TacticScaleWhat Alkermes Does & How It Makes Money (ALKS)
Updated October 2026 · reflects Alkermes's latest reported financials
Irish biopharma company making medicines for addiction and serious mental illness. Alkermes makes money mainly by selling its own branded drugs, such as VIVITROL, ARISTADA and LYBALVI.
How Alkermes makes money
Alkermes makes money mainly by selling its own branded drugs, such as VIVITROL, ARISTADA and LYBALVI. It also licenses its drug-delivery technologies to partners, mainly Janssen, and earns revenue from collaboration agreements and manufacturing.
What Alkermes does
Alkermes plc is a Dublin-headquartered biopharmaceutical company, founded in 1987, that focuses on psychiatry, addiction and neurology. Its commercial portfolio includes VIVITROL for alcohol dependence and preventing opioid dependence, ARISTADA and ARISTADA INITIO injectables for schizophrenia, LYBALVI, an oral antipsychotic for schizophrenia and bipolar I disorder, and LUMRYZ, an extended-release oral suspension for cataplexy or excessive daytime sleepiness in pediatric patients. Alkermes also makes money from its proprietary drug-delivery technology platforms, which it offers to third parties to develop, commercialize and manufacture products. Its main collaboration partners are Janssen entities. It operates in the United States, Ireland and other markets, and has clinical and preclinical drug candidates for neurological disorders.
Products & services
- VIVITROL
- ARISTADA
- ARISTADA INITIO
- LYBALVI
- LUMRYZ
- Drug-delivery technology platforms
What is Alkermes worth?
On an owner-earnings DCF, Alkermes's most-likely value is about $59 versus a recent price near $41 (44% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$25) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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