Sarissa Capital Management LP said it plans to vote for the Alkermes (ALKS) slate of directors at the upcoming annual meeting. However, Sarissa noted that if its representative is not soon appointed to the board, then it will take steps under Irish law to quickly call another shareholder meeting.
Sarissa believes that certain of the independent directors of Alkermes are uncomfortable making decisions that are not supported by, or that reflect criticism of, CEO Pops.
"We believe Alkermes' shares are significantly undervalued and that we can help to unlock shareholder value with our representatives on the board. We are hopeful that the current board will agree with us," Sarissa stated.
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