Plus   Neg

Alkermes Guides FY19 Revenues Higher Than Estimates - Quick Facts

Biopharmaceutical company Alkermes plc (ALKS) on Thursday initiated earnings and revenue for fiscal 2019. The company now projects earnings in a range of $0.87 to $1.06 per share and adjusted earnings in the range of $0.26 to $0.45 per share.

The company also said it now projects full-year 2018 revenues between $1.14 billion and $1.19 billion, up from its previous expectation range of $975 million to $1.025 billion, including expected Vivitrol net sales in a range of $330 million to $350 million, and Aristada net sales in a range of $210 million to $230 million.

The projected revenues are driven by expected about 24 percent growth of the company's proprietary products and an expected $150 million milestone payment from Biogen in the fourth quarter related to the potential FDA approval of diroximel fumarate.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.56 per share on revenues of $1.10 billion for the year. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.
Follow RTT