Alkermes plc is a global biopharmaceutical company that researches, develops, and commercializes medicines primarily for central nervous system (CNS) diseases. The company's business model centers on leveraging its proprietary drug delivery technologies and neuroscience expertise to create treatments for complex psychiatric and neurological conditions. Alkermes generates revenue primarily through the sale of its proprietary commercial products, which include VIVITROL (for alcohol and opioid dependence), ARISTADA (for schizophrenia), LYBALVI (for schizophrenia and bipolar I disorder), and LUMRYZ (for narcolepsy, added via the 2026 acquisition of Avadel Pharmaceuticals). The company also earns manufacturing and royalty revenues from third-party products that utilize its technology platforms, such as long-acting injectable formulations. Geographically, while Alkermes is domiciled and headquartered in Dublin, Ireland, its commercial operations and revenue generation are heavily concentrated in the United States, supported by R&D and manufacturing facilities in Massachusetts and Ohio. Competitively, Alkermes distinguishes itself through its established commercial infrastructure in psychiatry and addiction, and its strategic expansion into sleep medicine, highlighted by its late-stage pipeline of orexin 2 receptor agonists like alixorexton. In 2023, the company sharpened its focus as a pure-play neuroscience company by spinning off its oncology business into Mural Oncology.
