Alkermes raises profit forecast

Irish-American pharmaceutical company Alkermes has increased its full-year profit forecast for the second time in three months.

On the back of a strong set of third quarter figures, published yesterday, the Dublin-headquartered/New York-listed company said that it now expects to generate “between $135m and $155m” (€99.4m-€114.1m) in net income in its current financial year, which runs to the end of March.

The US company — which changed the location of its headquarters following its near €1bn 2011 takeover of Elan’s Athlone-based drug delivery business, EDT — yesterday reported an 8.2% year-on-year increase in total revenue for its third quarter to the end of December, to $135.9m; growth driven by an improved performance of its main commercial products.