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Alkermes To Spin Out Oncology Business, Says Inflation Reduction Act Boosts Its Value

Company Raised CNS Product Revenue Guidance

 
• By Mandy Jackson

After a year of strong commercial performance for Lybalvi and with IL-2 drug nemvaleukin in registration-enabling studies, Alkermes is ready to separate its neuroscience and oncology businesses. 

chain with arrows splits into two
The oncology business will split off from Alkermes in H2 2023 • Source: Shutterstock

Alkermes plc has been thinking about the best way to derive the most value from its oncology assets for some time and CEO Richard Pops said the timing is finally right for what the firm believes to be the top strategy going forward – spinning out the interleukin-2 (IL-2) drug nemvaleukin alfa and two additional cytokine therapeutics into a separate oncology company.

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