Under the agreement, the parties agreed to request termination of the IPR and
"We believe this settlement recognizes the strength of the VIVITROL intellectual property. We are pleased to come to this resolution which provides more clarity regarding the outlook for VIVITROL," said Richard Pops, Chief Executive Officer of
An oral hearing with the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office, that was scheduled to take place on
About Alkermes plc
Note Regarding Forward-Looking Statements
Certain statements set forth in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: the company's future performance, business plans or prospects, and expected growth; the strength of the intellectual property, including the '499 Patent, covering VIVITROL; the clarity in the outlook for VIVITROL provided by the settlement with Amneal; and the potential therapeutic and commercial value of VIVITROL. The company cautions that forward-looking statements are inherently uncertain. Although the company believes that such statements are based on reasonable assumptions within the bounds of its knowledge of its business and operations, the forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks and uncertainties, including the unfavorable outcome of litigation, including so-called "Paragraph IV" litigation and other patent litigation, related to VIVITROL, which may lead to competition from generic drug manufacturers; and those risks and uncertainties described under the heading "Risk Factors" in the company's most recent Annual Report on Form 10-K and in subsequent filings made by the company with the
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