Corrected: BUZZ-Alkermes rises on oncology business spinoff plans

Alkermes

02/11/2022 14:16

(Corrects fourth bullet to say adjusted profit, not profit)
    ** Shares of Drugmaker Alkermes  ALKS.O  up 1.6% at $23.62
    ** ALKS announces plans to spin off oncology business into
separate co  urn:newsml:reuters.com:*:nPrezRw9Ba
    ** Separation is expected to be completed in H2 2023
    ** Co also raises outlook for 2022; now expects to make
adjusted profit of $0.15–$0.33 per share on rev of $1.07
bln–$1.12 bln  urn:newsml:reuters.com:*:nPncFhJXa 
    ** Including session's gain, stock up 1.6% YTD
 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((nandhini.srinivasan@thomsonreuters.com))