Alkermes plc. — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 58/100
What the filing says
Alkermes reported Q3 2026 total revenues of $480.1M (vs. $394.2M in Q3 2025), with GAAP net income of $16.3M and Adjusted EBITDA of $120.1M. The company completed its acquisition of Avadel Pharmaceuticals on February 12, 2026, adding the narcolepsy drug LUMRYZ, which generated $89.9M in Q3 2026 net sales with ~4,100 patients on therapy. For full-year 2026, Alkermes reiterates guidance: total revenues $1,730M–$1,840M, Adjusted EBITDA $370M–$410M, and GAAP net loss ($95M)–($115M), reflecting $1.8B in LUMRYZ intangible assets (14-year amortization) and ~$105M inventory fair value step-up expense. Interest expense of $74.4M YTD reflects debt financing of the acquisition.
Why this rating
Material M&A integration on scale (~$1.8B IP, debt-funded), meaningful revenue boost (~44% YoY growth), but offset by integration drag, near-term GAAP losses, and high intangible amortization relative to $4.7B market cap. Guidance reiteration signals stability post-acquisition.
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