Alkermes is flying high into the second half of 2023 with its updated yearly guidance, thanks in part to back royalties and interest from an arbitration case with Johnson & Johnson’s Janssen.
Alkermes raised its financial expectations for the year by about $425 million after an arbitral tribunal ruled in favor of Alkermes in June in a licensing fight between the two companies. The back royalties and interest come from 2022 net sales of the Invega products for schizophrenia and 2023 royalty revenues from the same year’s global net sales.
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