Alkermes Guides FY19 Revenues Higher Than Estimates - Quick Facts

(RTTNews) - Biopharmaceutical company Alkermes plc (ALKS) on Thursday initiated earnings and revenue for fiscal 2019. The company now projects earnings in a range of $0.87 to $1.06 per share and adjusted earnings in the range of $0.26 to $0.45 per share.

The company also said it now projects full-year 2018 revenues between $1.14 billion and $1.19 billion, up from its previous expectation range of $975 million to $1.025 billion, including expected Vivitrol net sales in a range of $330 million to $350 million, and Aristada net sales in a range of $210 million to $230 million.

The projected revenues are driven by expected about 24 percent growth of the company's proprietary products and an expected $150 million milestone payment from Biogen in the fourth quarter related to the potential FDA approval of diroximel fumarate.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.56 per share on revenues of $1.10 billion for the year. Analysts' estimates typically exclude special items.