Jefferies sees promising future for Alkermes' mental disorder therapy

Alkermes

25/03/2022 16:51

** Jefferies remains confident on long-term opportunities
for drug developer's  ALKS.O  mental disorder therapy, Lybalvi
    ** U.S. FDA approved Lybalvi for schizophrenia and bipolar I
disorder in June  urn:newsml:reuters.com:*:nL3N2NJ33T
    ** Brokerage says Lybalvi's weekly total prescriptions (TRx)
and new prescriptions (NRx) trajectory looks solid and better
than other antipsychotics
    ** In 2022, TRx has achieved an average weekly growth rate
of ~6.8%, NRx has achieved an average weekly growth rate of
~5.8%, higher than the average level of other antipsychotics -
brokerage
    ** Models peak sales of ~$785 mln
    ** Three out of 10 brokerages covering the stock rate it
'buy' or higher, six rate 'hold' and one 'sell'; their median PT
is $27
    ** Stock up 15.91% YTD, including session moves


 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))