Form 8-K

8-K — Alkermes plc.

Accession: 0001193125-26-318844

Filed: 2026-07-28

Period: 2026-07-28

CIK: 0001520262

SIC: 2834 (PHARMACEUTICAL PREPARATIONS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — alks-20260728.htm (Primary)

EX-99.1 (alks-ex99_1.htm)

EX-99.2 (alks-ex99_2.htm)

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8-K

8-K (Primary)

Filename: alks-20260728.htm · Sequence: 1

8-K

0001520262falseAlkermes plc.00015202622026-07-282026-07-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 28, 2026

ALKERMES PUBLIC LIMITED COMPANY

(Exact name of registrant as specified in its charter)

Ireland

001-35299

98-1007018

(State or other jurisdiction

(Commission

(IRS Employer

of incorporation)

File Number)

Identification No.)

Connaught House, 1 Burlington Road

Dublin 4, Ireland D04 C5Y6

(Address of principal executive offices)

Registrant's telephone number, including area code: + 353-1-772-8000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Ordinary shares, $0.01 par value

ALKS

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 28, 2026, Alkermes plc (the “Company”) announced financial results for the three and six months ended June 30, 2026 and updated certain financial expectations for the year ending December 31, 2026. Copies of the related press release and the investor presentation to be displayed during the Company’s conference call on July 28, 2026 discussing such financial results and expectations are furnished herewith as Exhibit 99.1 and Exhibit 99.2, respectively. This information, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

EXHIBIT INDEX

Exhibit No.

Description

99.1

Press release issued by Alkermes plc on July 28, 2026 announcing financial results for the three and six months ended June 30, 2026 and financial expectations for the year ending December 31, 2026.

99.2

Investor presentation to be displayed by Alkermes plc on July 28, 2026.

104

Cover page interactive data file (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ALKERMES PLC

Date: July 28, 2026

By:

/s/ Joshua Reed

Joshua Reed

Senior Vice President, Chief Financial Officer (Principal Financial Officer)

EX-99.1

Filename: alks-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Alkermes Contacts:

For Investors:

Sandy Coombs +1 781 609 6377

For Media:

Katie Joyce +1 781 249 8927

Alkermes plc Reports Second Quarter 2026 Financial Results

— Second Quarter Revenues of $496.0 Million —

— GAAP Net Income of $0.5 Million and Adjusted EBITDA of $139.2 Million —

— Blair Jackson to Assume Chief Executive Officer Role on August 1, 2026; Richard Pops to Continue as Chairman of the Board of Directors —

DUBLIN, July 28, 2026 — Alkermes plc (Nasdaq: ALKS) today reported financial results for the second quarter of 2026.

“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,” said Richard Pops, Chairman and Chief Executive Officer of Alkermes. “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.”

“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,” said Blair Jackson, Chief Operating Officer of Alkermes. “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.”

Key Financial Highlights

Revenues

Three Months Ended

June 30,

Six Months Ended

June 30,

(In millions)

2026

2025

2026

2025

Total Revenues

496.0

390.7

888.9

697.2

Total Proprietary Net Sales

411.7

307.2

749.8

551.7

VIVITROL®

124.5

121.7

236.9

222.7

ARISTADA®i

96.7

101.3

190.5

174.8

LYBALVI®

94.0

84.3

186.3

154.3

LUMRYZ®

96.6

—

136.1

—

Profitability

Three Months Ended

June 30,

Six Months Ended

June 30,

(In millions)

2026

2025

2026

2025

GAAP Net (Loss) Income

0.5

87.1

(66.0)

109.6

EBITDA

49.0

101.6

18.8

124.3

Adjusted EBITDA

139.2

126.5

219.5

172.1

Revenue Highlights

Proprietary Product Revenues

•

LYBALVI revenues for the quarter were $94.0 million. Revenues and total prescriptions grew 12% and 18%, respectively, compared to the second quarter of 2025.

•

ARISTADAi revenues for the quarter were $96.7 million. During the quarter, the company recorded ARISTADA revenue of approximately $4 million related to gross-to-net favorability, primarily driven by favorable patient mix.

•

VIVITROL revenues for the quarter were $124.5 million. During the quarter, the company recorded VIVITROL revenue of approximately $4 million related to gross-to-net favorability, primarily driven by favorable patient mix.

•

LUMRYZ revenues for the quarter were $96.6 million, which included approximately $7 million of inventory benefit due to timing of shipments.

Manufacturing & Royalty Revenues

•

VUMERITY® manufacturing and royalty revenues for the quarter were $30.6 million.

•

Royalty revenue from XEPLION®, INVEGA TRINZA®/TREVICTA® and INVEGA HAFYERA®/BYANNLI® for the quarter were $27.5 million.

•

Manufacturing revenue from RISPERDAL CONSTA® for the quarter was $20.9 million.

Key Operating Expenses

Three Months Ended

June 30,

(In millions)

2026

GAAP

2026

Transaction Adjustments

2026

Non-GAAP

Adjusted

2025

GAAP

Cost of Goods Sold

98.1

31.0

67.1

49.5

R&D Expense

112.9

0.1

112.8

77.4

SG&A Expense

217.6

1.3

216.3

170.8

Six Months Ended

June 30,

(In millions)

2026

GAAP

2026

Transaction Adjustments(1)

2026

Non-GAAP

Adjusted

2025

GAAP

Cost of Goods Sold

159.7

43.8

115.9

98.7

R&D Expense

216.3

8.2

208.1

149.2

SG&A Expense

482.2

56.6

425.6

342.6

(1)

Includes $20.2 million of share-based compensation expense related to the acceleration of vesting of equity awards for former Avadel Pharmaceuticals plc (Avadel) employees which vested in full upon the closing of the transaction.

•

During the quarter, the company recorded a change in the fair value of contingent consideration of $26.4 million, related to the CVR milestone associated with the acquisition of Avadel, which was deemed more likely to be achieved following the recently announced positive topline results of the phase 3 study of LUMRYZ in idiopathic hypersomnia.

Balance Sheet

•

At June 30, 2026, the company recorded cash, cash equivalents and total investments of $691.6 million, compared to $538.2 million at March 31, 2026.

Financial Expectations for 2026

All line items are according to GAAP, except as otherwise noted.

(In millions)

Previous 2026 Expectations

(provided May 5, 2026)

Updated 2026 Expectations

(provided July 28, 2026)

Total Revenues

$1,730 – $1,840

VIVITROL Net Sales

$460 – $480

LYBALVI Net Sales

$380 – $400

ARISTADAi Net Sales

$365 – $385

LUMRYZ Net Sales a

$315 – $335

Cost of Goods Sold b

$320 – $340

R&D Expenses

$445 – $485

SG&A Expenses

$890 – $930

Amortization of Intangible Assets c

$75 – $85

Change in the Fair Value of Contingent Consideration d

—

~$25

Net Interest Expense

$75 – $85

Net Tax Benefit

~$0

GAAP Net Loss e

($70) – ($90)

($95) – ($115)

EBITDA f

$105 – $135

$75 – $95

Adjusted EBITDA f

$370 – $410

The acquisition of Avadel closed on Feb. 12, 2026. LUMRYZ Net Sales expectations represents the period of Feb. 12, 2026 – Dec. 31, 2026.

In connection with the acquisition of Avadel, the company will record approximately $125 million of LUMRYZ inventory fair value step-up; the company expects that approximately $105 million of this amount will be expensed in 2026 as this inventory is sold.

In connection with the acquisition of Avadel, the company expects to record approximately $1.8 billion of intellectual property related to LUMRYZ, which will be amortized over an expected life of 14 years.

In connection with the positive topline results of the LUMRYZ phase 3 study in idiopathic hypersomnia, the company recorded an increase of $26.4 million in the fair value of contingent consideration related to the Avadel acquisition contingent value right (CVR) milestone.

Expected 2026 weighted average basic share count of approximately 169.1 million shares outstanding and a weighted average diluted share count of approximately 172.8 million shares outstanding.

Non-GAAP measure.

Conference Call

Alkermes will host a conference call and webcast presentation with accompanying slides at 8:00 a.m. ET (1:00 p.m. BST) on Tuesday, July 28, 2026, to discuss these financial results and expectations and provide an update on the company. The webcast may be accessed on the Investors section of Alkermes’ website at www.alkermes.com. The conference call may be accessed by dialing +1 877 407 2988 for U.S. callers and +1 201 389 0923 for international callers. In addition, a replay of the conference call may be accessed by visiting Alkermes’ website.

About Alkermes plc

Alkermes plc, a mid-cap growth and value equity, is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. The company has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder and narcolepsy. Alkermes’ pipeline includes late-stage clinical candidates in development for narcolepsy and idiopathic hypersomnia, and orexin 2 receptor agonists in early clinical development for other neurological disorders, including attention-deficit hyperactivity disorder (ADHD) and fatigue associated with multiple sclerosis and Parkinson’s disease. Headquartered in Ireland, Alkermes also has a corporate office and research and development center in Massachusetts and a manufacturing facility in Ohio. For more information, please visit Alkermes’ website at www.alkermes.com.

Non-GAAP Financial Measures

This press release includes information about certain financial measures that are not prepared in accordance with generally accepted accounting principles in the U.S. (GAAP), including EBITDA and Adjusted EBITDA. These non-GAAP measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies.

EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA excludes share-based compensation expense and non-recurring gains or losses in addition to the components of EBITDA from earnings.

The company’s management and board of directors utilize these non-GAAP financial measures to evaluate the company’s performance. The company provides these non-GAAP financial measures of the company’s performance to investors because management believes that these non-GAAP financial measures, when viewed with the company’s results under GAAP and the accompanying reconciliations, are useful in identifying underlying trends in ongoing operations. However, EBITDA and Adjusted EBITDA are not measures of financial performance under GAAP and, accordingly, should not be considered as alternatives to GAAP measures as indicators of operating performance. Further, EBITDA and Adjusted EBITDA should not be considered measures of the company’s liquidity.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release.

Note Regarding Forward-Looking Statements

Certain statements set forth in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: the company’s expectations concerning its future financial and operating performance, business plans or prospects, including expectations related to revenue, growth, profitability and value creation; and expectations regarding development timelines for, and the potential therapeutic and commercial value of, alixorexton and the company’s other development candidates. The company cautions that forward-looking statements are inherently uncertain. The forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks and uncertainties. These risks and uncertainties include, among others: the company may not be able to achieve its financial expectations, including those related to revenue, growth, profitability and value creation; clinical development activities may not be completed on time or at all; the results of the company’s development activities may not be positive, or predictive of final results from such activities, results of future development activities or real-world results; the unfavorable outcome of arbitration, litigation, or other proceedings or disputes related to the company’s products or products using the company’s proprietary technologies; the company’s products or product candidates could be shown to be ineffective or unsafe; the U.S. Food and Drug Administration or regulatory authorities outside the U.S. may not agree with the company’s regulatory approval strategies or components of its development programs and may make adverse decisions regarding the company’s products; the company and its licensees may not be able to continue to successfully commercialize their products or support revenue growth from such products; potential changes in the competitive landscape impacting our products, including earlier than anticipated entry of competition from generic forms of our products or competitive products and negotiated maximum fair pricing of competitive products; potential changes in the cost, scope and duration of the company’s development programs; the businesses of Alkermes and Avadel may not be effectively integrated and the expected benefits and value of the acquisition may not be achieved; there may be unknown or inestimable liabilities and potential litigation associated with the acquisition; there may be a reduction in payment rate or reimbursement for the company’s products or an increase in the company’s financial obligations to government payers; the company’s products may prove difficult to manufacture, be precluded from commercialization by the proprietary rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and those risks and uncertainties described under the heading “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2025 and in subsequent filings made by the company with the U.S. Securities and Exchange Commission

(SEC), which are available on the SEC’s website at www.sec.gov. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, the company disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release.

VIVITROL® is a registered trademark of Alkermes, Inc.; ARISTADA®, ARISTADA INITIO® and LYBALVI® are registered trademarks of Alkermes Pharma Ireland Limited, used by Alkermes, Inc. under license; LUMRYZ® is a registered trademark of Flamel Ireland Limited, an affiliate of Alkermes plc; BYANNLI®, INVEGA HAFYERA®, INVEGA TRINZA®, TREVICTA®, XEPLION® and RISPERDAL CONSTA®, are registered trademarks of Johnson & Johnson or its affiliated companies; and VUMERITY® is a registered trademark of Biogen MA Inc., used by Alkermes under license.

(tables follow)

The term “ARISTADA” as used in this press release refers to ARISTADA and ARISTADA INITIO®, unless the context indicates otherwise.

Alkermes plc and Subsidiaries

Selected Financial Information (Unaudited)

Condensed Consolidated Statements of Operations - GAAP

Three Months Ended

(In thousands, except per share data)

June 30, 2026

June 30, 2025

Revenues:

Product sales, net

411,724

307,235

Manufacturing and royalty revenues

84,285

83,422

Total Revenues

496,009

390,657

Expenses:

Cost of goods manufactured and sold

98,112

49,460

Research and development

112,920

77,370

Selling, general and administrative

217,625

170,849

Amortization of acquired intangible assets

22,585

—

Change in the fair value of contingent consideration

26,414

—

Total Expenses

477,656

297,679

Operating Income

18,353

92,978

Other (Expense) Income, net:

Interest income

5,344

11,090

Interest expense

(25,925

)

—

Other income, net

352

771

Total Other (Expense) Income, net

(20,229

)

11,861

(Loss) Income Before Income Taxes

(1,876

)

104,839

Income Tax (Benefit) Provision

(2,377

)

17,741

Net Income — GAAP

501

87,098

Earnings Per Share - Basic

0.00

0.53

Earnings Per Share - Diluted

0.00

0.52

Weighted Average Number of Ordinary Shares Outstanding:

Basic

167,026

164,959

Diluted

173,478

168,357

An itemized reconciliation between net income on a GAAP basis and Adjusted EBITDA is as follows:

Net Income — GAAP

501

87,098

Adjustments:

Interest income

(5,344

)

(11,090

)

Interest expense

25,925

—

Income tax provision

(2,377

)

17,741

Depreciation expense

7,693

7,818

Amortization of acquired intangible assets

22,585

—

EBITDA

48,983

101,567

Share-based compensation

31,296

24,966

Costs related to the acquisition of Avadel

32,525

—

Change in the fair value of contingent consideration

26,414

—

Adjusted EBITDA

139,218

126,533

Alkermes plc and Subsidiaries

Selected Financial Information (Unaudited)

Condensed Consolidated Statements of Operations - GAAP

Six Months Ended

(In thousands, except per share data)

June 30, 2026

June 30, 2025

Revenues:

Product sales, net

749,838

551,728

Manufacturing and royalty revenues

139,082

145,439

Total Revenues

888,920

697,167

Expenses:

Cost of goods manufactured and sold

159,690

98,657

Research and development

216,265

149,187

Selling, general and administrative

482,218

342,553

Amortization of acquired intangible assets

34,260

—

Change in the fair value of contingent consideration

26,414

—

Total Expenses

918,847

590,397

Operating (Loss) Income

(29,927

)

106,770

Other (Expense) Income, net:

Interest income

13,883

21,231

Interest expense

(46,817

)

—

Other (expense) income, net

(941

)

2,327

Total Other (Expense) Income, net

(33,875

)

23,558

(Loss) Income Before Income Taxes

(63,802

)

130,328

Income Tax Provision

2,177

20,766

Net (Loss) Income — GAAP

(65,979

)

109,562

(Loss) Earnings Per Share - Basic

(0.40

)

0.67

(Loss) Earnings Per Share - Diluted

(0.40

)

0.65

Weighted Average Number of Ordinary Shares Outstanding:

Basic

166,613

164,188

Diluted

166,613

168,470

An itemized reconciliation between net (loss) income on a GAAP basis and Adjusted EBITDA is as follows:

Net (Loss) Income — GAAP

(65,979

)

109,562

Adjustments:

Interest income

(13,883

)

(21,231

)

Interest expense

46,817

—

Income tax provision

2,177

20,766

Depreciation expense

15,446

15,239

Amortization of acquired intangible assets

34,260

—

EBITDA

18,838

124,336

Share-based compensation

85,877

47,776

Costs related to the acquisition of Avadel

88,350

—

Change in the fair value of contingent consideration

26,414

—

Adjusted EBITDA

219,479

172,112

Alkermes plc and Subsidiaries

Selected Financial Information (Unaudited)

Condensed Consolidated Balance Sheets

June 30,

December 31,

(In thousands)

2026

2025

Cash, cash equivalents and total investments

691,631

588,360

Restricted cash

—

731,206

Receivables

456,477

334,025

Inventory

298,957

196,625

Prepaid expenses and other current assets

110,895

79,090

Property, plant and equipment, net

218,284

221,722

Intangible assets, net

1,761,456

815

Goodwill

594,273

83,027

Deferred tax assets

123,041

125,815

Other assets

138,111

126,308

Total Assets

4,393,125

2,486,993

Accrued sales discounts, allowances and reserves

295,645

247,126

Long-term debt, current portion

26,500

—

Other current liabilities

339,946

296,311

Long-term debt

1,476,611

—

Other long-term liabilities

445,873

124,261

Total shareholders' equity

1,808,550

1,819,295

Total Liabilities and Shareholders' Equity

4,393,125

2,486,993

Ordinary shares outstanding (in thousands)

167,541

165,607

This selected financial information should be read in conjunction with the consolidated financial statements and notes thereto included in Alkermes plc's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which the company intends to file in July 2026.

Alkermes plc and Subsidiaries

Summary of Costs Related to the Acquisition of Avadel

Three Months Ended June 30, 2026

(In thousands)

GAAP Results

Costs Related to the Acquisition of Avadel

Net of Costs Related to the Acquisition of Avadel

Three Months Ended June 30, 2025

Cost of goods manufactured and sold

98,112

31,037

67,075

49,460

Research and development

112,920

153

112,767

77,370

Selling, general and administrative

217,625

1,335

216,290

170,849

Six Months Ended June 30, 2026

(In thousands)

GAAP Results

Costs Related to the Acquisition of Avadel (1)

Net of Costs Related to the Acquisition of Avadel

Six Months Ended June 30, 2025

Cost of goods manufactured and sold

159,690

43,763

115,927

98,657

Research and development

216,265

8,203

208,062

149,187

Selling, general and administrative

482,218

56,573

425,645

342,553

(1) Includes $20,188 of share-based compensation expense related to the acceleration of vesting of equity awards for Avadel employees which vested in full upon the closing of the transaction.

Alkermes plc and Subsidiaries

2026 Guidance — GAAP to EBITDA and Adjusted EBITDA

An itemized reconciliation between projected net loss on a GAAP basis, EBITDA and Adjusted EBITDA is as follows:

(In millions)

Amount

Projected Net Loss — GAAP

(105.0

)

Adjustments:

Net interest expense

80.0

Depreciation and amortization expense

110.0

Income tax benefit

—

Projected EBITDA

85.0

Share-based compensation expense

125.0

Costs related to the acquisition of Avadel

155.0

Change in the fair value of contingent consideration

25.0

Projected Adjusted EBITDA

390.0

Projected Net Loss on a GAAP basis and Projected EBITDA and Projected Adjusted EBITDA reflect mid-points within ranges of estimated guidance.

EX-99.2

Filename: alks-ex99_2.htm · Sequence: 3

Second Quarter 2026Financial Results & Business Update July 28, 2026 Exhibit 99.2

Forward-Looking Statements and Non-GAAP Financial Information Certain statements set forth in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: Alkermes plc’s (the “Company”) expectations with respect to its current and future financial, commercial and operating performance, business plans or prospects, including expected revenue and profitability. The Company cautions that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks, assumptions and uncertainties. These risks, assumptions and uncertainties include, among others: the Company may not be able to achieve its financial expectations, including those related to revenue and profitability; the Company’s commercial activities may not result in the benefits that the Company anticipates; the unfavorable outcome of arbitration, litigation, including so-called “Paragraph IV” litigation, or other proceedings or other disputes related to the Company’s products or products using the Company’s proprietary technologies; the U.S. Food and Drug Administration or other regulatory authorities may make adverse decisions regarding the Company’s products; the Company and its licensees may not be able to continue to successfully commercialize their products or support growth of such products; potential changes in the competitive landscape impacting our products, including earlier than anticipated entry of competition from generic forms of our products or competitive products and negotiated maximum fair pricing of competitive products; potential changes in the cost, scope, design or duration of the Company’s development activities; the results of the Company’s development activities may not be positive, or predictive of final results from such activities, results of future development activities or real-world results; the businesses of the Company and Avadel Pharmaceuticals plc (“Avadel”) may not be effectively integrated and the expected benefits and value of the acquisition may not be achieved; there may be unknown or inestimable liabilities, potential litigation and transaction costs associated with the acquisition; there may be a reduction in payment rate or reimbursement for the Company’s products or an increase in the Company’s financial obligations to government payers; the Company’s products may prove difficult to manufacture, be precluded from commercialization by the proprietary rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and those risks, assumptions and uncertainties described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2025 and in subsequent filings made by the Company with the U.S. Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov, and on the Company’s website at www.alkermes.com in the ‘Investors – SEC Filings’ section. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, the Company disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this presentation. Non-GAAP Financial Measures: This presentation includes information about certain financial measures that are not prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”), including EBITDA (earnings before interest, taxes, depreciation and amortization) and Adjusted EBITDA (excludes share‐based compensation expense and non‐recurring gains or losses in addition to the components of EBITDA from earnings). The Company provides these non-GAAP financial measures of the Company’s performance to investors because management believes that these non-GAAP financial measures, when viewed with the Company’s results under GAAP and the accompanying reconciliations, are useful in identifying underlying trends in ongoing operations. These non-GAAP measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures, to the extent reasonably determinable, can be found in the Appendix of this presentation. Note Regarding Trademarks: The Company and its affiliates are the owners of various U.S. federal trademark registrations (®) and other trademarks (TM), including ARISTADA®, ARISTADA INITIO®, LUMRYZ®, LYBALVI® and VIVITROL®. Any other trademarks referred to in this presentation are the property of their respective owners. Appearances of such other trademarks herein should not be construed as any indicator that their respective owners will not assert their rights thereto.

Q2 2026 Financial and Operational Performance

In millions Q2 2026 Financial Results Summary Total Revenue In millions GAAP Net Income GAAP Earnings Per Share Diluted 2026 results reflect the acquisition of Avadel in February 2026.

In millions Q2 2026 Profitability GAAP Net Income In millions Adjusted EBITDA* EBITDA* In millions EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA excludes share‐based compensation expense and non‐recurring gains or losses in addition to the components of EBITDA from earnings.*Reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the Appendix of this presentation.

Q2 2026 Revenue Summary In millions Q2’26 Q2’25 Total Proprietary Net Sales $411.7 $307.2 VIVITROL® $124.5 $121.7 ARISTADA®* $96.7 $101.3 LYBALVI® $94.0 $84.3 LUMRYZ® $96.6 - Manufacturing & Royalty Revenue $84.3 $83.4 Total Revenue $496.0 $390.7 Amounts in the table may not sum due to rounding. *Inclusive of ARISTADA INITIO®

Alkermes: 2026 Financial Expectations a The acquisition of Avadel closed on Feb. 12, 2026. Expected net sales of LUMRYZ represents the period of Feb. 12, 2026 – Dec. 31, 2026. Avadel recorded net sales of LUMRYZ of approx. $33 million between Jan. 1, 2026 and Feb. 11, 2026. b In connection with the acquisition of Avadel, the Company will record approximately $125 million of LUMRYZ inventory fair value step-up; the Company expects that approximately $105 million of this amount will be expensed in 2026 as this inventory is sold. c In connection with the acquisition of Avadel, the Company expects to record approximately $1.8 billion of intellectual property related to LUMRYZ, which will be amortized over an expected life of 14 years. d In connection with the positive topline results of the LUMRYZ phase 3 study in idiopathic hypersomnia, the Company recorded an increase of $26.4 million in the fair value of contingent consideration related to the Avadel acquisition contingent value right (CVR) milestone. *These expectations were provided by the Company on July 28, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. **These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on July 28, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. ‡Reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the Appendix of this presentation. i Inclusive of ARISTADA INITIO®. (in millions) Previous Financial Expectations for Year Ending Dec. 31, 2026 (provided May 5, 2026) Updated Financial Expectations for Year Ending Dec. 31, 2026* (provided July 28, 2026) Total Revenues $1,730 – $1,840 $1,730 – $1,840 Cost of Goods Soldb $320 – $340 $320 – $340 R&D Expenses $445 – $485 $445 – $485 SG&A Expenses $890 – $930 $890 – $930 Amortization of Intangible Assetsc $75 – $85 $75 – $85 Change in the fair value of contingent considerationd -- ~$25 Net Interest Expense $75 – $85 $75 – $85 GAAP Net Loss ($70) – ($90) ($95) – ($115) EBITDA‡ $105 – $135 $75 – $95 Adjusted EBITDA‡ $370 – $410 $370 – $410 Net Tax Benefit ~$0 ~$0 Expected net sales of proprietary products:** VIVITROL® net sales of $460M – $480M LYBALVI® net sales of $380M – $400M ARISTADA®i net sales of $365M – $385M LUMRYZ®a net sales of $315M – $335M EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA excludes share‐based compensation expense and non‐recurring gains or losses in addition to the components of EBITDA from earnings.

Q2 2026 Commercial Review

VIVITROL® Performance and Expectations *These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on July 28, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. Q2’26 VIVITROL net sales were $124.5M Outlook: FY’26 net sales expected to range from $460M – $480M* VIVITROL Quarterly Net Sales ($M)

ARISTADA® Performance and Expectations Q2’26 ARISTADA net sales were $96.7M Outlook: FY’26 net sales expected to range from $365M – $385M†* *Inclusive of ARISTADA INITIO®†These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on July 28, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. ARISTADA Quarterly Net Sales* ($M)

LYBALVI® Performance and Expectations *These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on July 28, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. Q2’26 LYBALVI net sales of $94.0M Q2’26 gross-to-net deductions: ~36% Outlook: FY’26 net sales expected to range from $380M – $400M* LYBALVI Quarterly Net Sales ($M)

LUMRYZ® Performance and Expectations *These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on July 28, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. Q2’26 LUMRYZ net sales were $96.6M Outlook: FY’26 net sales expected to range from $315M – $335M* LUMRYZ Net Sales expectations represents the period of Feb. 12, 2026 – Dec. 31, 2026 LUMRYZ Quarterly Net Sales ($M)

Appendix

Appendix: Financial Results GAAP to Non-GAAP Reconciliation (In millions) Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 Net Income — GAAP $ 0.5 $ 87.1 Adjustments: Interest income (5.3) (11.1) Interest expense 25.9 -- Income tax (benefit) provision (2.4) 17.7 Depreciation expense 7.7 7.8 Amortization of acquired intangible assets 22.6 -- EBITDA 49.0 101.6 Share-based compensation 31.3 25.0 Costs related to the acquisition of Avadel 32.5 -- Change in the fair value of contingent consideration 26.4 -- Adjusted EBITDA $ 139.2 $ 126.5 Amounts in the table may not sum due to rounding.

Appendix: Financial Expectations GAAP to Non-GAAP Reconciliation Projected GAAP and non-GAAP measures in the table above reflect the mid-points within the Company’s financial expectations ranges. (In millions) Year Ended December 31, 2023 Year Ending December 31, 2026 Projected Net Loss — GAAP $ (105.0) Adjustments: Net interest expense 80.0 Depreciation and amortization expense 110.0 Income tax benefit -- Projected EBITDA $ 85.0 Shared-based compensation expense 125.0 Costs related to the acquisition of Avadel 155.0 Change in the fair value of contingent consideration 25.0 Projected Adjusted EBITDA $ 390.0

www.alkermes.com

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