Merger costs cause net loss at Alkermes

MERGER costs relating to its takeover of Elan’s former drug delivery unit, EDT, has resulted in biopharmaceutical group, Alkermes posting a net loss of $22.3 million (€16.2m) for the second quarter of its current financial year.

The Nasdaq-quoted group — which focuses on treatments for diseases affecting the central nervous system and which owns more than 20 commercially available drugs — completed the takeover of Athlone-based EDT business in September in a $960m deal, and switched its headquarters from the US to Dublin.

The results, covering the three months to the end of September, only include a two-week contribution from EDT, but merger-related expenses hampered group growth.