Dublin — Alkermes plc reported second-quarter 2026 revenue of $496 million, up from $390.7 million a year earlier, as sales from its proprietary drug portfolio increased.
The company posted GAAP net income of $0.5 million, compared with $87.1 million in the second quarter of 2025. Adjusted EBITDA rose to $139.2 million from $126.5 million.
Alkermes also said Chief Operating Officer Blair Jackson will become chief executive officer on Aug. 1. Richard Pops will continue as chairman of the board.
“The second quarter was marked by strong commercial performance and meaningful progress across our pipeline as we continued to execute on our strategic priorities. Our commercial portfolio consists of differentiated products that are positioned to generate substantial revenue and cash flow for years to come. At the same time, our orexin 2 receptor agonist portfolio represents a potentially transformational growth opportunity for Alkermes and positions us at the forefront of one of the most exciting new therapeutic categories in neuroscience,” Pops said.
“As I prepare to transition the Chief Executive Officer role, I do so with tremendous pride in what this organization has achieved and great optimism for its future. Blair and the leadership team are well positioned to build on this momentum and lead Alkermes through its next phase of growth, innovation and value creation, and I look forward to supporting them in my continuing role as Chairman,” he added.
Total proprietary net sales increased to $411.7 million from $307.2 million a year earlier.
VIVITROL revenue rose to $124.5 million from $121.7 million, while ARISTADA revenue declined to $96.7 million from $101.3 million. LYBALVI revenue increased 12% to $94 million, with total prescriptions rising 18%.
LUMRYZ generated quarterly revenue of $96.6 million, including about $7 million related to the timing of inventory shipments. Alkermes acquired LUMRYZ through its February acquisition of Avadel Pharmaceuticals plc.
Manufacturing and royalty revenue included $30.6 million from VUMERITY, $27.5 million from the XEPLION and INVEGA product franchises, and $20.9 million from RISPERDAL CONSTA.
Research and development expenses increased to $112.9 million from $77.4 million, while selling, general and administrative expenses rose to $217.6 million from $170.8 million.
The company recorded a $26.4 million increase in the fair value of contingent consideration tied to an Avadel acquisition milestone. The adjustment followed positive topline results from a Phase 3 study of LUMRYZ in patients with idiopathic hypersomnia.
“As we move into the second half of the year, we have clear priorities and a sharp focus on execution. With our first ADHD data for ALKS 7290 expected in the coming months and topline results from our alixorexton phase 2 idiopathic hypersomnia study expected toward year-end, we are generating significant new datasets that may open new opportunities for our orexin 2 receptor portfolio,” Jackson said.
“With a talented team, a strong financial foundation and exciting opportunities ahead in sleep medicine and across our neuroscience portfolio, I am honored to step into the CEO role and continue building on the strong foundation for growth that Richard and the entire organization have established,” he added.
Alkermes ended the quarter with $691.6 million in cash, cash equivalents and investments, up from $538.2 million at the end of the first quarter.
The company maintained its 2026 revenue forecast of $1.73 billion to $1.84 billion and adjusted EBITDA guidance of $370 million to $410 million.
Alkermes now expects a GAAP net loss of $95 million to $115 million, compared with its previous forecast of $70 million to $90 million. It also lowered its EBITDA outlook to between $75 million and $95 million from the previous range of $105 million to $135 million.
