“We’ve never really believed that any single drug is enough to take you to the finish line. Our company keeps looking for unmet medical needs . We approach from a patient’s point of view to come up with scientific solutions and make a drug that helps them live better,” says Richard Pops, Chairman, and CEO, Alkermes.
By putting together scientific expertise and proprietary technologies, Alkermes develops products that positively affect the outcomes for patients, caregivers, and communities. Beyond their scientific pursuits, it also works to help support and enhance the systems through which complex diseases can get treated. The company is also committed to improving patient engagement, spreading awareness and education on diseases, including serious mental illness, addiction, and cancer, and advocating for significant policies that support equal access to treatment options.
Alkermes Plc (NASDAQ: ALKS): Developing Innovative Medicines for Better Patient Care
We approach from a patient’s point of view to come up with scientific solutions and make a drug that helps them live better
“I find this patient-centricity idea to be central to what we do. Our core value is to guide and define our culture as we work together to achieve our purpose,” adds Pops. Headquartered in Dublin, Ireland, Alkermes plc has an R&D center in Waltham, Massachusetts; a research and manufacturing facility in Athlone, Ireland; and a manufacturing facility in Wilmington, Ohio.
The disciplined approach to research and technology is undoubtedly an integral part of Alkermers’ identity, but it is also a responsible entity whose commitment goes far beyond the development of medicines. One of the core parts of the company’s work is to positively impact its employees, community members, local environment, and society at large. The other missions include patient advocacy, corporate giving, and public policy. Additionally, the company supports groups and programs with common goals central to its mission with sponsorships, corporate memberships, and charitable giving. Since its inception, Alkermes has awarded over $4 million in funding to organizations — from large advocacy groups and academic institutions to grassroots institutions in rural communities — that have developed innovative programs that support the need of those affected by serious diseases via the Alkermes Inspiration Grants Program. Even in 2021, the company received more than 250 applications, amongst which it has prioritized proposals that addressed the needs of historically underrepresented or under-resourced communities, including BIPOC, LGBTQ+, veterans, women, and people impacted by the U.S. criminal justice system.
Riding high on the success of its unparalleled capabilities and innovations in the biotechnology arena, Alkermes has stepped up its competitive edge with the latest announcement of LYBALVI, their first oral antipsychotic medicine composed of olanzapine, an established antipsychotic agent, and samidorphan, a new chemical entity. The drug is currently available by prescription in the U.S. to treat adults living with schizophrenia or bipolar I disorder. For the upcoming years, it has a pipeline of product candidates in development for neurodegenerative disorders and cancer. “We think we can be the next Biogen, or a Celgene or a Vertex – we have that much firepower in our pipeline. We are now large enough to place these kinds of big bets all on our own. We have no equity financing, and are not reliant on pharma partnerships – all the drugs we are bringing through our pipeline now are all ‘home-grown’; we are bringing them all right through the pipeline from R&D and nearly to market,” concludes Pops.