Brief: Alkermes PLC Announces Intent To Separate Oncology Business

Alkermes

02/11/2022 11:30

Nov 2 (Reuters) - Alkermes Plc  ALKS.O :
    * ALKERMES PLC ANNOUNCES INTENT TO SEPARATE ONCOLOGY
BUSINESS
    * ALKERMES PLC - ALKERMES TO FOCUS ON PROFITABLE GROWTH OF
PURE-PLAY, COMMERCIAL-STAGE NEUROSCIENCE BUSINESS
    * ALKERMES PLC - ANNOUNCED APPROVAL BY ITS BOARD TO EXPLORE
SEPARATING COMMERCIAL-STAGE NEUROSCIENCE BUSINESS AND
DEVELOPMENT-STAGE ONCOLOGY BUSINESS
    * ALKERMES PLC - PLANS TO EXPLORE A SEPARATION OF ONCOLOGY
BUSINESS INTO AN INDEPENDENT, PUBLICLY-TRADED COMPANY (ONCOLOGY
CO.)
    * ALKERMES PLC - COMPANY WOULD EXPECT TO INCUR TRANSACTIONAL
AND
SEPARATION EXPENSES AS PART OF A PROCESS TO SEPARATE AND
TRANSITION TWO BUSINESSES
    * ALKERMES PLC - ALKERMES WILL CONTINUE TO CAREFULLY MANAGE
COST
STRUCTURE OF EACH BUSINESS
    * ALKERMES PLC - ANTICIPATES ONCOLOGY CO. WOULD BE LOCATED
WITHIN
COMPANY'S EXISTING WALTHAM, MASS. CAMPUS
    * ALKERMES PLC - FACILITIES AND RESEARCH AND MANUFACTURING
OPERATIONS IN WILMINGTON, OHIO AND ATHLONE, IRELAND WILL REMAIN
WITH ALKERMES
    * ALKERMES PLC - SEPARATION, IF CONSUMMATED, IS EXPECTED TO
BE
COMPLETED IN SECOND HALF OF 2023

Source text for Eikon:  ID:nPn3QKvCpa 
Further company coverage:  ALKS.O 
 ((Reuters.Briefs@thomsonreuters.com;))