A Strong Foundation
Value for Stakeholders
Momentum for Long-Term Success
Alkermes’ Board of Directors (the Board) and management team have been focused on positioning the company for long-term growth and value creation. Alkermes’ strong recent performance is a direct result of its execution against three clear strategic priorities: growing its portfolio of proprietary commercial products, advancing its development pipeline and driving profitability for the benefit of its shareholders. These priorities are grounded in a culture of responsibility throughout the organization – responsibility to patients, employees and communities – and the Company’s commitment to strong corporate governance practices.
2023 Annual Meeting - How to Vote
Your vote at the Annual Meeting on June 29, 2023 is very important. We urge all shareholders to vote "FOR" the election of all seven of the Board's director nominees and "FOR" all other proposals in our proxy statement using the WHITE proxy card sent to you. The Board recommends that you do not mark any votes with respect to the director nominees of Sarissa Capital Offshore Master Fund LP (together with its affiliates and associates, Sarissa).
You can vote in one of three easy ways: by internet, by telephone or by mail.
Alkermes has an active, skilled and highly experienced board of directors that is heavily engaged in and supportive of the Company and its strategy. The Board has a strong and diverse set of backgrounds, skills and experiences relevant to our industry and our operations.
Creating Value for Shareholders
The Board and Alkermes' management team have been keenly focused on the following objectives to best position Alkermes for long-term growth and value creation:
- Execute on the Company’s Value Enhancement Plan, which is comprised of a number of initiatives, including Board refreshment, evaluation of strategic opportunities and establishment of long-term profitability targets.
- Drive operational efficiency and calibrate Alkermes’ cost structure to appropriately support the Company’s strategic priorities and growth opportunities.
- Work toward the planned separation of the Company’s oncology business and neuroscience business, which the Board believes will unlock shareholder value by enhancing the performance of both businesses and accelerating profitability for the neuroscience business.
Since the Company’s December 2020 announcement of its Value Enhancement Plan, Alkermes’ share price has increased by 49%, and Alkermes has outperformed its peers1 by 61%, the XBI biotech index by 83% and the NBI biotech index by 56%2. Alkermes’ total shareholder return (TSR) has also outperformed its peers and the XBI and NBI over various other timeframes, including on a 1-year and 3-year trailing basis.
Alkermes has also appointed seven new independent directors to the Board, while five longer-serving directors have retired. The newly appointed directors include a director designated by Sarissa in November 2021 (Cato T. Laurencin, M.D., Ph.D.), a director designated by Elliott Advisors (UK) (Elliott) in May 2021 (Emily Peterson Alva), and two directors appointed with the support of Elliott in December 2020 (David A. Daglio and Brian P. McKeon) – all of whom continue to serve on the Board.
[1] Peers include: Acadia Pharmaceuticals Inc., Alnylam Pharmaceuticals, Inc., Blueprint Medicines Corporation, Emergent BioSolutions Inc., Exelixis, Inc., Incyte Corporation, Ionis Pharmaceuticals, Inc., Ironwood Pharmaceuticals, Inc., Jazz Pharmaceuticals plc, Neurocrine Biosciences, Inc., PTC Therapeutics, Inc., Sage Therapeutics, Inc., Sarepta Therapeutics, Inc., Ultragenyx Pharmaceutical Inc., United Therapeutics Corporation.
[2] Share prices from 12/9/2020, the last trading day before Alkermes announced its Value Enhancement Plan, through 2/3/2023, the last trading day prior to Sarissa’s Schedule 13D/A disclosing its notice of director nominations.
Forward-Looking Statements
This site contains “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 its strategic priorities, its ability to create and deliver shareholder value and achieve its profitability targets; expectations regarding the anticipated benefits and other impacts of the planned separation of the Company’s oncology business; and the therapeutic and commercial potential of the Company’s products. 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, including that the Company may not ultimately separate its oncology business during 2023 or at all; the Company may not be able to achieve long-term profitability or its profitability targets in a timely manner or at all; the terms of the final award in the Company’s arbitration proceedings with Janssen may be challenged; 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 FDA or regulatory authorities outside the U.S. may not agree with the Company’s regulatory approval strategies or components of the Company’s marketing applications; the FDA or regulatory authorities outside the U.S. 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; 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, 2022 and in subsequent filings made by the Company with the 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 on this site.