfully years business Concurrently, retaining to developed expected income business. the to royalty developed efficiently we've of product our non-GAAP in these collaboration. quarter. net a We collaboration focused for leading bottom established for secured We and and positioned of the the that strategic in we've key in we're entered million

our call Todd the commercial a Now detailed trends products. I'll for recent turn of for our more over review to

Todd Nichols

Thanks, Jim, and good morning, everyone.

awarded effect introducing the entered field making QX, than to innovative impact certified pivoted rapidly we of provider in awareness our portfolio, returning In June, mitigation to recently the virtual programs, services. contributed hybrid digital of our health campaigns, which transitioning in promotional commercial on with of the tactics, team with commercial evolving treatment care ARISTADA. we more quarter, access and were tactics moving pronounced VIVITROL our our a our increase sales appropriate engagement these a As virtual The Early agility progress the second our for care began to majority team to interactions representatives local were as with domains out COVID-XX After virtual now on with rolling and the health person. addiction clinics that engagement resilience initiatives health speaker state implemented providers our for funding on, of supporting are health see XX% and our introducing to accordance mental to behavioral the and model, medicines guidelines. to community pandemic ARISTADA.

the of the pharmacies. a year. injection a and to reduced review to sequentially quarter results Net Since address addiction and the network and provide year-over-year other X,XXX pandemic QX driven approximately continue such treatment remainder the were expanding providers decline the greater as during added a patients VIVITROL. to include and an of well to in with now of I'll $XX.X seeking result of support network, of alternate treatment limited of care we volume million, as products COVID-related at provider of treatment patient providers to disruptions as sites for our XX% for additional have of our units engage our began, XX% in providers outlook potential our access Starting sales locations expand COVID-XX. by further Our impact access efforts to with patient we'll access. as injection

see stabilized As QX declining I our to our in we XX% started began and a indications expectations lighter unit mentioned on of demand call, in April. factory and June. VIVITROL Volumes are gradual shipments in recovery in approximately than pre-COVID May,

a limited decrease than reconsidered had the Detox demand starts patients more services quarter, medication. continuing on VIVITROL as as initiating patient the patients During new more prescribers long-acting impact on pronounced in and became

we've expect have a in XXXX. encouraging second prolonged several last the new-to-brand a QX effect on we decrease demand observed tail While the overall prescription weeks, volume over unit of patient to in trends in half

past in to backdrop have as future. of Over alcohol pace there dependence alcohol a from opioid the the consequence for need resulted a in faster consumption even the epidemic dependence treatment reported across is country of the we parts be than the intensified July. alcohol COVID-XX, to increased finish is rage the against at year, an continues in alcohol COVID-XX, indication With opioid have country. growing in may mix with and the of Similarly, increase XX the the for states opioid-related the for of in utilization for secondary mortality rise stress VIVITROL, increase seen isolation social dependence. on

support awareness important VIVITROL continue work drive and access treatment. to to So we of to have order to do patient in

the which a months its share total million, XX% $XX.X at of believe reflecting XX% of prescriptions demonstrated highest terms the therapy leading same approximately therapy, to in X% ARISTADA is of long-acting for data outpaced XX.X% year-over-year underlying May, sales the The growth of In period. broader, in second demand in at we Net two-month atypical new of family. which the months product remained was year-over-year at grew useful antipsychotic brand the and for therapy. dose to growth market, terms market ARISTADA brand Underlying of trajectory to for months share growth. in of of for Turning prescription XX% in ARISTADA. increased solid indicator terms quarter of

market XX% encouraged from began growth X% we're of of as we an COVID-XX. XXXX, the the Despite value its our ARISTADA's progress to ARISTADA utilization in we during midst likely intense QX, differentiated to on to to in highlights an in is expand positioning the important result growth first overall execution the growth with market. undertaking While work a potential. market, in health this half as rate agility our by of of changing we in and the administration, organization focus ARISTADA's have making ARISTADA communicate moderate, to seen sequential growth pandemic site QX to with the adapt on continued support softening the network are year-over-year the Because of LAI proposition resilience the relies year-over-year care injection provider our ARISTADA of market the the

prescriptions are Turning are patients need disorder, million potential for antipsychotics atypical additional I for ALKS than I disorder. from schizophrenia eight options. to for there more and important treatment for prescriptions in bipolar who for schizophrenia option and XXXX suffering represents more million and an XXXX. than oral XX.X Annually, treatment bipolar

is the the atypical of Yet, commonly serious entrants of only the through billion among illness to that all total multiple bipolar market. treatment. need generated XXXX, weight many fourth most patients its branded olanzapine profile for options, across olanzapine net that testament Despite Branded and significant reflects schizophrenia, journeys atypical mental indications. the this $X market total and sales approximately patient to three availability atypical generic and atypicals of prescribed antipsychotics opportunities. significant they guidelines relegate I prescribed despite options. therapeutic of believe a with its in disorder most second-line We As XX% gain a treatment efficacy, represent for unmet represent antipsychotic struggling treatment cycle

underpinning meaningful to have driving on access; strong presence drive through medical three and awareness, sales we exchange, planning. this market a opportunity with leaders scientific primary the force clinical from establishing springs, Our virtual In engage afford had at data order launch preparations meetings focused awareness with congresses clinical domains: and of sets community. us pivotal an new Enlighten These data the build the ALKS XXXX awareness thought an to among important program.

key of have in for federal payers accounting number the channels. regional thus the potential with in engaged a volume largest of more class to the country far, than We half and addition

We options. a received with to are offering key fall. engage we serious the that on currently treatment with to wide accounts date, of recognize Based feedback the we pairs the mental of remaining payers and in believe variety have working the illness importance patients

branded to necessitated sales of in face-to-face As treated expect business be one driven a entrants new between generic patients XXXX requirements a with for COVID-XX on space molecular entity, The like implementation ALKS we options. through would certain representatives disruptions step model, have and prescribers. dependent by this to just commercial less other new

incorporates and to smaller structures would efficiently sales footprint that infrastructure the force opens allow antipsychotics We model new potential our a possibilities Upon planning engagements XXXX, our a existing consider ARISTADA core effort the the have commercial this the believe our prior for of disruptions. of of of going than promotional configurations will ALKS approval us forward. that broader with For hybrid be accommodate to XXXX. commercial virtual prescribers permanently for COVID-XX-related ALKS team field anticipated commercial will we new we up as teams oral efforts,

companies these challenging by well. about health the on of public has and chronic, mental by addiction, communities leverage addressing impact, people not for and conditions patients, illness of as families ourselves some strategies Alkermes field public highly their excited All patients. entire prevalent possibility that serious years. of our health organization, we're the our psychiatry the millions affect time. of challenges bring XXXX ALKS issues ones, conditions are our biopharmaceutical only We to many sales current and considering from that been upon to focus the loved posed They we can and represents other most distinguish build but configurations and and

on focuses medical, social factors, not that health multitude work impact systemic outcomes. only of Our and the but also

have with organization address help in these face. and with to systems capabilities navigate We diseases built the our challenges complex treatment commercial as fragmented we purpose specialized invested patients

forward, addiction, these with of value we regardless hand with accessing to the our that particularly of as disruptions the are the proposition support typical COVID-related call model to engagement Moving mental medicines forward modality. patients will we and remain our enhance And face illness population to deeply We look from committed the and vulnerable back suffer serious continue in treatment, compounding to I'll challenges progress Rich. to sharing you. over our that, serving

Richard Pops

you, That's Thank Todd. great.

innovative we commitment a begins Our patient who expertise. of them ALKS medicines and developing on needs. people schizophrenia development mental mitigating ALKS and there NDA enable for build under weight for the people program oral These development medicines will R&D to mission significant to the of XXXX approach We're efforts unmet year. the to provide its of on to capabilities new compassion. and by It that's committee for us deep while advisory antipsychotic. The new efficacy chronic is the currently treatment truly heritage Alkermes' by disorders, with October, of drug need our and atypical The to remains preparing with an innovative XXXX driven FDA clinical serious patient-centered where drug our meaningfulness science help which living formulation in our make with insights focus XXXX for pursue to example November scientific options designed of is meeting bipolar novel, I action ALKS a ALKS with date an weight is disorder review XXXX expect target established illness. data. this PDUFA olanzapine in is associated gain.

our Turning to clinical one continues We ALKS And IL-X XXXX subcutaneous program. XXXX. utility opportunities be in to subcutaneous believe potential its the the of molecular and development support variant this most the the that evaluation and pathway its data clinic of and promising development ways, studies making antitumor IL-X advancement The progress in of current immuno-oncology. continue for administration activity from dosing We're important of number in clinical the its in other and accumulating harnessing programs structure, potential to across active as its clinical in monotherapy. ALKS differentiated development program. broadening a intravenous

Data March. As enrollment more XX has on the from and of the it's This occur is for across COVID-XX recently more sector. in our September, clinical for approximately meeting the accepted ARTISTRY-X, accelerated investigators presentation That with in is broadly study gain clinical impact enrolling ARTISTRY experience XXXX, XXXX, trial of study Society administration oral patients with despite since beginning evaluating this ESMO. the an enrollment European IV Oncology, the been Medical at for annual has to virtually a year. studies

the multiple fall. present accumulating the continuing once-weekly our use from therapy studies dosing, in initial tumor XXXX we're these Across to an ARTISTRY-X, for to For dose dosing agent reinforced of belief the combinations. has be important the program, potential evaluating in study escalate subcutaneous types, plan our both data and that once-every-X-week schedules, and has data for we to lines and

to to our of with our Board those company's to the our ongoing engagement serve composition reflect part feedback So a our back, planned interest and highlight the over efforts governance I'd commitment changes believe practices. as further governance and from corporate of actions These of align step the will extensive some shareholder we to taking past like year, best shareholders.

declassified, shareholders declassify Meeting to company's of Once the vote that the shareholders the on approve election recommend in a next of Board. all Directors General Alkermes directors. at Alkermes' Shareholders, will annually will Annual proposal of Board First,

provide a insights thoughtful evolution. valuable stage commenced leadership we've new expertise Second, this search and for and independent whose candidates experience at in our director can

expect will highly prior the the having and our we've of continue provide appointment for a dialogue with we to Having Board build is we began certain this expertise our that Annual shareholders. Meeting. will insights process of us, we with directors. fall the This refreshment effort, qualified upon leadership effort will two with priority strong part refreshment retire thoughtful As a from independent Board our that directors the continue and been the to next General of Board last longer-serving and

there. end I'll So,

We're The stakeholders. be and XXXX busy our business Alkermes. many value for second will and important half time an of executing on at on our delivering objectives focused

So the with call Sandy moderate turn that, I'll the over to to Q&A.

Sandra Coombs

Rich. please. Thank we'll you, open the for now Q&A, Great. Melissa, call

Operator

Our Thank of question. Cowen. line question with Chris comes Shibutani Please you. Instructions] from proceed the your [Operator with first

Chris Shibutani

on you've morning, bit then With Thank on that's question you. little nuts-and-bolts can VIVITROL, everybody. duration talked you A past, more of us somewhat use. about provide AdCom coming more question the with granularity. VIVITROL, bigger-picture just perhaps a Good a the up. In and

really gone opioid limitations comment what's new trends and And seen to second to half you've what from on about mix the on question highlighted use. quarter second the maybe commented And can XXXX well there kind you guidance. and of the the start, in alcohol as but You first patient we've the is as comment strengthening. assumed the as AdCom. of payers. you've my alcohol upon implications The also seems between And follow-up

you. You expecting perhaps to of this going what Thank remind clinical to interactions you've on in and you're loss. with of weight the committee us agency mentioned any presence is meaningfulness you Can terms the this focus point? there had

Richard Pops

on to VIVITROL, Chris. XXXX. Then chime some has morning, as I'll block in well. have the I'll first of the Todd if Good take questions Jim answer

start? you don't why Todd, So

Todd Nichols

Yes. remains Great. at QX, point. this not important important right Yes. any of persistency of from now, seeing Chris, Within change you're yes. X.X question a about we're an QX VIVITROL months to of That's terms therapy. at couple asking.

some can data, claims. little of your encouraged is versus we to increase, growth mix qualitative the opioid correct. on actual We're very research a our dependence by indication it we through give there's and also use. comment, terms alcohol faster specifics a with tell the concrete are It's claims seeing you I rate claims see but early In of dependence

James Frates

to for see But July, rate expectation and June more Yes. to And range that in that to started I'm we're reengagement add, just dynamics the very that we're us. our that We're on. flow VIVITROL, going given seeing two Chris, going which across going there's the we and increase providing really, in is against into again is with important country, patient unemployment Medicaid utilization. see the that

gross-to-nets up are going to be our little a So moving bit.

range you of bounding so expectations with And that's get VIVITROL. on our where the

Richard Pops

the on XXXX And question. Chris,

the Division is it's know So the with Obesity. of Disorders the consultation being Office in the Neuroscience. NDA Division reviewed Diabetes, and we submitted of of Psychiatry within to But Lipid

guidances because all loss actually but So no for for agents, types there interesting guidance it rate mitigation. of are and there's weight it's

some in the in setting mitigation application. context is this about olanzapine specifically So associated weight We, ways, gain in of course, a weight therapy broader the as We're interested the precedent implications antipsychotic. category. with administration a care of of the of less

that that, it significant is just So we very for we will patients who weight mitigate very, be important how We, gain gaining strong. of the on would case to course, of focus is with expect amounts in the AdCom believe olanzapine. weight

Operator

Thank you.

Our with Please next the Cantor with question Fitzgerald. proceed your comes from Folkes of question. Brandon line

Brandon Folkes

my Hi, thanks for questions. taking

the feedback prescribe in the you actually then So post-COVID-XX you is through Can before obviously, it to that then how maybe it's just that ARISTADA. just prescribers Obviously, us can you. have the us you dependent? And from a that growth of world? product great they're you're the And just you initiate the remind us process this think on early? now you dose alcohol talk to two-month is of much for to go just seeing COVID. maybe a now, under the we're talk for patients actually growth Thank VIVITROL COVID. the patients through too on alcohol? with Have Have received works seeing going through well persist steps

Richard Pops

and on ahead get go you don't why those? Todd,

Todd Nichols

with don't the we are Why start absolutely. last encouraging I is first, seeing Yes, trends. question

for that's our actually strategy. in ARISTADA and part with As the you of two-month dose, my with heard comments

hold. that the with the that provides long-acting and well take customers only the the to opportunity starting one with this at INITIO family strategy to to ARISTADA our point. around really The for be ARISTADA executing So you resonating months, up injectable on is strategy, very really two our initiate is against can day

We've towards quarter, that belief to also how is In going our injectables, And about long-acting the about earlier, well. terms XX% now. lot NBRxs long-acting the COVID-related represents our NBRxs. of right seeing spent the and and them trends, of It market talking said therapy. months with over seeing last XX% they're too. of we're of shift continue encouraging with our a there's time of We're two-month trends well, ARISTADA as with about as the benefit of be to impact disruptions I now thinking as to the dose total approximately a customers represents

for qualitative on question terms which or have demand little a Patients also the with strong feedback seeing well, too, the as give stronger detox use We're of be point seeing opioid we're barrier what The perceived It's as well, In VIVITROL, services, a indication I for don't at this times at at through like. again, general too. to well stated earlier, the too. go adoption. alcohol very as to dependence. growth a is looks point this with can definitive encouraging as as trends in is early answer alcohol

that So with have you alcohol. to don't do

continue believe for to alcohol So we an build we're very opportunity awareness the with and encouraged, VIVITROL use there's to indication.

the take question next we'll So, please.

Operator

you. Thank

comes question. with question Please proceed Our the with Kasimov your from next JPMorgan. line of Cory

Unidentified Analyst

waves question. [ph] This for thank on guidance. lot little just or It ongoing you're the you trends granularity more as to really But or my for guidance or current is incorporate seeing. COVID-XX based waves expectations taking was get a does much the it's I manage bit of reflect future Hey, second potential Turner on in future? though Cory. hoping how the seems on a

Richard Pops

to consideration. tried well, I Turner, Yes. we that into take think

seeing need moves really with as they're see we're the thing of and They a to our shock providers, why that That's across seeing these are And many distancing treatment. business we're various lockdowns governors is other the think the states patients. us, what dramatic happened that patients of made initial see in the on they their social want like impact I had And patient well. need to VIVITROL their flow. patients. very

ways, As isolation COVID-XX our in are with we with addiction and stressing issues. issues the patients know, many

states a there's resiliency their more We going varied country paradigm little of And levels be different across changing across even diagnoses think so COVID reopen. bit responses as the treatment we're there to the starts that the to seeing. to the as states might be

May. we seeing And the The have and growing. give ball an crystal in to that can we're a what's course, market bounce we that's the feel the we but like as of target. April is off guidance strength we in ourselves future, because don't happening saw bottom in we where why we that's ranges So appropriate place

Unidentified Analyst

that's thanks, helpful. Great,

Richard Pops

You're welcome.

Operator

Thank you.

comes Please line your Jason Our next of Gerberry question Bank of proceed question. with with from the America.

Jason Gerberry

I'm the Yes, Thanks AdCom curious, of I of some questions. my just for could it's lack good Hi, just key inconclusive. to worsening coming guess is morning. first question you it's the XXXX parameters, again. but my metabolic taking of encouraging, argue

panelists question is might of envision how And kind you head guidance of question a rearing issue wondering AdCom, in post-market I'm an the vote the and/or pertains be second to it requirements. as on the VIVITROL context this so the half. its for on And my it for label then just follow-up to claims

to in from talked that. Can recent may in alternative If Albertsons sense sort what's you injection what seeing give you XX% look you half down most at you're XQ, And year implied quarter? of kind like I you're a then impact if look these also, on the your your shipments last were number, full down sites of much Thanks. being us the XX%. about missed have month? how second at based of for

Richard Pops

Good morning, it's second the Jim take the I'll stuff question, on can the Rich. and Jason, XXXX take then VIV. Todd

are the order difference. was study in had to in doing be needed the loss an XXXX, to important agent. study to this really for a is able it's who weight weight mitigation people what not The weight enrolled in that the six-month normal That we BMIs. in for agent actually So patients that's which it's the, of we're gain, see with weight understand designed

aberrations. didn't baseline so they have And metabolic

six-month huge change we period So could to that the in see a of expect could offset. be we control wouldn't in lengthy a time, we

clinical I not clinicians be type we the the about XX, of reasonable the I to understand over from have at exactly time. will FDA and gaining settings. is to to think consequence our this for talk metabolic think experts not of that's AdCom. that comes any exposure And it's had benefit XX, And what pounds it ourselves with XX prepared

it's guys clarity other I review any an the the how frame speculate more if I over unreasonable We'll for turn think into So no as how idea. that. to we I'll the they'll now to it relates or to further PMRs. we on get wait can question the questions. ask. labeling see And don't question, have as I it cannot to get

James Frates

Yes. Maybe I'll Thanks. start, Jason.

again. encouraging flow to but June, saw seeing VIVITROL, the patient really we're started in It's grow the In census growth yet, May. we occur for need on trends pre-COVID back patient and in into terms April to And patient side. that not of levels

So Medicaid did I our that's down. $X.X of QX, where our million coming roughly would in. guidance adjustment out also those comes we point to an in benefits have adjustments that and reserve from return

patient QX, saw of of second again, at bit modest XX% for be, of headwind to are half are So little levels if sort a baseline in an with QX into and based the levels, growth we at around is you the QX single-digit that year. from assuming of expectations which going what increased gross-to-nets, our we're range look we're in where the seeing

that around the be the unemployment we the gross-to-nets expectation So again, for across have has of medication on higher and more our given for because, accessing which through discounts. country, VIVITROL XX% the more patients full to that year, are Medicaid, rates slightly going

the of So modest us $XXX then flow a to increase and in with headwind range million. $XXX gives million that patient gross-to-nets

Todd Nichols

this address alternative actually Jason, I'll is sites. you glad the question. Todd. injection that on questions I'm asked

provider approximately Albertsons May. May, add sites a umbrella to We we Albertsons network That press X,XXX. from added we did injection now majority locator. that did in through our XXX issue in alternative release a May to remember is number of the in close stores You'll

and two expanding making in pleased, months, footprint. over providing that of our the progress we're approximately we're just little a So very just

coming that on think increased I expanding our are the customers through message, we actively of type that is patient that's we there, from little footprint. It's really do give are you seeing are that of appointments our they a type the but flowing channel. hear that pharmacy qualitatively through volume key early is any specifics to the

encouraged that. So we've are very by

Operator

you. Thank

question. Our the Evercore from comes ISI. next with of Umer Raffat proceed question Please your line with

Umer Raffat

guys so you percentage can may understand. asked also studies us for to Richard, us because bipolar if Jim, for have and could work? I remind for questions. making two thanks of in there's for I much bipolar Hi, my Street ran bipolar? you of what remind getting taking are what first, the it in more DDI indication wonder risk Richard if And I outside volumes the than And may. olanzapine you if I one

of So the we of it broadly. on XX%. didn't today spend I Alkermes SG&A guidance. companies that Jim, only puzzled the because paired you, a has always magnitude just about it sales the SG&A I of lot company on more back the how talked down. feel gone that for have share as years. a and might Alkermes amount paired increased interactions quite very back like OpEx. has X% guidance. spends was OpEx R&D biopharma And be see I'm to was have that the understand puzzled the But in down, helpful over come OpEx And in was

balance if And that is clinical where sheet then, with now Richard, this could perhaps possibilities any out-of-the-box transaction. commercial shared? can either meaningful do for any Was SG&A I players, several on talk about, Alkermes stage note to you don't the have other there there out-of-the-box of expense possibilities stage. you are if could or you So be them late neuropsych that. any speak realized to

Richard Pops

Good morning. Yes.

bunch So there. in a there's

if pick used it's schizophrenia, which promoted in it's not through olanzapine schizophrenia. in the indicated in and can in first Sandy bipolar. obviously, probably you line specific But bipolar and I not Let's because it's of see disease all. percentage could them is interesting significant used both give that's

time to research prescribers efficacious don't is that convincing the a olanzapine is efficacy. market So it of very we olanzapine highly spend the found clinicians drug. idea are receptive that in what need We to the

the drug-drug mid-cycle similar show agents. One a and bridging patients agreeing would with in of On I the the the the to in essentially be bipolar I these the advance, that or that. confirmed inclusion FDA was the I bipolar label intact. bipolar that that they strategy used with want interactions is we indication, And which meeting, to PK with make. exposures to bipolar commonly them did there's of satisfied were couple At we support registration points that is with other studies

that At So last Umer? an indications was one, asked same time your you there's the label. no with we've what the receiving the I had just we the received schizophrenia issue last bipolar And label. me,

Umer Raffat

either I guess commercially so players many or my question now, in the that Richard, really was, neuropsych space with clinically.

Richard Pops

Oh, this Yes. And Yes. the call, emphasized of great commercial question. in we No, investments infrastructure. think the in why I psychiatry part it's reason the a that it's we've made

particularly, of other absolutely. and a medical you our and begin Medicaid span a as belief realize drugs the reimbursement need think complicated Because environment commercial fixed dual I additional that to that But daunting example companies the building first of single have affairs for environment, I so very be think environment, have companies the undertake that. And of is product. to amount we and that investors those particularly And payer leverageable. a foundation products hope of we're complicated complicated it's through launch they eligibles. in able or to to amount as to a Medicare, certain put what a infrastructure XXXX commercial populations, is minimized that. terms address commercial, expense the will might cost as patient well be to these

corporate part of long-term that's So objective. our

Sandra Coombs

bipolar close And the loop the on I'll question. just

atypical XX XX% nearly total and of prescriptions about are XX% olanzapine that market share. antipsychotic about represents in of disorder, So bipolar

James Frates

investments just the commitment to trying I we're side think OpEx to I it's Jim our in, non-GAAP profitability. on Umer, I might demonstrated mean, chime And our there. and we've

at that we're I think structure and we're we cost look every spending. what year make our justifying sure

do underinvest launch preparations though XXXX. make also in are with with sure we for This the could and the that's can marketing with on the we're year, infrastructure those most to VIVITROL, we've important on the is we expenses in capabilities, importance so I spend obviously certainly thing are required in that some the think work to potentially addiction. want be in side And this if XXXX I we that. others, these as we we ARISTADA, for have and to sales has psychiatry launch. of unique say, be expectation continue XXXX I These even touched important very and the And in that put think launch Rich side to products a our of drug resources, of potential XXXX do increasing through we'll in the the for more leverage preparation built might to sell will that areas. us. sharing don't just XXXX we the

to an can to expenses So as as we'll as those and we keep to leverage work on continue efficient we as eye operating much can. those and be

Umer Raffat

much. very Thank you

James Frates

Yes.

next the question please. take will We

Operator

you. Thank

question next Please of with Matteis Our the Paul Stifel. from comes line your question. proceed with

Unidentified Analyst

Hi, This the Paul. first question. for is Nate on Maybe [ph]

I elaborate think expected had expectations I sales I originally in you was XXX somewhere you force correct around reducing And sales slightly stating to your around that? reps? heard guys mention Could maybe the XXXX. correct am I XXX guys build for you on new

Sandra Coombs

Yes.

Todd Nichols

Todd. take correct. is I'll Yes. this And that you're Nate, question.

that at look Our between would we the take to a representatives. original COVID marketplace. stock, add XXX XXX is has take sales to COVID allowed to us prior assumption

going continue with promotion have results I we date we focus earlier, good mentioned and we're some improve As to building hybrid to and it. now with and is our really personnel capability right believe this to that,

mid- going to closer of be low be we assumption as XXX We to to XXX finalizing believe sales original range that launch. get going in our and that we're So now, to to was representatives. the number that's

Unidentified Analyst

VUMERITY guys brought tone heard you a yet, Got shift you. up on we any have quarter. this significant ground? Biogen And do then in the mean, maybe what's happening from as into visibility I

Richard Pops

to that in Nate, just beginning, of that They're would charge of VUMERITY VUMERITY. go to hopeful secret say I launch, and it's early in to understanding Biogen, we're okay? the really days this the Rich. is we're

Unidentified Analyst

Fair enough. Thanks, Rich.

Operator

Thank you.

Marc with with SVB the Our your line next question comes question. of Goodman Leerink. from Please proceed

Marc Goodman

morning. Good

prepared payer you little remarks can color a First, You were give more XXXX. for mentioning in interactions? us your on your

to about talked profitability. commitment you've a Second,

we on spend little R&D. driving be bit additional a the basis? Or to of managing next the to assuming still million is were that with across just you're be specific should just was programs I profitability launch $XX year, you curious, that board? cut? And Any a will XXXX very just non-GAAP that So quickly, cutting

Todd Nichols

this part on is Todd. Mark, first Hi payer take I'll interactions. the

I of of interactions prepared the say that U.S. with As covered approximately would product class understanding of category. in the had now settled, They right branded. value the have somewhat the about payers represent in that thus remarks, I number class priority is the of coming lives the any category. one of and XX% is the my has interactions in believe product meaning general, said within first far, antipsychotic clinical also XX% The expected. one, their question, market is oral the number XX% the into that, we've the been their payers, generic

common branded type some of very to generic a it's within so have products. And occurrence agents step-through

branded entity. is product. a molecular It new is a As you know, XXXX ALKS

Our be expectation that. to and product for will be such situations going there branded it's prepared that that and a as therapy too, treated are where is be step-through there will well, as we

Richard Pops

Yes. I'll financial on Mark, touch questions. the

that between not for year, lot the non-GAAP a commitment depend we've profitability for to be line As will XXXX top a on, to to XXXX, guiding yet the commitment grows we're will happen through and February. demonstrated our and us. XXXX our intention. certainly how in lot and working for can But this obviously profitability the world obviously, in But now

front. on So stay tuned that

On of mix some the savings. R&D side, of real some COVID-related it's rephasing been prioritization, a things and

work of across things those savings bring we each R&D we've So board down. to in the

we reprioritize key right, little focus So bit you're and to of programs, particularly it's XXXX. everything as on things a talk our

Marc Goodman

Thanks.

Operator

you. Thank

Securities. Divan Mizuho Our comes with from of the question with proceed question. your Please next Vamil line

Vamil Divan

have my taking follow on last separate the question. Maybe for question have thanks one and I one, Great, question. just can XXXX around if then I up

interactions the to any of physician the payer side. going kind and kind On bring of feedback in maybe from

of if see then, so makes which obviously, to question in Just have to XXXX, of about through olanzapine federal they've the all at level discussions. has will be come also using my up driver big XXXX It you olanzapine sort And really level seem on much focus olanzapine the the only pandemic. of around clear that's how opioid come of you here. like would sort generic funding pandemic to Obviously, with weight a in like greater or with patients a me in gain the dynamic course, to that more around or opioid worsened. any uptake Curious generic it would state not curious, some for and sense. at addiction. is that's go because crisis VIVITROL yet specifically, this payers been The generic shown the work? supporting that the does if Do if as other crisis, on the way, help of you funding but other just push now there's exist given real all needs the sounds

timing you're the about epidemic. sensing just maybe more for opioid support level in around of government talk So what Thanks. you from terms can the

Todd Nichols

is this Vamil, Hi Todd.

for over that sources available in There's as which working community up At this just of that. any last billion $X.X going with a in north recently that's we're well, said level. remarks, type and sources federal program this that approximately certified minutes secondary epidemic question this There's currently decline for was health $XXX available seeing at centers. to example with response address I in closely of opioid available. of be state is of right well. states as opioid year. I'm An This primary The is a epidemic. very the start XX awardees is the of the that's and period. to behavioral that and that most two-year first million We, funding. primary prepared XXX me grants, are my actually opioid introduced funding to U.S. the now, Let of on mapped this spend to a few funding not point that's We've

seeing level. not the any federal changes we're So at

is primary has access really source available comes for Medicaid through of a actually Medicaid. and XX% the to VIVITROL VIVITROL state plans Secondly, benefit. access lives pharmacy is with wide of funding on state having

could very too. in the the that impact we're as are local impact could that. that happened funding with we sources at funding that impact it state really could so is areas that closely shape sites level we're secondary watching good programs, The with very that recovery providers, well, So

major to closely. seen point any haven't there this disruptions We at we're well, that as but watching be very going

VIVITROL, is broad VIVITROL has available is key the for and wide accesses that available key to message, patients. the So takeaway funding

settled interactions the having agents believe the fourth-line XX% second-, including are that third- with option prescriptions olanzapine, being or ago, somewhat of payers general, the terms market just ideal a said in typically failure not generic. reserved a patients. is patient as through a In Branded as XXXX, for of minutes well. with I is after few step generic But generic, any all for

market about olanzapine, I bipolar through on different the different products, in schizophrenia, with seven opportunity to about is of time, closely cycle very for watch XX% cycle we about average, have on cycled patients the patients that given Patients at five Something any already disorder of through about XX% patients. products.

is to So not light, like product do market for tolerate like that step a through XXXX. is if have there a an ALKS even option there olanzapine opportunity in those olanzapine, a patients

Operator

Thank you.

of from comes with question line Wainwright. Douglas the H.C. proceed your next Our Tsao Please with question.

Douglas Tsao

Hi, good Thanks taking for questions. morning. the

sensitivity terms a of sort quite you've terms in sort resurgence, I COVID-XX seen dramatic VIVITROL, resurgence if curious terms seen many seen statewide seen actions being pullback shelter-in-place of seen in in in even though we've because just haven't orders we the Just of across of as states, implemented. you've any of as we've a was

on is virus outbreaks. Massachusetts are obviously the conditions you a know that for see a have And recently more VIVITROL. significant July? of terms much in if basis a continued And the state, to important had an into of in I weeks you a success seeing other state are particular and have seen how Thank growth have that on you state there for controlling the lot but you. of and that state seems states of of see like, also, early based you sort sort to state-by-state so sensitivity And

Todd Nichols

any question. gradual this seen VIVITROL. haven't of point, the Doug, that thanks recovery pullback for we asking trend, in At terms the with

really frame. as We QX. May the The April Jim time said haven't impact, states happened the certain earlier, in middle that of any and with was in of towards country. real That across seen the to resurgence really the beginning

We haven't settings. seen of pullback any in controlled terms

said are the and Rich As care more earlier, see, and starting controlled patients to up we're loosen starting are our access actually customers from we well settings qualitatively to as of treatment. hear this to getting that

message pullback So the we any this is aren't seeing at main point. that

Douglas Tsao

much. very Okay, great. Thank you

Operator

Thank you.

Our Please with next from Tewari line with Research. question proceed Akash comes question. of Wolfe your the

Akash Tewari

much. so thanks Hey,

margins. just on mostly two, So

us as product are off-patent? you can solely what have how think and your in really the given gross-to-net margins settlement ticked ARISTADA? years, but over with VIVITROL there's with you kind current an of that market. we on then and MAINTENA uncertainty kind scripts the few kind of years, haven't remind ABILIFY focusing evolve It over drugs ever will next how last evolving ARISTADA, up And and for Teva particularly of XXXX few goes thought that shareholders, schizophrenia business profitability of the the outreach three out-of-the-box like kind this on looks and with about increased should about idea, is For the divesting

something possibility? in of is the realm that is even that Thanks So lot. a

James Frates

Sure.

we We're top as in them, the some At growth those ARISTADA side, are stage is margin manufacturing are can line the high products, they're our our of those margins in as XX% the understand see On this efficiencies. margins if commercial gross and profitable, as grows, the both you margins seeing level. improve well, profitable.

infrastructure we to an drive growth line so get of the obviously, important out line the top where to to our continue And top going grow. we're area more continues to as because, can invest that's leverage

the we top XX% coming we the VIVITROL XXXX changing now, to Hard predictions just the the growth XX% to this consider think still, opioid VIVITROL that's see be see product. nice in a growth look and XX% their states XX% is, the the highlight some of sales. ahead. five the and after very In treatment it and or can of value as of VIVITROL. top a they remind frankly, VIVITROL on part the the divesting sales. we substantial we I five where That and real. a of growth opportunities role medication have when understand outsourcing and those in make even growth Yes. the We opportunities value, options, or used understand shift of still, XXXX, state-by-state states that the the unique opportunity opportunities treatment a And in The down, accelerating. really a of the And think, now quite back like of quite feel things, market alcohol shifted terms be states are there hasn't I policies, and market, treat addiction at sorts it's of an years on places but in in overall. Texas VIVITROL like crisis can strategic to we were VIVITROL, we of years we always look mental rates being were and treatment would of really in illness, think is as basis, seeing It's there. California play time dependence. or addiction treating I'll that of for there paradigm non-addictive but important for important It's you the to dependence I serious while frame, said,

have We the profitable It's us. for infrastructure.

we at this stage, And see so potentials VIVITROL. here from upside for

Akash Tewari

Thanks so much.

James Frates

You're welcome.

Operator

Thank you.

comes Your your question. Sachs. Goldman of from with question next Terence the proceed with line Flynn Please

Terence Flynn

to And XXXX larger us? that quantify then with targeting the program? investing what will just virtual any question. Can taking here base XXXX, you'll yet you Hi, continue wondering a FDA for for for be a more clarity see from you was you. Thank And on XXXX. me. thanks inspection mentioned prescriber to be you ESMO, sufficient. two for in just you I hoping the if just if at had On Maybe are

Sandra Coombs

of... sort you Can

Richard Pops

Sandy, Rich. guys is can you This it. me? Got hear

Sandra Coombs

hear you. Yes, we can

Richard Pops

before. my I good. phone Okay, connection lost

brand-new obligations the issues or So here XXXX, only the XXXX and has may things because the that Terence, inspection in They've the have there. down XX that facilities or in that then publicly it's a with case issues. of on said inspectional facility it's concerns advantage out their existing has FDA at the In slow interesting, the that be we PDUFA site Wilmington, pointed inspected. with a facilities manufactured their FDA can

CMC gotten FDA. we've questions from So

will We has that presentation. Recall that ESMO, accepted or case. done in hope for has been the expect components. be remotely XXXX inspection to the data that ARTISTRY-X oral be able that three we're virtually excited and ARTISTRY-X

recommended in Phase at year, had determination was component data to last expansion our dose, what which renal the which When with dose. that [ph]. in One II dose SITC into is presented first the monotherapy cell pembro we we we II two combinations moved and which The escalation, carcinoma of And in C, cohorts. recommended melanoma. the is led Phase we call then Part

at data the you'll share is with in So see we later ESMO. B which and data Part And ARTISTRY-X, from subcutaneous C Parts the from to then quarter. expect you protocol

Todd Nichols

the target I'm we've given we on about. Todd. the question HCP this so. excited address going really and lot audience. a we're that do thought, to something is of continue actually This Terence, And to is will

that of be commercial full is new And this illness. commercial opportunity the we're an mental serious you a going the capabilities company As our power we're and know, excellent to infrastructure. leveraging our not as to

around is the XX,XXX would XX% neighborhood now right audience HCPs. about be a that, that thinking Currently, current Our cover north bit the little XX,XXX. we of somewhere of target of in

us our with starting be infrastructure, fully to fresh we allow able be won't So new preparation will and maximize current the those CPs. majority will our launch or of

Sandra Coombs

Great.

Melissa. We have time one for more please, question,

Operator

Thank you.

the of proceed this your Jefferies. Mukherjee line final Please question. from morning with will with come Jeet question Our

Jeet Mukherjee

for Hey managing guys, question. for I'm to my thanks on get today. Biren

questions. quick two Just

other Just VIVITROL the could compared its how to in conversion to newly class. that Is did us LAIs start growth percentage much ARISTADA, decline? patients this new on a of you from LAI basically to And be on remind clearly, terms, exceeding patients? diagnosed Thanks. seems

Todd Nichols

I'll both those. Yes. of take Todd. is This

saw the starts. first declined for approximately with patients VIVITROL So new in patient terms starts quarter-over-quarter. VIVITROL, a new XX% decline overall in market

the other from actually comes conversion, I for the key of terms the Approximately orals. source the ARISTADA. business of ARISTADA, from XX% is business question key comes think and of source point, In of LAIs, the the actually really remaining

typically LAIs products and ARISTADA are that yes, use. so, naive not And patients

orals there including products, from So and LAIs a is as other shorter-acting conversion also well.

Jeet Mukherjee

Great, thank you.

Sandra Coombs

joining your call us everyone on Thanks, I Great. appreciate for All today. time. right. the

don't follow-up questions, Thank reach out hesitate to any company. have you please If to you. the

Operator

Thank you. today's conference. concludes This

lines your disconnect participation. Thank may You time. you at your for this

Alkermes (ALKS) 29 Jul 202020 Q2 Earnings call transcript