Alkermes Plc at Cantor Fitzgerald Global Healthcare Conference (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : Maybe just bringing in, Rich, thank you very much for joining us. Can you just give us a brief overview of where Alkermes is currently? I think most people are familiar with the company. But just in terms of how has COVID continued to impact the business post the second quarter.

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : Great. And I do want to come back to the commercial business. But I guess I'm going to dive in straight into 3831 just because of the timeliness around AdCom, right? So we have the AdCom, I think, it's scheduled for October 9. Maybe just from your side, can you talk a little bit about the aspects you expect the committee will really drill down into? And then maybe on the attenuation of weight gain, can you talk a little bit about how you see the data? There was some misinterpretation from the investment community. Any insights in terms of how you think the FDA is going to interpret that data?

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : Maybe just staying on that point, the opioid question that was raised. Is this patient population that -- I mean, to me, it doesn't seem like one that would be on a lot of opioids, but -- sorry, let me rephrase it. That would be -- have any opioid usage different to the general population? Is that right? Or is this a population where we do see a higher usage of opioids that with that label claim, it may be something that prescribers need to just be a little bit more aware of?

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : Great. And then just switching back to the weight part of the question, right, because I think that's something that people have focused on. As we've -- as you've had more time to really be out then educate KOLs or physicians who present the data, can you just talk about that newest or what is the reception you're getting from the actual prescribing community, right, in terms of mitigating that weight gain versus the limitations around a trial where you're shifting a population and you may have people dropping out who do gain significant weight?

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : Okay. And then maybe in terms of launch preparations, where are you with that? Or when should we expect launch preparations to ramp up?

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : To begin to ramp up. Yes.

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : And maybe if I can just bring you in here quickly. Can we talk a little bit about, obviously, there's been a lot of discussion about Alkermes and what they may look to buy in terms of business development. Obviously, you have a very sound company. How should we think about the liquidity of the company? And where you think about investing that liquidity over the next few years, given that you have the 3831 launch coming up as well as -- and I'm going to get to that next. But you do have this 4230 program that you have the option to invest behind as well or partner.

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : Thanks, Rich. Well, now I'm going to shift back to you because finding what Iain says, it's 4230, right? And you've got an event or you -- you got to put a new clinical data at virtual ESMO. And you're host -- you're going to do the mini oral presentation and you're hosting a call. Without obviously giving away too much, as I'm sure you can't, how should you how should we think about what we could see from 4230 and -- on Friday and is this an inflection point? Or is this an incremental data point build into something larger down the line?

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : Great. I think we're all looking forward to seeing what you had to present on Friday. Maybe just coming back to your commercial business. ARISTADA did do very well, as you mentioned, in the second quarter. This was in spite of COVID. But on the same token is, how do you think COVID was a perfect situation where it really highlighted the benefit of the 2-month dosing? Can you just talk a little bit about the dynamics you're seeing with that product? Yes, I think we'll get to guidance later. So let's -- I don't have to drill down there yet. But do you think that the switch to the 2-month product is something that's going to be a tailwind far beyond COVID?

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : I agree. And just maybe pivoting on to VIVITROL quickly. We've got about 4 minutes left. So I just want to touch on VIVITROL and then on the guidance, one question later. So obviously, this product was impacted due to COVID, but it remains a very good product. We've seen opioid deaths creep up again, and we've heard anecdotally about opioid addiction during the COVID crisis creeping up as well as alcoholism, I'm sure, is something that we're going to need to deal with coming out of COVID. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 16, 2020 / 2:40PM, ALKS.OQ - Alkermes Plc at Cantor Fitzgerald Global Healthcare Conference (Virtual) How do you think -- well, maybe one, firstly, any color on how VIVITROL is trending? I think, as you mentioned, new patient starts is a big challenge in this environment. And when or how should we think about VIVITROL returning to a normalized run rate? And maybe getting some of these tailwinds that COVID created additional problems for?

Question: Brandon Richard Folkes - Cantor Fitzgerald & Co., Research Division - Analyst : Great. Rich, again, we are out of time, but thank you very much for joining us today. I think it's a very informative discussion. Look forward to hearing from you on Friday. And good luck for the October 9 AdCom. Thank you very much, and that ends the session today.