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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Mar. 31, 2013	May 08, 2013
Document and Entity Information
Entity Registrant Name	Alkermes plc.
Entity Central Index Key	0001520262
Document Type	10-K
Document Period End Date	Mar. 31, 2013
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float	$ 2,712,520,116
Entity Common Stock, Shares Outstanding		134,380,999
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
CURRENT ASSETS:
Cash and cash equivalents	$ 96,961	$ 83,601
Investments-short-term	124,391	106,846
Receivables	124,620	96,381
Inventory	43,483	39,759
Prepaid expenses and other current assets	19,133	12,566
Total current assets	408,588	339,153
PROPERTY, PLANT AND EQUIPMENT, NET	288,435	302,995
INTANGIBLE ASSETS-NET	575,993	617,845
GOODWILL	92,740	92,740
INVESTMENTS-LONG-TERM	82,827	55,691
OTHER ASSETS	21,708	26,793
TOTAL ASSETS	1,470,291	1,435,217
CURRENT LIABILITIES:
Accounts payable and accrued expenses	76,910	79,154
Deferred revenue-current	2,270	6,910
Long-term debt-current	6,750	3,100
Total current liabilities	85,930	89,164
LONG-TERM DEBT	362,258	441,360
DEFERRED REVENUE-LONG-TERM	8,866	7,578
DEFERRED TAX LIABILITIES, NET-LONG-TERM	37,603	34,512
OTHER LONG-TERM LIABILITIES	23,260	8,751
Total liabilities	517,917	581,365
COMMITMENTS AND CONTINGENCIES (Note 18)
SHAREHOLDERS' EQUITY:
Preferred stock, par value, $0.01 per share; 50,000,000 shares authorized; zero issued and outstanding at March 31, 2013 and 2012, respectively
Ordinary shares, par value, $0.01 per share; 450,000,000 shares authorized; 134,065,107 and 130,212,530 shares issued; 133,751,610 and 130,177,452 shares outstanding at March 31, 2013 and 2012, respectively	1,338	1,300
Treasury stock, at cost (313,497 and 35,078 shares at March 31, 2013 and 2012, respectively)	(5,380)	(571)
Additional paid-in capital	1,458,857	1,380,742
Accumulated other comprehensive loss	(2,518)	(2,713)
Accumulated deficit	(499,923)	(524,906)
Total shareholders' equity	952,374	853,852
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,470,291	$ 1,435,217

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2013	Mar. 31, 2012
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	134,065,107	130,212,530
Common stock, shares outstanding	133,751,610	130,177,452
Treasury stock, shares	313,497	35,078

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
REVENUES:
Manufacturing and royalty revenues	$ 510,900	$ 326,444	$ 156,840
Product sales, net	58,107	41,184	28,920
Research and development revenue	6,541	22,349	880
Total revenues	575,548	389,977	186,640
EXPENSES:
Cost of goods manufactured and sold	170,466	127,578	52,185
Research and development	140,013	141,893	97,239
Selling, general and administrative	125,758	137,632	82,847
Amortization of acquired intangible assets	41,852	25,355
Restructuring	12,300
Impairment of long-lived assets	3,346	45,800
Total expenses	493,735	478,258	232,271
OPERATING INCOME (LOSS)	81,813	(88,281)	(45,631)
OTHER EXPENSE, NET:
Interest income	841	1,516	2,728
Interest expense	(48,994)	(28,111)	(3,298)
Other income (expense), net	1,781	484	(290)
Total other expense, net	(46,372)	(26,111)	(860)
INCOME (LOSS) BEFORE INCOME TAXES	35,441	(114,392)	(46,491)
PROVISION (BENEFIT) FOR INCOME TAXES	10,458	(714)	(951)
NET INCOME (LOSS)	$ 24,983	$ (113,678)	$ (45,540)
EARNINGS (LOSS) PER COMMON SHARE:
Basic (in dollars per share)	$ 0.19	$ (0.99)	$ (0.48)
Diluted (in dollars per share)	$ 0.18	$ (0.99)	$ (0.48)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic (in shares)	131,713	114,702	95,610
Diluted (in shares)	137,100	114,702	95,610
COMPREHENSIVE INCOME (LOSS):
Net income (loss)	$ 24,983	$ (113,678)	$ (45,540)
Unrealized gains (losses) on marketable securities, net of tax:
Holding gains, net of tax	703	627	379
Less: Reclassification adjustment for gains included in net income (loss)	(1,030)
Unrealized (losses) gains on marketable securities	(327)	627	379
Unrealized (losses) gains on derivative contracts:
Unrealized losses on derivative contracts, net of tax	(72)	(327)
Less: Reclassification adjustment for losses included in net income (loss)	594
Unrealized gains (losses) on derivative contracts	522	(327)
COMPREHENSIVE INCOME (LOSS)	$ 25,178	$ (113,378)	$ (45,161)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Non-voting Common Stock	Ordinary Shares	Additional Paid-In Capital	Accumulated Other Comprehensive Loss (Income)	Accumulated Deficit	Treasury Stock
BALANCE at Mar. 31, 2010	$ 412,616	$ 4	$ 1,047	$ 910,326	$ (3,392)	$ (365,688)	$ (129,681)
BALANCE (in shares) at Mar. 31, 2010		382,632	104,815,328				(9,945,265)
Increase (Decrease) in Shareholders' Equity
Issuance of common stock under employee stock plans	6,158		$ 8	6,150
Issuance of common stock under employee stock plans (in shares)			956,179
Receipt of Alkermes' stock for the purchase of stock options or to satisfy minimum tax withholding obligations related to stock based awards	(1,414)						$ (1,414)
Receipt of Alkermes' stock for the purchase of stock options or to satisfy minimum tax withholding obligations related to stock based awards (in shares)							(123,943)
Share-based compensation expense	19,819			19,819
Unrealized gains on marketable securities, net of tax of $372 and $225 for the year ended March 31, 2012 and 2011, respectively	379				379
Net income (loss)	(45,540)					(45,540)
BALANCE at Mar. 31, 2011	392,018	$ 4	$ 1,055	936,295	(3,013)	(411,228)	$ (131,095)
BALANCE (in shares) at Mar. 31, 2011		382,632	105,771,507				(10,069,208)
Increase (Decrease) in Shareholders' Equity
Issuance of common stock to Elan Corporation, plc in connection with the purchase of Elan Drug Technologies	525,074		$ 319	524,755
Issuance of common stock to Elan Corporation, plc in connection with the purchase of Elan Drug Technologies (in shares)			31,900,000
Issuance of common stock under employee stock plans	20,864		$ 24	20,840
Issuance of common stock under employee stock plans (in shares)			2,398,422
Receipt of Alkermes' stock for the purchase of stock options or to satisfy minimum tax withholding obligations related to stock based awards	(3,676)						$ (3,676)
Receipt of Alkermes' stock for the purchase of stock options or to satisfy minimum tax withholding obligations related to stock based awards (in shares)							(205,901)
Share-based compensation expense	28,615			28,615
Excess tax benefit from share-based compensation	4,335			4,335
Conversion of non-voting common stock to common stock		$ (4)	$ 4
Conversion of non-voting common stock to common stock (in shares)		(382,632)	382,632
Cancellation of treasury stock			$ (102)	(134,098)			$ 134,200
Cancellation of treasury stock (in shares)			(10,240,031)				10,240,031
Unrealized gains on marketable securities, net of tax of $372 and $225 for the year ended March 31, 2012 and 2011, respectively	627				627
Unrealized loss on cash flow hedge, net of tax of $(194)	(327)				(327)
Net income (loss)	(113,678)					(113,678)
BALANCE at Mar. 31, 2012	853,852		$ 1,300	1,380,742	(2,713)	(524,906)	$ (571)
BALANCE (in shares) at Mar. 31, 2012			130,212,530				(35,078)
Increase (Decrease) in Shareholders' Equity
Issuance of common stock under employee stock plans	34,360		$ 38	34,322
Issuance of common stock under employee stock plans (in shares)			3,852,577
Receipt of Alkermes' stock for the purchase of stock options or to satisfy minimum tax withholding obligations related to stock based awards	(4,809)						$ (4,809)
Receipt of Alkermes' stock for the purchase of stock options or to satisfy minimum tax withholding obligations related to stock based awards (in shares)							(278,419)
Share-based compensation expense	34,926			34,926
Excess tax benefit from share-based compensation	8,867			8,867
Unrealized gains on marketable securities, net of tax of $372 and $225 for the year ended March 31, 2012 and 2011, respectively	703				703
Unrealized loss on cash flow hedge, net of tax of $(194)	(72)				(72)
Reclassification of unrealized gains to realized gains	(1,030)				(1,030)
Reclassification of unrealized losses to realized losses	594				594
Net income (loss)	24,983					24,983
BALANCE at Mar. 31, 2013	$ 952,374		$ 1,338	$ 1,458,857	$ (2,518)	$ (499,923)	$ (5,380)
BALANCE (in shares) at Mar. 31, 2013			134,065,107				(313,497)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Unrealized gains on marketable securities, tax	$ 372	$ 225
Unrealized loss on cash flow hedge, tax	$ (194)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 24,983	$ (113,678)	$ (45,540)
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Depreciation and amortization	73,751	47,884	8,652
Share-based compensation expense	34,716	28,826	19,832
Loss on debt refinancing transactions	19,670
Prepayment penalties in connection with debt refinancing transactions	(6,533)
Excess tax benefit from share-based compensation	(8,867)	(4,335)
Impairment of long-lived assets	3,346	45,800
Deferred income taxes	(2,113)	(14,556)
Principal payments on long-term debt attributable to original issue discount	(2,657)
Loss on purchase of non-recourse RISPERDAL CONSTA secured 7% Notes			841
Payment or purchase of non-recourse RISPERDAL CONSTA secured 7% notes attributable to original issue discount			(6,611)
Other non-cash charges	5,698	4,342	1,861
Changes in assets and liabilities, excluding the effect of acquisitions:
Receivables	(28,239)	(14,014)	2,347
Inventory, prepaid expenses and other assets	(6,577)	(4,879)	5,211
Accounts payable and accrued expenses	19,406	15,552	6,954
Deferred revenue	(3,351)	6,068	635
Other long-term liabilities	3,318	508	(88)
Cash flows provided by (used in) operating activities	126,551	(2,482)	(5,906)
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant and equipment	(22,217)	(16,988)	(9,401)
Proceeds from the sale of equipment	193	35	395
Acquisition of Elan Drug Technologies, net of cash acquired		(494,774)
Investment in Acceleron Pharmaceuticals, Inc.		(231)	(501)
Promissory note issued to Civitas Therapeutics, Inc.	(1,116)
Purchases of investments	(303,945)	(228,229)	(370,375)
Sales and maturities of investments	258,937	323,028	385,511
Cash flows (used in) provided by investing activities	(68,148)	(417,159)	5,629
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of ordinary shares for share-based compensation arrangements	34,360	20,864	6,158
Excess tax benefit from share-based compensation	8,867	4,335
Proceeds from the issuance of long-term debt	366,483	444,100
Employee taxes paid related to net share settlement of equity awards	(4,809)	(3,676)	(1,414)
Principal payments of long-term debt	(449,944)	(775)
Payment or purchase of non-recourse RISPERDAL CONSTA secured 7% notes			(45,397)
Cash flows (used in) provided by financing activities	(45,043)	464,848	(40,653)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	13,360	45,207	(40,930)
CASH AND CASH EQUIVALENTS-Beginning of period	83,601	38,394	79,324
CASH AND CASH EQUIVALENTS-End of period	96,961	83,601	38,394
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Cash paid for interest	7,656	21,658	1,684
Cash paid for taxes	5,921	10,068	60
Non-cash investing and financing activities:
Purchased capital expenditures included in accounts payable and accrued expenses	2,450	3,416	424
Investment in Civitas Therapeutics, Inc.	$ 1,116	1,547	$ 1,320
Issuance of common stock used in the acquisition of Elan Drug Technologies		$ 525,074

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
CONSOLIDATED STATEMENTS OF CASH FLOWS
RISPERDAL CONSTA secured notes principal	7.00%	7.00%	7.00%

THE COMPANY	12 Months Ended
THE COMPANY	Mar. 31, 2013
THE COMPANY
THE COMPANY	1. THE COMPANY Alkermes plc (the "Company") is a fully integrated, global biopharmaceutical company that applies its scientific expertise and proprietary technologies to develop innovative medicines that improve patient outcomes. The Company has a diversified portfolio of more than 20 commercial drug products and a substantial clinical pipeline of product candidates that address central nervous system ("CNS") disorders such as addiction, schizophrenia and depression. Headquartered in Dublin, Ireland, Alkermes plc has a research and development ("R&D") center in Waltham, Massachusetts; R&D and manufacturing facilities in Athlone, Ireland; and manufacturing facilities in Gainesville, Georgia and Wilmington, Ohio. On September 16, 2011, the business of Alkermes, Inc. and the drug technologies business ("EDT") of Elan Corporation, plc ("Elan") were combined under the Company (this combination is referred to as the "Business Combination", the "acquisition of EDT" or the "EDT acquisition") in a transaction accounted for as a reverse acquisition with Alkermes, Inc. treated as the accounting acquirer. As a result, the historical financial statements of Alkermes, Inc. are included in the comparative prior periods. Use of the terms such as "us," "we," "our," "Alkermes" or the "Company" is meant to refer to Alkermes plc and its consolidated subsidiaries, except where context makes clear that the time period being referenced is prior to September 16, 2011, in which case such terms shall refer to Alkermes, Inc. and its consolidated subsidiaries. Prior to September 16, 2011, Alkermes, Inc. was an independent pharmaceutical company incorporated in the Commonwealth of Pennsylvania and traded on the NASDAQ Global Select Stock Market under the symbol "ALKS."

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The consolidated financial statements include the accounts of Alkermes plc and its wholly-owned subsidiaries: Alkermes Ireland Holdings Limited; Alkermes Science Three Limited; Alkermes Pharma Ireland Limited; Alkermes Finance Ireland Limited; Alkermes Science One Limited; Alkermes Finance S.à r.l.; Alkermes Finance Ireland (No. 2) Limited; Alkermes U.S. Holdings, Inc.; Alkermes, Inc.; Eagle Holdings USA, Inc.; Alkermes Controlled Therapeutics, Inc.; Alkermes Europe, Ltd.; and Alkermes Gainesville LLC. Intercompany accounts and transactions have been eliminated.

Use of Estimates

The preparation of the Company's consolidated financial statements in accordance with accounting principles generally accepted in the United States ("U.S.") ("GAAP") requires management to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates and judgments and methodologies, including those related to revenue recognition and related allowances, its collaborative relationships, clinical trial expenses, the valuation of inventory, impairment and amortization of intangibles and long-lived assets, share-based compensation, income taxes including the valuation allowance for deferred tax assets, valuation of investments and derivative instruments, litigation and restructuring charges. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions.

Cash and Cash Equivalents

The Company values its cash and cash equivalents at cost plus accrued interest, which the Company believes approximates their market value. The Company considers only those investments which are highly liquid, readily convertible into cash and that mature within three months from the date of purchase to be cash equivalents.

Investments

The Company has investments in various types of securities including U.S. government and agency obligations, debt securities issued by foreign agencies and backed by foreign governments and corporate debt securities. The Company generally holds its interest-bearing investments with major financial institutions and in accordance with documented investment policies. The Company limits the amount of credit exposure to any one financial institution or corporate issuer. At March 31, 2013, substantially all these investments are classified as available-for-sale and are recorded at fair value.

Holding gains and losses on available-for-sale investments are considered "unrealized" and are reported within "Accumulated other comprehensive income (loss)," a component of shareholders' equity. The Company uses the specific identification method for reclassifying unrealized gains and losses into earnings when investments are sold. The Company conducts periodic reviews to identify and evaluate each investment that has an unrealized loss, in accordance with the meaning of other-than-temporary impairment and its application to certain investments, as required by GAAP. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. Unrealized losses on available-for-sale securities that are determined to be temporary, and not related to credit loss, are recorded in accumulated other comprehensive income (loss).

For available-for-sale debt securities with unrealized losses, the Company performs an analysis to assess whether it intends to sell or whether it would more likely than not be required to sell the security before the expected recovery of the amortized cost basis. If the Company intends to sell a security, or may be required to do so, the security's decline in fair value is deemed to be other-than-temporary and the full amount of the unrealized loss is recorded within earnings as an impairment loss. Regardless of the Company's intent to sell a security, the Company performs additional analysis on all securities with unrealized losses to evaluate losses associated with the creditworthiness of the security. Credit losses are identified where the Company does not expect to receive cash flows sufficient to recover the amortized cost basis of a security.

Certain of the Company's money market funds and held-to-maturity investments are restricted investments held as collateral under letters of credit related to certain of the Company's service provider agreements and lease agreements, respectively, and are included in "Investments—short-term" and "Investments—long-term", respectively, in the consolidated balance sheets.

Fair Value of Financial Instruments

The Company's financial assets and liabilities are recorded at fair value and are classified as Level 1, 2 or 3 within the fair value hierarchy, as described in the accounting standards for fair value measurement. The Company's financial assets and liabilities consist of cash equivalents and investments and are classified within the fair value hierarchy as follows:

Level 1—these valuations are based on a market approach using quoted prices in active markets for identical assets. Valuations of these products do not require a significant degree of judgment. Assets utilizing Level 1 inputs include investments in money market funds and U.S. treasury securities;

Level 2—these valuations are based on a market approach using quoted prices obtained from brokers or dealers for similar securities or for securities for which the Company has limited visibility into their trading volumes. Valuations of these financial instruments do not require a significant degree of judgment. Assets and liabilities utilizing Level 2 inputs include U.S. government agency debt securities, debt securities issued and backed by foreign governments, investments in corporate debt securities that are trading in the credit markets and an interest rate cap and swap contract;

Level 3—these valuations are based on an income approach using certain inputs that are unobservable and are significant to the overall fair value measurement. Valuations of these products require a significant degree of judgment. At March 31, 2013, the Company did not have any assets or liabilities utilizing Level 3 inputs.

Inventory

Inventory is stated at the lower of cost or market value. Cost is determined using the first-in, first-out method. Included in inventory are raw materials used in production of pre-clinical and clinical products, which have alternative future use and are charged to R&D expense when consumed.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, subject to review for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Expenditures for repairs and maintenance are charged to expense as incurred and major renewals and improvements are capitalized. Depreciation is calculated using the straight-line method over the following estimated useful lives of the assets:

Asset group		Term

Buildings and improvements		15 - 40 years
Furniture, fixtures and equipment		3 - 10 years
Leasehold improvements		Shorter of useful life or lease term

Business Acquisitions

The Company's consolidated financial statements include the operations of an acquired business after the completion of the acquisition. The Company accounts for acquired businesses using the acquisition method of accounting. The acquisition method of accounting for acquired businesses requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date, and that the fair value of acquired in-process research and development ("IPR&D") be recorded on the balance sheet. Also, transaction costs are expensed as incurred. Any excess of the purchase price over the assigned values of the net assets acquired is recorded as goodwill. Contingent consideration, if any, is included within the acquisition cost and is recognized at its fair value on the acquisition date. A liability resulting from contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. Changes in fair value are recognized in earnings.

Goodwill and Intangible Assets

Goodwill represents the excess cost of the Company's investment in the net assets of acquired companies over the fair value of the underlying identifiable net assets at the date of acquisition. The Company's goodwill, which solely relates to the EDT acquisition in the fiscal year ended March 31, 2012, has been assigned to a reporting unit which consists of the former EDT business. A reporting unit is an operating segment or sub-segment to which goodwill is assigned when initially recorded.

Goodwill is reviewed for impairment utilizing a two-step process. The first step requires the Company to compare the fair value of the reporting unit to its respective carrying value, which includes goodwill. If the fair value of the reporting unit exceeds its carrying value, the goodwill is not considered impaired. If the carrying value is higher than the fair value, there is an indication that an impairment may exist and the second step is required. In step two, the implied fair value of goodwill is calculated as the excess of the fair value of a reporting unit over the fair values assigned to its assets and liabilities. If the implied fair value of goodwill is less than the carrying value of the reporting unit's goodwill, the difference is recognized as an impairment loss.

The Company's finite-lived intangible assets consist of core developed technology and collaboration agreements and are recorded at fair value at the time of their acquisition and are stated within the Company's consolidated balance sheets net of accumulated amortization and impairments. The finite-lived intangible assets are amortized over their estimated useful life using the economic use method, which reflects the pattern that the economic benefits of the intangible assets are consumed as revenue is generated from the underlying patent or contract. The useful lives of the Company's intangible assets are primarily based on the legal or contractual life of the underlying patent or contract, which does not include additional years for the potential extension or renewal of the contract or patent. The Company's intangible assets were all acquired as part of the EDT acquisition in the fiscal year ended March 31, 2012, as described in Note 3, Acquisitions.

Impairment of Long-Lived Assets

The Company reviews long-lived assets to be held and used for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or a significant adverse change that would indicate that the carrying amount of an asset or group of assets is not recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are not expected to be sufficient to recover the carrying amount of the assets, the assets are written-down to their estimated fair values. Long-lived assets to be disposed of are carried at fair value less costs to sell them.

Asset Retirement Obligations

The Company recognized an asset retirement obligation for an obligation to remove leasehold improvements and other related activities at the conclusion of the Company's lease for its manufacturing facility located in Chelsea, Massachusetts, which it presently subleases. The carrying amount of the asset retirement obligation at March 31, 2013 and 2012, was $2.0 million and $1.9 million, respectively, and is included within "Other Long-Term Liabilities" in the accompanying consolidated balance sheets.

The following table shows changes in the carrying amount of the Company's asset retirement obligation for the years ended March 31, 2013 and 2012:

(In thousands)	Carrying Amount

Balance, April 1, 2011	$	1,692
Accretion expense		170

Balance, March 31, 2012	$	1,862
Accretion expense		187

Balance, March 31, 2013	$	2,049

Revenue Recognition

Collaborative Arrangements

The Company has entered into a number of collaboration agreements with pharmaceutical companies including Ortho-McNeil-Janssen Pharmaceuticals, Inc. and Janssen Pharmaceutica International, a division of Cilag International AG ("Janssen") for RISPERDAL® CONSTA® and INVEGA® SUSTENNA®/XEPLION®, Acorda Therapeutics, Inc. ("Acorda") for AMPYRA®/FAMPYRA® and Amylin Pharmaceuticals, Inc. ("Amylin"), now a wholly-owned subsidiary of Bristol-Myers Squibb Company ("Bristol-Myers") for BYDUREON®. These collaborative arrangements typically include upfront payments, funding of R&D, payments based upon achievement of pre-clinical and clinical development milestones, manufacturing services, sales milestones and royalties on product sales.

On April 1, 2011, the Company adopted new authoritative guidance on revenue recognition for multiple element arrangements. The guidance, which applies to multiple element arrangements entered into or materially modified on or after April 1, 2011, amends the criteria for separating and allocating consideration in a multiple element arrangement by modifying the fair value requirements for revenue recognition and eliminating the use of the residual method. The fair value of deliverables under the arrangement may be derived using a "best estimate of selling price" if vendor-specific objective evidence and third-party evidence is not available. Deliverables under the arrangement will be separate units of accounting provided that (i) a delivered item has value to the customer on a stand-alone basis, and (ii) if the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item is considered probable and substantially in the control of the vendor. The Company did not enter into any significant multiple element arrangements or materially modify any of its existing multiple element arrangements during the year ended March 31, 2013. The Company's existing collaboration agreements continue to be accounted for under previously issued revenue recognition guidance for multiple element arrangements, as described below.

Whenever the Company determines that an arrangement should be accounted for as a single unit of accounting, the Company determines the period over which the performance obligations will be performed and revenue will be recognized. Revenue will be recognized using either a proportional performance or straight-line method. The Company recognizes revenue using the proportional performance method when the level of effort required to complete its performance obligations under an arrangement can be reasonably estimated and such performance obligations are provided on a best-efforts basis. Earned arrangement consideration is typically used as the measure of performance. The amount of revenue recognized under the proportional performance method is determined by multiplying the total expected payments under the contract, excluding royalties and payments contingent upon achievement of substantive milestones, by the ratio of earned arrangement consideration to estimated total arrangement consideration to be earned under the arrangement. Revenue is limited to the lesser of the cumulative amount of payments received or the cumulative amount of revenue earned, as determined using the proportional performance method, as of the period ending date.

If the Company cannot reasonably estimate the total arrangement consideration to be earned under an arrangement, the Company recognizes revenue under the arrangement on a straight-line basis over the period the Company is expected to complete its performance obligations. Revenue is limited to the lesser of the cumulative amount of payments received or the cumulative amount of revenue earned, as determined using the straight-line method, as of the period ending date.

Significant management judgment is required in determining the consideration to be earned under an arrangement and the period over which the Company is expected to complete its performance obligations under an arrangement. Steering committee services that are not inconsequential or perfunctory and that are determined to be performance obligations are combined with other research services or performance obligations required under an arrangement, if any, in determining the level of effort required in an arrangement and the period over which the Company expects to complete its aggregate performance obligations.

Many of the Company's collaboration agreements entitle it to additional payments upon the achievement of performance-based milestones. If the achievement of a milestone is considered probable at the inception of the collaboration, the related milestone payment is included with other collaboration consideration, such as upfront payments and research funding, in the Company's revenue model. Milestones that involve substantial effort on the Company's part and the achievement of which are not considered probable at the inception of the collaboration are considered "substantive milestones."

Contingent consideration received from the achievement of a substantive milestone subsequent to April 1, 2011, is recognized in its entirety in the period in which the milestone is achieved, which the Company believes is more consistent with the substance of its performance under its various collaboration agreements. A milestone is defined as an event (i) that can only be achieved based in whole or in part on either the entity's performance or on the occurrence of a specific outcome resulting from the entity's performance, (ii) for which there is substantive uncertainty at the date the arrangement is entered into that the event will be achieved, and (iii) that would result in additional payments being due to the entity. A milestone is substantive if the consideration earned from the achievement of the milestone is consistent with the Company's performance required to achieve the milestone, or the increase in value to the collaboration resulting from the Company's performance, relates solely to the Company's past performance, and is reasonable relative to all of the other deliverables and payments within the arrangement. The Company's collaboration agreements with its partners provide for payments to the Company upon the achievement of development milestones, such as the completion of clinical trials or regulatory approval for drug candidates.

Milestone payments received prior to April 1, 2011 from arrangements where the Company has continuing performance obligations have been deferred and are recognized through the application of a proportional performance model where the milestone payment is recognized over the related performance period or, in full, when there are no remaining performance obligations. The Company makes its best estimate of the period of time for the performance period. The Company will continue to recognize milestone payments received prior to April 1, 2011 in this manner. As of March 31, 2013, the Company has deferred revenue of $4.3 million from milestone payments received prior to April 1, 2011 that will be recognized through the use of a proportional performance model through 2018.

Amounts received prior to satisfying the above revenue recognition criteria are recorded as deferred revenue in the accompanying consolidated balance sheets. Although the Company follows detailed guidelines in measuring revenue, certain judgments affect the application of its revenue policy. For example, in connection with the Company's existing collaboration agreements, the Company has recorded on its balance sheet short-term and long-term deferred revenue based on its best estimate of when such revenue will be recognized. Short-term deferred revenue consists of amounts that are expected to be recognized as revenue in the next 12 months. Amounts that the Company expects will not be recognized within the next 12 months are classified as long-term deferred revenue. However, this estimate is based on the Company's current operating plan and, if its operating plan should change in the future, the Company may recognize a different amount of deferred revenue over the next 12-month period.

The estimate of deferred revenue also reflects management's estimate of the periods of the Company's involvement in certain of its collaborations. The Company's performance obligations under these collaborations consist of participation on steering committees and the performance of other research and development services. In certain instances, the timing of satisfying these obligations can be difficult to estimate. Accordingly, the Company's estimates may change in the future. Such changes to estimates would result in a change in revenue recognition amounts. If these estimates and judgments change over the course of these agreements, it may affect the timing and amount of revenue that the Company recognizes and records in future periods. At March 31, 2013, the Company had short-term and long-term deferred revenue of $2.3 million and $8.9 million, respectively, related to its collaborations.

Manufacturing revenues—The Company recognizes manufacturing revenues from the sale of products it manufactures for resale by its collaborative partners. Manufacturing revenues are recognized when persuasive evidence of an arrangement exists, delivery has occurred and title to the product and associated risk of loss has passed to the customer, the sales price is fixed or determinable and collectability is reasonably assured. The sales price for certain of the Company's manufacturing revenues is based on the end-market sales price earned by its collaborative partners. As the end-market sale occurs after the Company has shipped its product and the risk of loss has passed to its collaborative partner, the Company estimates the sales price for its product based on information supplied to it by the Company's collaborative partners, its historical transaction experience and other third-party data. Differences between the actual manufacturing revenues and estimated manufacturing revenues are reconciled and adjusted for in the period in which they become known.

Royalty revenues—The Company recognizes royalty revenues related to the sale of products by its collaborative partners that incorporates the Company's technology. Royalties are earned under the terms of a license agreement in the period the products are sold by the Company's collaborative partner and collectability is reasonably assured. Certain of the Company's royalty revenues are recognized by the Company based on information supplied to the Company by its collaborative partners and require estimates to be made. Differences between the actual royalty revenues and estimated royalty revenues are reconciled and adjusted for in the period in which they become known, which is generally the following quarter.

Research and development revenues—R&D revenue consists of funding that compensates the Company for formulation, pre-clinical and clinical testing under R&D arrangements. The Company generally bills its partners under R&D arrangements using a full-time equivalent ("FTE") or hourly rate, plus direct external costs, if any.

Product Sales, Net

The Company's product sales consist of sales of VIVITROL in the U.S. to wholesalers, specialty distributors and specialty pharmacies. Product sales are recognized from the sale of VIVITROL when persuasive evidence of an arrangement exists, title to the product and associated risk of loss has passed to the customer, which is considered to occur when the product has been received by the customer, the sales price is fixed or determinable and collectability is reasonably assured.

The Company records its product sales net of the following significant categories of sales discounts and allowances as a reduction of product sales at the time VIVITROL is shipped:

•

Medicaid Rebates—the Company records accruals for rebates to states under the Medicaid Drug Rebate Program as a reduction of sales when the product is shipped into the distribution channel. The Company rebates individual states for all eligible units purchased under the Medicaid program based on a rebate per unit calculation, which is based on its Average Manufacturer Price ("AMP"). The Company estimates expected unit sales and rebates per unit under the Medicaid program and adjusts its rebate estimates based on actual unit sales and rebates per unit.

•

Chargebacks—wholesaler and specialty pharmacy chargebacks are discounts that occur when contracted customers purchase directly from an intermediary wholesale purchaser. Contracted customers, which consist primarily of federal government agencies purchasing under the federal supply schedule, generally purchase the product at its contracted price, plus a mark-up from the wholesaler. The wholesaler, in-turn, charges back to the Company the difference between the price initially paid by the wholesaler and the contracted price paid to the wholesaler by the customer. The allowance for chargebacks is based on actual and expected utilization of these programs. Chargebacks could exceed historical experience and the Company's estimates of future participation in these programs. To date, actual chargebacks have not differed materially from the Company's estimates.

•

Product Returns—in August 2012, the Company changed the way in which revenue is recognized on VIVITROL product sales. Prior to August 1, 2012, the Company did not have sufficient history to reasonably estimate returns related to VIVITROL shipments and, therefore, the Company deferred the recognition of revenue on shipments of VIVITROL until the product left the distribution channel. In August 2012, it was determined there was sufficient history to reliably estimate returns, and revenue on the sales of VIVITROL is now recognized upon delivery to wholesalers, distributors and pharmacies, which is the point in time the customer assumes the risks and rewards of ownership. This change in the method of revenue recognition resulted in a one-time $1.7 million increase to "Product sales, net" in the accompanying consolidated statements of operations and comprehensive income (loss), which was recognized during the three months ended September 30, 2012.
- Based on this revised revenue recognition policy, a reserve is now estimated for future product returns on VIVITROL gross product sales. This estimate is based on historical return rates as well as specifically identified anticipated returns due to known business conditions and product expiry dates. Return amounts are recorded as a deduction to arrive at VIVITROL product sales, net. Once VIVITROL is returned, it is destroyed. At March 31, 2013, the product return reserve was estimated to be approximately 2% of product sales and amounts to $3.2 million.
•

Co-pay assistance—the Company has a program whereby a patient can receive up to $500 per month towards their co-payment, co-insurance or deductible, provided the patient meets certain eligibility criteria. Reserves are recorded upon the sale of VIVITROL.

Risk-Management Instruments

The Company's derivative activities are initiated within the guidelines of documented corporate risk management policies and do not create additional risk because gains and losses on derivative contracts offset losses and gains on the liabilities being hedged. At March 31, 2013, the Company's risk management instruments consisted of an interest rate swap agreement and an interest rate cap agreement. The objective of the interest rate cap and swap agreements are to limit the impact of fluctuations in interest rates in earnings related to the Company's long-term debt. The interest rate cap and swap agreements are not designated as hedging instruments and are recorded at fair value. The associated gains and losses related to the interest rate cap are recognized in "Other income (expense), net" and the associated gains and losses related to the interest rate swap are recognized in "Interest expense" during the period of change. Refer to Note 12, Derivative Instruments, for additional information related to the Company's risk management instruments.

Foreign Currency

The Company's functional and reporting currency is the U.S. dollar. Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of the transaction. The resulting monetary assets and liabilities are translated into U.S. dollars at exchange rates prevailing on the subsequent balance sheet date. Gains and losses as a result of translation adjustments are recorded within "Other income (expense), net" in the accompanying consolidated statement of operations and comprehensive income (loss). During the years ended March 31, 2013, 2012 and 2011, the Company recorded a gain on foreign currency translation of $0.1 million, $0.5 million and none, respectively.

Concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and marketable securities. Billings to large pharmaceutical and biotechnology companies account for the majority of the Company's accounts receivable, and collateral is generally not required from these customers. To mitigate credit risk, the Company monitors the financial performance and credit worthiness of its customers. The following represents revenue and receivables from the Company's customers exceeding 10% of the total in each category as of, and for the years ended, March 31:

	2013						2012						2011

Customer	Receivables			Revenue			Receivables			Revenue			Receivables			Revenue
Janssen		32	%		35	%		30	%		48	%		75	%		83	%
Acorda		15	%		11	%		11	%		—			—			—

The Company generally holds its interest-bearing investments with major financial institutions and in accordance with documented investment policies and the Company limits the amount of credit exposure to any one financial institution or corporate issuer. The Company's investment objectives are, first, to assure liquidity and conservation of capital and, second, to obtain investment income.

Geographic Information

Company revenues by geographic location, as determined by the location of the customer, and the location of its assets, are as follows:

	Year Ended March 31,

(In thousands)	2013		2012		2011
Revenue by region:
U.S.	$	380,565	$	212,859	$	76,700
Ireland		14,455		12,695		805
Rest of world		180,528		164,423		109,135
Assets by region:
Current assets:
U.S.	$	248,441	$	209,683	$	252,960
Ireland		159,544		122,077		—
Rest of world		603		7,393		—
Long-term assets:
U.S.	$	233,369	$	217,406	$	199,488
Ireland		828,334		878,658		—
Rest of world		—		—		—

Research and Development Expenses

For each of the R&D programs, the Company incurs both external and internal expenses. External R&D expenses include costs related to clinical and non-clinical activities performed by contract research organizations, consulting fees, laboratory services, purchases of drug product materials and third-party manufacturing development costs. Internal R&D expenses include employee-related expenses, occupancy costs, depreciation and general overhead. The Company tracks external R&D expenses for each of its development programs, however, internal R&D expenses are not tracked by individual program as they benefit multiple programs or its technologies in general.

Share-Based Compensation

The Company's share-based compensation programs grant awards which include stock options and restricted stock units ("RSUs"), which vest with the passage of time and, to a limited extent, vest based on the achievement of certain performance or market criteria. Certain of the Company's employees are retirement eligible under the terms of the Company's stock option plans (the "Plans"), and stock option awards to these employees generally vest in full upon retirement. Since there are no effective future service requirements for these employees, the fair value of these awards is expensed in full on the grant date.

Stock Options

Stock option grants to employees generally expire ten years from the grant date and generally vest one-fourth per year over four years from the anniversary of the date of grant, provided the employee remains continuously employed with the Company, except as otherwise provided in the plan. Stock option grants to directors are for ten-year terms and generally vest over a one-year period provided the director continues to serve on the Company's board of directors through the vesting date, except as otherwise provided in the plan. The estimated fair value of options is recognized over the requisite service period, which is generally the vesting period. Share-based compensation expense is based on awards ultimately expected to vest. Forfeitures are estimated based on historical experience at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates.

The fair value of stock option grants is based on estimates as of the date of grant using a Black-Scholes option valuation model. The Company uses historical data as the basis for estimating option terms and forfeitures. Separate groups of employees that have similar historical stock option exercise and forfeiture behavior are considered separately for valuation purposes. The ranges of expected terms disclosed below reflect different expected behavior among certain groups of employees. Expected stock volatility factors are based on a weighted average of implied volatilities from traded options on the Company's ordinary shares and historical stock price volatility of the Company's ordinary shares, which is determined based on a review of the weighted average of historical daily price changes of the Company's ordinary shares. The risk-free interest rate for periods commensurate with the expected term of the share option is based on the U.S. treasury yield curve in effect at the time of grants. The dividend yield on the Company's ordinary shares is estimated to be zero as the Company has not paid and does not expect to pay dividends. The exercise price of options granted prior to October 7, 2008 equals the average of the high and low of the Company's ordinary shares traded on the NASDAQ Global Select Stock Market on the date of grant. Beginning with the adoption of the Alkermes, Inc. 2008 Stock Option and Incentive Plan (the "2008 Plan"), the exercise price of option grants made after October 7, 2008 is equal to the closing price of the Company's ordinary shares traded on the NASDAQ Global Select Stock Market on the date of grant.

The fair value of each stock option grant was estimated on the grant date with the following weighted-average assumptions:

	Year Ended March 31,

	2013	2012	2011
Expected option term	5 - 7 years	5 - 7 years	5 - 7 years
Expected stock volatility	47% - 49%	47% - 51%	46% - 51%
Risk-free interest rate	0.61% - 1.18%	0.82% - 2.5%	1.11% - 3.42%
Expected annual dividend yield	—	—	—

Time-Vested Restricted Stock Units

Time-vested RSUs awarded to employees generally vest one-fourth per year over four years from the anniversary of the date of grant, provided the employee remains continuously employed with the Company. Shares of the Company's ordinary shares are delivered to the employee upon vesting, subject to payment of applicable withholding taxes. The fair value of time-vested RSUs is based on the market value of the Company's stock on the date of grant. Compensation expense, including the effect of forfeitures, is recognized over the applicable service period.

Income Taxes

The Company recognizes income taxes under the asset and liability method. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted statutory tax rates in effect for the years in which the differences are expected to reverse. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. The Company accounts for uncertain tax positions using a "more-likely-than-not" threshold for recognizing and resolving uncertain tax positions. The evaluation of uncertain tax positions is based on factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity and changes in facts or circumstances related to a tax position. The Company evaluates this tax position on a quarterly basis. The Company also accrues for potential interest and penalties related to unrecognized tax benefits in income tax expense.

Comprehensive Income (Loss)

Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes changes in equity that are excluded from net income (loss), such as unrealized holding gains and losses on available-for-sale marketable securities and unrealized gains and losses on cash flow hedges.

Earnings (Loss) per Share

Basic earnings (loss) per share are calculated based upon net income (loss) available to holders of common shares divided by the weighted average number of shares outstanding. For the calculation of diluted earnings per share, the Company uses the weighted average number of shares outstanding, as adjusted for the effect of potential dilutive securities, including stock options and RSUs.

Segment Information

The Company operates as one business segment, which is the business of developing, manufacturing and commercializing medicines designed to yield better therapeutic outcomes and improve the lives of patients with serious diseases. The Company's chief decision maker, the Chairman and Chief Executive Officer, reviews the Company's operating results on an aggregate basis and manages the Company's operations as a single operating unit.

Employee Benefit Plans

401(K) Plan

The Company maintains a 401(k) retirement savings plan (the "401(k) Plan"), which covers substantially all of its U.S.-based employees. Eligible employees may contribute up to 100% of their eligible compensation, subject to certain Internal Revenue Service ("IRS") limitations. Through March 31, 2012, the Company matched 50% of the first 6% of employee pay and beginning April 1, 2012, the Company matches 100% of employee contributions up to the first 5% of employee pay, up to IRS limits. Employee and Company contributions are fully vested when made. During the years ended March 31, 2013, 2012 and 2011, the Company contributed $4.1 million, $2.5 million and $2.0 million, respectively, to match employee deferrals under the 401(k) Plan.

Defined Contribution Plan

The Company maintains a defined contribution plan for its Ireland-based employees (the "defined contribution plan"). The defined contribution plan provides for eligible employees to contribute up to the maximum of 40%, depending upon their age, of their total taxable earnings subject to an earnings cap of €115,000. The Company provides a match of up to 18% of taxable earnings depending upon an individual's contribution level. During the years ended March 31, 2013, 2012 and 2011, the Company contributed $3.7 million, $1.8 million and none, respectively, in contributions to the defined contribution plan.

Reclassifications

An amount equal to $45.8 million that was previously classified as "Amortization of acquired intangibles" in the year ended March 31, 2012, has been reclassified to "Impairment of long-lived assets" in the accompanying consolidated statements of operations and comprehensive income (loss) and statement of cash flows to conform to current period presentation.

Similarly, $3.7 million and $1.4 million that were previously classified as "Proceeds from the issuance of ordinary shares under share-based compensation arrangements" in the years ended March 31, 2012 and 2011, respectively, have been reclassified to "Employee taxes paid related to net share settlement of equity awards" in the accompanying consolidated statements of cash flows to conform to current period presentation.

New Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard-setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

ACQUISITIONS

12 Months Ended

Mar. 31, 2013

ACQUISITIONS

ACQUISITIONS

3. ACQUISITIONS

On September 16, 2011, the Company acquired EDT from Elan in a transaction accounted for under the acquisition method of accounting for business combinations, in exchange for $500.0 million in cash and 31.9 million ordinary shares of Alkermes, Inc., valued at $525.1 million, based on a stock price of $16.46 per share on the acquisition date. Under the acquisition method of accounting, the assets acquired and liabilities assumed were recorded as of the acquisition date, at their respective fair values. The reported consolidated financial condition and results of operations after completion of the acquisition reflect these fair values. EDT's results of operations are included in the consolidated financial statements from the date of acquisition.

Prior to the acquisition, EDT, which was a division of Elan, developed and manufactured pharmaceutical products that deliver clinical benefits to patients using EDT's experience and proprietary drug technologies in collaboration with other pharmaceutical companies worldwide. EDT's two principal drug technology platforms are the oral controlled release platform ("OCR") and the bioavailability enhancement platform, including EDT's NanoCrystal® technology.

During the year ended March 31, 2012, the Company incurred approximately $29.1 million in expenses related to the EDT acquisition, which primarily consisted of banking, legal, accounting and valuation-related expenses. These expenses have been recorded within "Selling, general and administrative expenses" in the accompanying consolidated statement of operations and comprehensive income (loss). During the year ended March 31, 2012, the Company's results of operations included revenues of $165.0 million and net loss of $6.3 million from the acquired EDT business.

The purchase price of the EDT business was as follows (in thousands):


Upfront payment in accordance with the merger agreement	$	500,000
Equity consideration in accordance with the merger agreement		525,074

Total purchase price	$	1,025,074

The purchase price allocation resulted in the following amounts being allocated to the assets acquired and liabilities assumed at the acquisition date based upon their respective fair values, summarized below (in thousands):


Cash	$	5,225
Receivables		59,398
Inventory		29,669
Prepaid expenses and other current assets		1,806
Property plant and equipment		210,558
Acquired identifiable intangible assets		689,000
Goodwill		92,740
Other assets		4,360
Accounts payable and accrued expenses		(18,650	)
Deferred tax liabilities		(48,448	)
Other long-term liabilities		(584	)

Total	$	1,025,074

Asset categories acquired in the EDT acquisition included working capital, fixed assets and identifiable intangible assets, including IPR&D.

The intangible assets acquired included the following (in thousands):


Collaboration agreements	$	499,700
NanoCrystal technology		74,600
OCR technology		66,300
In-process research and development		45,800
Trademark		2,600

Total	$	689,000

On the acquisition date, EDT had several collaboration agreements in place with third-party pharmaceutical companies related to the development and commercialization of a number of products including INVEGA® SUSTENNA®/XEPLION®, AMPYRA®/FAMPYRA®, TRICOR 145®, RITALIN LA®, FOCALIN® XR. , EMEND® and VERELAN®/VERAPAMIL®. For a complete listing of commercial products utilizing the NanoCrystal technology and Oral Controlled Release technology, including the product indication, collaborative partner, and revenue source, please refer to our "Commercial Products Table" on page 7 of this Annual Report.

The Company determined the value of each collaboration agreement through the use of the excess earnings method. The Company estimated future revenues to be earned under EDT's collaboration agreements for the remainder of the year ended March 31, 2012 through the fiscal year ending March 31, 2027, and reduced such future revenues by (i) a projected gross margin percentage, (ii) an estimate of operating expenses to be incurred related to these agreements, and (iii) contributory asset charges for working capital and fixed assets. The Company then applied an estimated tax rate, determined based upon the jurisdictions in which the underlying intangible assets are taxed, to arrive at the excess earnings.

The Company converted the excess earnings attributable to the collaboration agreements to a present value using a discount rate of 14.5%. This discount rate is equal to the Internal Rate of Return ("IRR") the Company calculated as part of the EDT acquisition. The IRR represents the return a market participant would expect to generate through the acquisition of EDT as well as the level of risk reflected in the financial projections used as the basis for the Company's valuation analysis. Based on the valuation performed, the Company estimated its collaboration agreements to have a value on the acquisition date of $499.7 million.

The Company determined the useful life of the collaboration agreements to be 12 years, which is the Company's best estimate as to the remaining life of the intellectual property for the products underlying the collaboration agreements and the life of the collaboration agreements themselves.

The Company determined the value of the NanoCrystal and OCR technologies through the use of the income approach, specifically the relief-from-royalty method. The Company estimated the savings in royalties that EDT would otherwise have had to pay if it had not owned the NanoCrystal and OCR technologies and had to license it from a third party with rights of use substantially equivalent to ownership. The Company estimated the present value of the stream of future estimated after-tax royalty payments for the remainder of the year ended March 31, 2012 through the fiscal year ending March 31, 2027. The Company converted the after-tax royalty payments to a present value using the same discount rate of 14.5% as used in the analysis of the collaboration agreements. Based on the valuation performed, the Company estimated its NanoCrystal and OCR technologies to have a value on the acquisition date of $74.6 million and $66.3 million, respectively.

The Company determined the useful life of the NanoCrystal and OCR technologies to be 13 and 12 years, respectively, which is the Company's best estimate as to the remaining life of the intellectual property.

Intangible assets associated with IPR&D related to three EDT product candidates. The estimated fair value for the collaboration agreements and IPR&D was determined using the excess earnings approach. The excess earnings approach includes projecting revenue and costs attributable to the associated collaboration agreement or product candidate and then subtracting the required return related to other contributory assets used in the business to determine any residual excess earnings attributable to the collaboration agreement or product candidate. The after-tax excess earnings are then discounted to present value using an appropriate discount rate. During the fourth quarter of fiscal year 2012, and after finalization of the purchase accounting for the Business Combination, the Company identified events and changes in circumstance, such as correspondence from regulatory authorities and further clinical trial results related to the three product candidates acquired as part of the Business Combination, which indicated that the assets may be impaired. Accordingly, the Company recorded an impairment charge of $45.8 million within "Impairment of long-lived assets" in the accompanying statement of operations and comprehensive income (loss). See Note 8, Goodwill and Intangible Assets for additional details.

The estimated fair value of the EDT trademark was determined using the relief from royalty method. The Company did not expect to use the EDT trademark beyond March 31, 2012 and, as a result, the Company amortized the full value of the trademark during the year ended March 31, 2012.

The excess of purchase price over the fair value amounts assigned to the assets acquired and liabilities assumed represents the goodwill amount resulting from the acquisition. The Company does not expect any portion of this goodwill to be deductible for tax purposes. The goodwill attributable to the acquisition of EDT has been recorded as a noncurrent asset and is not amortized, but is subject to an annual review for impairment. The factors that contributed to the recognition of goodwill included the synergies that are specific to the Company's business and not available to market participants, including the Company's unique ability to leverage its knowledge in the areas of drug delivery and development of innovative medicines to improve patients' lives, the acquisition of a talented workforce that brings translational medicine expertise to the Company's preclinical compounds and the Company's ability to utilize its research capacity to develop additional compounds using the acquired technologies.

Pro forma financial information (unaudited)

The following unaudited pro forma information presents the combined results of operations for years ended March 31, 2012 and 2011 as if the acquisition of EDT had been completed on April 1, 2010. The unaudited pro forma results do not reflect any material adjustments, operating efficiencies or potential cost savings which may result from the consolidation of operations but do reflect certain adjustments expected to have a continuing impact on the combined results.

	Year Ended March 31,

(In thousands, except per share data)	2012			2011
Revenues	$	500,105		$	450,222
Net (loss) income	$	(108,782	)	$	10,265
Basic and diluted (loss) earnings per common share	$	(0.84	)	$	0.08

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7008-128479

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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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-Number 88-16
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph F4
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-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

INVESTMENTS

12 Months Ended

Mar. 31, 2013

INVESTMENTS

INVESTMENTS

4. INVESTMENTS

Investments consist of the following:

			Gross Unrealized

					Losses
(In thousands)	Amortized Cost		Gains		Less than One Year			Greater than One Year			Estimated Fair Value
March 31, 2013
Short-term investments:
Available-for-sale securities:
U.S. government and agency debt securities	$	102,093	$	29	$	(1	)	$	—		$	102,121
Corporate debt securities		10,946		27		—			—			10,973
International government agency debt securities		10,089		8		(1	)		—			10,096

		123,128		64		(2	)		—			123,190

Money market funds		1,201		—		—			—			1,201

		124,329		64		(2	)		—			124,391

Long-term investments:
Available-for-sale securities:
U.S. government and agency debt securities		60,047		—		(17	)		—			60,030
Corporate debt securities		18,725		—		(26	)		(162	)		18,537
International government agency debt securities		3,060		—		—			—			3,060

		81,832		—		(43	)		(162	)		81,627

Held-to-maturity securities:
Certificates of deposit		1,200		—		—			—			1,200

		83,032		—		(43	)		(162	)		82,827

Total investments	$	207,361	$	64	$	(45	)	$	(162	)	$	207,218

March 31, 2012
Short-term investments:
Available-for-sale securities:
U.S. government and agency debt securities	$	62,925	$	67	$	(17	)	$	—		$	62,975
International government agency debt securities		25,646		22		(2	)		—			25,666
Corporate debt securities		12,324		27		—			—			12,351

		100,895		116		(19	)		—			100,992

Held-to-maturity securities:
Certificates of deposit		4,236		—		—			—			4,236
U.S. government obligations		417		—		—			—			417

		4,653		—		—			—			4,653

Money market funds		1,201		—		—			—			1,201

		106,749		116		(19	)		—			106,846

Long-term investments:
Available-for-sale securities:
U.S. government and agency debt securities		35,493		—		(70	)		—			35,423
International government agency debt securities		10,257		—		(20	)		—			10,237
Corporate debt securities		8,009		—		—			(660	)		7,349
Strategic investments		644		838		—			—			1,482

		54,403		838		(90	)		(660	)		54,491

Held-to-maturity securities:
Certificates of deposit		1,200		—		—			—			1,200

		55,603		838		(90	)		(660	)		55,691

Total investments	$	162,352	$	954	$	(109	)	$	(660	)	$	162,537

The proceeds from the sales and maturities of marketable securities, excluding strategic equity investments, which were primarily reinvested and resulted in realized gains and losses, were as follows:

	Year Ended March 31,

(In thousands)	2013		2012		2011
Proceeds from the sales and maturities of marketable securities	$	258,937	$	323,028	$	385,511
Realized gains	$	39	$	47	$	77
Realized losses	$	5	$	11	$	32

In addition, during the year ended March 31, 2013, the Company sold $4.7 million of its held-to-maturity securities. These securities were held as collateral for certain lease agreements that ended in June 2012. There were no gains or losses recognized on the sale of these investments. The Company's available-for-sale and held-to-maturity securities at March 31, 2013 have contractual maturities in the following periods:

	Available-for-sale				Held-to-maturity

(In thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Within 1 year	$	80,388	$	80,399	$	1,200	$	1,200
After 1 year through 5 years		124,572		124,418		—		—

Total	$	204,960	$	204,817	$	1,200	$	1,200

At March 31, 2013, the Company believes that the unrealized losses on its available-for-sale investments are temporary. The investments with unrealized losses consist primarily of corporate debt securities. In making the determination that the decline in fair value of these securities was temporary, the Company considered various factors, including but not limited to: the length of time each security was in an unrealized loss position; the extent to which fair value was less than cost; financial condition and near-term prospects of the issuers; and the Company's intent not to sell these securities, and the assessment that it is more likely than not that the Company would not be required to sell these securities before the recovery of their amortized cost basis.

The Company's investment in Acceleron Pharma, Inc. ("Acceleron") was $8.7 million at March 31, 2013 and 2012, which is recorded within "Other assets" in the accompanying consolidated balance sheets. The Company accounts for its investment in Acceleron under the cost method as Acceleron is a privately-held company over which the Company does not exercise significant influence. The Company continues to monitor this investment to evaluate whether any decline in its value has occurred that would be other-than-temporary, based on the implied value from any recent rounds of financing completed by Acceleron, market prices of comparable public companies and general market conditions.

The Company's investment in Civitas Therapeutics, Inc. ("Civitas") was $0.8 million and $2.0 million at March 31, 2013 and 2012, respectively, which is recorded within "Other assets" in the accompanying consolidated balance sheets. The Company accounts for its investment in Civitas under the equity method as the Company has an approximately 11% ownership position in Civitas, has a seat on the board of directors and believes it may be able to exercise significant influence over the operating and financial policies of Civitas.

During the year ended March 31, 2012, Civitas issued 14.3 million shares of Series A preferred stock in exchange for $12.5 million. The Company did not participate in the financing, however, it received 12.4% of these Series A preferred shares in accordance with the terms of its arrangement with Civitas and recorded an increase to its investment in Civitas of $1.5 million. The Company has deferred the recognition of the gain on its investment in Civitas and will recognize it into "Other (expense) income, net", ratably over a period of approximately four years, in the Company's consolidated statement of operations and comprehensive income (loss). During the year ended March 31, 2013, the Company recorded a reduction in its investment in Civitas of $1.2 million, which represented the Company's proportionate share of Civitas' net losses for this period.

In December 2012, the Company and four other existing investors agreed to provide Civitas with a promissory note in the amount of $9.0 million. The promissory note will pay 6% interest per year, is payable on demand at any time on or after December 18, 2013, and is convertible into either common or preferred shares of Civitas upon a majority vote of the promissory note holders on or after December 18, 2013, or in the event of a qualified financing as defined in the Note Purchase Agreement. The Company's share of the promissory note, $1.1 million, was recorded within "Prepaid expenses and other current assets" in the accompanying consolidated balance sheets.

FAIR VALUE

12 Months Ended

Mar. 31, 2013

FAIR VALUE

FAIR VALUE

5. FAIR VALUE

The following table presents information about the Company's assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy and the valuation techniques the Company utilized to determine such fair value:

(In thousands)	March 31, 2013			Level 1		Level 2			Level 3

Assets:
Cash equivalents	$	1,201		$	1,201	$	—		$	—
U.S. government and agency debt securities		162,151			75,025		87,126			—
International government agency debt securities		13,156			—		13,156			—
Corporate debt securities		29,510			—		29,510			—

Total	$	206,018		$	76,226	$	129,792		$	—

Liabilities:
Interest rate swap contract	$	(541	)		—		(541	)		—

Total	$	(541	)	$	—	$	(541	)	$	—

	March 31, 2012			Level 1		Level 2			Level 3

Assets:
Cash equivalents	$	1,201		$	1,201	$	—		$	—
U.S. government and agency debt securities		98,398			98,398		—			—
International government agency debt securities		35,903			30,902		—			5,001
Corporate debt securities		19,700			—		14,045			5,655
Strategic equity investments		1,482			1,482		—			—
Interest rate cap contracts		20			—		20			—

	$	156,704		$	131,983	$	14,065		$	10,656

Liabilities:
Interest rate swap contract	$	(522	)		—		(522	)		—

Total	$	(522	)	$	—	$	(522	)	$	—

The following table is a rollforward of the fair value of the Company's investments whose fair value was determined using Level 3 inputs at March 31, 2013:

(In thousands)	Fair Value

Balance, April 1, 2012	$	10,656
Investments transferred into Level 3		1,579
Investments transferred out of Level 3		(12,247	)
Total unrealized gains included in comprehensive loss		12

Balance, March 31, 2013	$	—

The Company transfers its financial assets and liabilities measured at fair value on a recurring basis between fair value hierarchies at the end of each reporting period. During the year ended March 31, 2013, the Company transferred $87.1 million of its investments in U.S. government agency debt securities and $3.1 million of its investments in international government agency debt securities from Level 1 to Level 2 as the Company had limited visibility into their trading volumes. There were no transfers of any securities from Level 2 to Level 1 during the year ended March 31, 2013. Also, during the year ended March 31, 2013, there were two securities transferred from Level 3 to Level 2 as trading resumed for these securities.

A third-party pricing service was used to determine the estimated fair value of the Company's securities. The third-party pricing service develops its estimate of fair value through a proprietary model using variables including reportable trades and last trade date, bids and offers, trading frequency, benchmark yields, credit spreads and other industry and economic events. The Company validates the prices provided by its third-party pricing service by reviewing their pricing methods and matrices, obtaining market values from other pricing sources, analyzing pricing data in certain instances and confirming the activity in the relevant markets. After completing its validation procedures, the Company did not adjust or override any fair value measurements provided by its pricing services at March 31, 2013.

The Company's investments in US government and agency debt securities, international government agency debt securities and corporate debt securities classified as Level 2 were initially valued at the transaction price and subsequently valued, at the end of each reporting period, utilizing market observable data. The market observable data includes reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events. The Company validates the prices developed using the market observable data by obtaining market values from other pricing sources, analyzing pricing data in certain instances and confirming that the relevant markets are active.

In September and December 2011, the Company entered into interest rate cap agreements, and, in September 2011, the Company entered into an interest rate swap agreement. These agreements are described in greater detail in Note 12, Derivative Instruments. The fair value of the Company's interest rate cap and interest rate swap agreements were based on an income approach, which excludes accrued interest, and takes into consideration then-current interest rates and then-current creditworthiness of the Company or the counterparty, as applicable.

The carrying amounts reflected in the consolidated balance sheets for cash and cash equivalents, accounts receivable, other current assets, accounts payable and accrued expenses approximate fair value due to their short-term nature. The fair value of the remaining financial instruments not currently recognized at fair value on the Company's consolidated balance sheets consist of the $300.0 million, seven-year term loan bearing interest at LIBOR plus 2.75% with a LIBOR floor of 0.75% ("Term Loan B-1") and the $75.0 million, four-year term loan bearing interest at LIBOR plus 2.75%, with no LIBOR floor ("Term Loan B-2" and together with Term Loan B-1, the "2013 Term Loans"). The estimated fair value of these term loans, which was based on quoted market price indications (Level 2 in the fair value hierarchy) and may not be representative of actual values that could have been or will be realized in the future at March 31, 2013, was as follows:

(In thousands)	Carrying Value		Estimated Fair Value

Term Loan B-1	$	296,029	$	298,375
Term Loan B-2	$	72,979	$	73,308

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

INVENTORY

12 Months Ended

Mar. 31, 2013

INVENTORY

INVENTORY

6. INVENTORY

Inventory consists of the following:

	March 31,

(In thousands)	2013		2012
Raw materials	$	13,506	$	12,841
Work in process		13,842		9,569
Finished goods(1)		16,135		16,968
Consigned-out inventory(2)		—		381

Inventory	$	43,483	$	39,759

(1): At March 31, 2013 and 2012, the Company had $0.6 million and $1.3 million, respectively, of finished goods inventory located at its third party warehouse and shipping service provider.
(2): At March 31, 2012, consigned-out inventory related to VIVITROL inventory in the distribution channel for which the Company had not recognized revenue. As previously disclosed, in August 2012, the Company changed the way in which revenue is recognized on VIVITROL product sales, and, consequently, it no longer expects to have consigned-out inventory.

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Mar. 31, 2013

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

7. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	March 31,

(In thousands)	2013			2012
Land	$	8,357		$	8,891
Building and improvements		141,092			127,583
Furniture, fixture and equipment		197,743			189,262
Leasehold improvements		24,137			45,798
Construction in progress		39,399			44,768

Subtotal		410,728			416,302
Less: accumulated depreciation		(122,293	)		(113,307	)

Total property, plant and equipment, net	$	288,435		$	302,995

The Company reclassified $11.5 million of "Furniture, fixtures, and equipment" and $0.7 million of "Land" at March 31, 2012 as "Buildings and improvements" to revise prior period presentation. Depreciation expense was $31.9 million, $22.5 million and $8.7 million for the years ended March 31, 2013, 2012 and 2011, respectively.

During the year ended March 31, 2013, the Company performed an impairment analysis on certain of its manufacturing equipment dedicated to the production of VIVITROL. This equipment was originally purchased by Cephalon in connection with the VIVITROL collaboration and later acquired by the Company upon the termination of the VIVITROL collaboration with Cephalon. The Company determined that these assets will not be used in the future production of VIVITROL and recorded an impairment charge of $3.3 million to write the assets down to their fair value. Fair value was determined using level 3 inputs including internally established estimates and the selling prices of similar assets. Also, during the years ended March 31, 2013 and 2012, the Company wrote off furniture, fixtures and equipment that had a carrying value of less than $0.1 million at the time of disposition and received proceeds from the sales of furniture, fixtures and equipment of less than $0.1 million.

Amounts included as construction in progress in the consolidated balance sheets primarily include capital expenditures at the Company's manufacturing facility in Ohio. The Company continues to evaluate its manufacturing capacity based on expectations of demand for its products and will continue to record such amounts within construction in progress until such time as the underlying assets are placed into service. The Company continues to periodically evaluate whether facts and circumstances indicate that the carrying value of its long-lived assets to be held and used may not be recoverable.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Mar. 31, 2013

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

8. GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets consists of the following:

			March 31, 2012							March 31, 2013

(In thousands)	Weighted Amortizable Life		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Goodwill			$	92,740	$	—		$	92,740	$	92,740	$	—		$	92,740

Finite-lived intangible assets:
Collaboration agreements		12	$	499,700	$	(17,734	)	$	481,966	$	499,700	$	(50,143	)	$	449,557
NanoCrystal technology		13		74,600		(1,839	)		72,761		74,600		(5,373	)		69,227
OCR technology		12		66,300		(3,182	)		63,118		66,300		(9,091	)		57,209
Trademark		—		2,600		(2,600	)		—		—		—			—

Total finite-lived intangible assets			$	643,200	$	(25,355	)	$	617,845	$	640,600	$	(64,607	)	$	575,993

Indefinite-lived intangible assets
IPR&D		—		45,800		(45,800	)		—		—		—			—

Total			$	689,000		$(71,155	)		$617,845		$640,600		$(64,607	)		$575,993

During the three months ended December 31, 2012, the Company performed its annual goodwill impairment test. The Company worked with a third-party valuation firm and established fair value for the purpose of impairment testing by using an average of the income approach and the market approach. The income approach employs a discounted cash flow model that takes into account (i) assumptions that market participants would use in their estimates of fair value, (ii) current period actual results, and (iii) budgeted results for future periods that have been vetted by senior management. The discounted cash flow model incorporates the same fundamental pricing concepts used to calculate fair value in an acquisition due diligence process and a discount rate that takes into consideration the Company's estimated cost of capital adjusted for the uncertainty inherent in an acquisition. The market approach employs market multiples for comparable publicly traded companies in the pharmaceutical and biotechnology industries obtained from industry sources, taking into consideration the nature, scope and size of the acquired reporting unit. In the market approach, estimates of fair value are established using an average of both revenue and EBITDA multiples, adjusted for the reporting unit's performance relative to peer companies.

The Company determined that the fair value of its reporting unit was substantially in excess of its respective carrying value and there was no impairment in the value of this asset as of October 31, 2012.

During the three months ended March 31, 2012, and after finalization of the purchase accounting for the Business Combination, the Company identified events and changes in circumstance, such as correspondence from regulatory authorities and further clinical trial results related to the three product candidates acquired as part of the Business Combination, and classified as IPR&D, which indicated that the assets may be impaired. As such, the Company performed an analysis to measure the amount of the impairment loss, if any. The Company performed the valuation of its IPR&D from the viewpoint of a market participant through the use of a discounted cash flow model. The model contained certain key assumptions, including the cost to bring the pre-clinical products through the clinical trial and regulatory approval process, the gross margin a market participant would expect to earn if the products were approved for sale, the cost to sell the approved product and a discount factor based on an industry average weighted average cost of capital. Based on the analysis performed, the Company determined that the IPR&D was impaired and recorded an impairment charge of $45.8 million within "Impairment of long-lived assets" in the accompanying statement of operations and comprehensive income (loss).

The Company recorded $41.9 million and $25.4 million of amortization expense related to its finite-lived intangible assets during the years ended March 31, 2013 and 2012, respectively. Based on the Company's most recent analysis, amortization of intangible assets included within its consolidated balance sheet at March 31, 2013, is expected to be approximately $50.0 million, $60.0 million, $65.0 million, $70.0 million and $70.0 million in the fiscal years ending March 31, 2014 through 2018, respectively. Although the Company believes such available information and assumptions are reasonable, given the inherent risks and uncertainties underlying its expectations regarding such future revenues, there is the potential for the Company's actual results to vary significantly from such expectations. If revenues are projected to change, the related amortization of the intangible asset will change in proportion to the change in revenues.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

12 Months Ended

Mar. 31, 2013

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses consist of the following:

	March 31,

(In thousands)	2013		2012
Accounts payable	$	18,282	$	18,400
Accrued compensation		30,432		25,023
Accrued interest		970		2,472
Accrued other		27,226		33,259

Total accounts payable and accrued expenses	$	76,910	$	79,154

RESTRUCTURING

12 Months Ended

Mar. 31, 2013

RESTRUCTURING

RESTRUCTURING

10. RESTRUCTURING

On April 4, 2013, the Company, approved a restructuring plan related to its Athlone, Ireland manufacturing facility consistent with the evolution of the Company's product portfolio and designed to improve operational performance for the future.

Under the restructuring plan, the Company will terminate manufacturing services for certain older products becoming uneconomic to produce due to decreasing demand from its customers resulting from generic competition. The Company expects to continue to generate revenues from the manufacturing of these products during fiscal year 2014 and, for certain of these products, into fiscal year 2015.

As a result of the termination of these services, it is contemplated that the Company will also implement a corresponding reduction in headcount of up to 130 employees. In connection with the Plan, the Company recorded restructuring charges consisting of the following within "Restructuring" in the accompanying consolidated statements of operations and comprehensive income (loss), (in thousands):


Severance	$	12,100
Outplacement services		200

Total	$	12,300

This Plan is expected to result in estimated annual cost savings of between $15.0 million to $20.0 million by fiscal year 2016 and beyond. The total amount of the restructuring charges is accrued at March 31, 2013. As part of the Plan, the Company also expects to incur non-cash charges resulting from the accelerated depreciation of certain manufacturing assets, which are currently estimated to be approximately $10.0 million in fiscal year 2014 and $7.0 million in fiscal year 2015.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References + Details

LONG-TERM DEBT

12 Months Ended

Mar. 31, 2013

LONG-TERM DEBT

LONG-TERM DEBT

11. LONG-TERM DEBT

Long-term debt consists of the following:

(In thousands)	March 31, 2013			March 31, 2012

Term Loan B-1, due September 25, 2019	$	296,029		$	—
Term Loan B-2, due September 25, 2016		72,979			—
First Lien Term Loan, due September 16, 2017		—			306,822
Second Lien Term Loan, due September 16, 2018		—			137,638

Total		369,008			444,460
Less: current portion		(6,750	)		(3,100	)

Long-term debt	$	362,258		$	441,360

Term Loans

In September 2012, the Company entered into an amendment (the "Refinancing") to the first lien term loan facility (the "First Lien Term Loan") pursuant to which the First Lien Term Loan was amended and restated to, among other things, provide for a new tranche of term loans in an amount equal to $375.0 million, the proceeds of which, together with cash-on hand of approximately $75.0 million, were used to repay in full all monies due pursuant to the second lien term loan facility (the "Second Lien Term Loan" and together with the First Lien Term Loan, the "2012 Term Loans"). The new term loan facility includes the 2013 Term Loans and each of the 2013 Term Loans included a LIBOR floor of 1.0%.

In February 2013, the Company further amended the 2013 Term Loans (the "Repricing") to secure: (i) a reduction in interest payable under Term Loan B-1 to LIBOR plus 2.75% and a decrease in the LIBOR floor to 0.75%; (ii) a reduction in interest payable under Term Loan B-2 to LIBOR plus 2.75% and a decrease in the LIBOR floor to 0%; and (iii) a shortened time period, from one year to six months, during which a refinancing of the 2013 Term Loans, as described in the amended and restated credit agreement, would trigger a 1% prepayment premium.

Term Loan B-1 was issued with a principal balance of $300.0 million, an original issue discount of $3.0 million and amortizes in equal quarterly amounts of 0.25% of the original principal amount of the loan, with the balance payable at maturity, which is September 25, 2019. Term Loan B-2 was issued with a principal balance of $75.0 million, an original issue discount of $0.4 million and amortizes in equal quarterly amounts of 1.25% of the original principal amount of the loan, with the balance payable at maturity, which is September 25, 2016. The 2013 Term Loans are guaranteed by certain subsidiaries of the Company (the "Guarantors") and is secured by a first priority lien on substantially all of the assets and properties of the Company and the Guarantors (subject to certain exceptions and limitations).

Scheduled maturities with respect to the 2013 Term Loans are as follows (in thousands):


Fiscal Year:
2014	$	6,750
2015		6,750
2016		6,750
2017		64,875
2018		3,000
Thereafter		283,500

Total	$	371,625

Required quarterly principal payments of $0.8 million on Term Loan B-1 and $0.9 million on Term Loan B-2 began on December 31, 2012. Commencing with the completion of the Company's fiscal year ended March 31, 2014, the Company is subject to mandatory prepayments of principal if certain excess cash flow thresholds, as defined in the 2013 Term Loans, are met. The Company may make prepayments of principal without premium or penalty, however, in the event that, prior to September 25, 2013, the Company prepays any of Term Loan B-1 or Term Loan B-2 pursuant to a repricing transaction or an amendment of the Term Loan Facility that results in a repricing transaction, the Company will be subject to a prepayment premium of 1% of the amount of the term loan being repaid or the aggregate amount of the applicable term loan outstanding immediately prior to such amendment.

The 2013 Term Loans have an incremental facility capacity in an amount of $140.0 million, plus additional amounts as long as the Company meets certain conditions, including a specified leverage ratio. The 2013 Term Loans include a number of restrictive covenants that, among other things and subject to certain exceptions and baskets, impose operating and financial restrictions on the Company and certain of its subsidiaries. The 2013 Term Loans also contain customary affirmative covenants and events of default. The Company was in compliance with its debt covenants at March 31, 2013.

The Refinancing was a restructuring of the 2012 Term Loans and involved multiple lenders who were considered members of a loan syndicate. In determining whether the Refinancing was to be accounted for as a debt extinguishment or modification, the Company considered whether creditors remained the same or changed and whether the change in debt terms was substantial. The terms of the 2013 Term Loans were considered substantially different from the 2012 Term Loans if the present value of the cash flows under the 2013 Term Loans was at least 10% different from the present value of the remaining cash flows under the 2012 Term Loans (commonly referred to as the "10% Test"). The Company performed a separate 10% Test for each individual creditor participating in the loan syndication. The loans of creditors who did not participate in the 2013 Term Loans were accounted for as a debt extinguishment.

The Repricing was a restructuring of the 2013 Term Loans and involved multiple lenders who were considered members of a loan syndicate. The Company performed a similar analysis to the analysis described above to determine if the Repricing was to be accounted for as a debt extinguishment or modification. In addition, since the Debt Repricing occurred within twelve months of the Refinancing, for any lenders who participated in the Refinancing, the Company performed the 10% test using the present value of the remaining cash flows under the 2013 Term Loans.

As the 2012 and 2013 Term Loans have a prepayment option exercisable at any time, the Company assumed the prepayment option was exercised immediately on the date of the refinancing for purposes of applying the 10% Test. When there was a change in principal balance for individual creditors in the Refinancing and/or the Repricing, in applying the 10% Test, the Company used the cash flows related to the lowest common principal balance (commonly referred to as the "Net Method"). Under the Net Method, any principal in excess of a creditor's rollover money was treated as a new, separate debt issuance, and any decrease in principal was treated as a partial extinguishment of debt.

New costs paid to creditors and third parties in connection with the Refinancing and/or Repricing were allocated to the 2013 Term Loans and then further allocated to each creditor. Once these costs were allocated to the individual creditors, an analysis of each creditor was performed and a determination made as to whether the refinancing was accounted for as a debt extinguishment or modification under the 10% Test. For debt considered to be extinguished, the unamortized deferred financing costs and unamortized original issue discount associated with the extinguished debt were expensed. For debt considered to be modified, the unamortized deferred financing costs and unamortized original issue discount associated with the modified debt continue to be amortized, new financing costs were expensed and new third-party fees were capitalized. For new creditors in the Refinancing and/or Repricing, new financing costs and original issue discount fees were capitalized and will be amortized over the estimated repayment period of the new debt.

The Refinancing and Repricing resulted in a $12.1 million and $7.5 million charge, respectively, in the year ended March 31, 2013, which was included in "Interest expense" in the accompanying consolidated statement of operations and comprehensive income (loss) and was comprised of the following:

(In thousands)	September 2012 Refinancing		February 2013 Repricing		Total

Extinguished debt:
Unamortized deferred financing costs	$	4,600	$	1,566	$	6,166
Unamortized original issue discount		2,657		1,435		4,094
Modified debt:
Debt financing costs		1,967		807		2,772
Original issue discount		105		—		105
Prepayment penalty		2,800		3,733		6,533

Total	$	12,129	$	7,541	$	19,670

At March 31, 2013, the Company's balance of unamortized deferred financing costs and unamortized original issue discount costs were $3.3 million and $2.6 million, respectively. These costs are being amortized to interest expense over the estimated repayment period of the 2013 Term Loans using the effective interest method. During the years ended March 31, 2013 and 2012, the Company had amortization expense of $5.8 million and $3.5 million, respectively, related to deferred financing costs and original issue discount.

DERIVATIVE INSTRUMENTS

12 Months Ended

Mar. 31, 2013

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS

12. DERIVATIVE INSTRUMENTS

In December 2011, the Company entered into an interest rate cap agreement with Morgan Stanley Capital Services LLC ("MSCS") at a cost of $0.1 million to mitigate the impact of fluctuations in the three-month LIBOR rate at which the Company's long-term debt bears interest. The interest rate cap agreement expires in December 2013, has a notional value of $160.0 million and is not designated as a hedging instrument. The Company recorded an immaterial amount of loss as "Other income (expense), net" in the accompanying consolidated statements of operations and comprehensive income (loss) due to the decline in value of this contract during the years ended March 31, 2013 and 2012. At March 31, 2013, this contract has an immaterial balance included within "Other assets" in the accompanying consolidated balance sheets.

In September 2011, the Company entered into an interest rate cap agreement with HSBC Bank USA at a cost of less than $0.1 million to mitigate the impact of fluctuations in the three-month LIBOR rate at which the Company's long-term debt bear interest. The interest rate cap agreement became effective on September 16, 2011 and expired in December 2012. The interest rate cap agreement had a notional value of $65.0 million and was not designated as a hedging instrument. The Company recorded an immaterial amount of loss within "Other income (expense), net" in the consolidated statements of operations and comprehensive income (loss) due to the decline in value of this contract during the years ended March 31, 2013 and 2012.

In September 2011, the Company entered into an interest rate swap agreement with MSCS to mitigate the impact of fluctuations in the three-month LIBOR rate at which the Company's long-term debt bears interest. The interest rate swap agreement became effective in December 2012, expires in December 2014 and has a notional value of $65.0 million. This contract was initially designated as a cash flow hedge, however, in connection with the Refinancing, the cash flow hedge was deemed to no longer be effective for accounting purposes and, accordingly, the Company reclassified its unrealized losses of $0.6 million to "Interest expense" in the accompanying consolidated statement of operations and comprehensive income (loss). The following table summarizes the beginning and ending accumulated derivative loss for the interest rate swap (in thousands):


Unrealized losses included in accumulated other comprehensive income at March 31, 2012	$	(522	)
Unrealized losses incurred during the year ended March 31, 2013		(72	)
Reclassification of unrealized losses to realized losses during the year ended March 31, 2013		594

Unrealized losses included in accumulated other comprehensive income at March 31, 2013	$	—

The following table summarizes the fair value and presentation in the consolidated balance sheets for the Company's hedging instruments (in thousands):

		Fair Value

(In thousands)	Balance Sheet Location	March 31, 2013			March 31, 2012
Interest rate swap
Liability derivative not designated as a cash flow hedge	Other long-term liabilities	$	(541	)		—
Liability derivative designated as a cash flow hedge	Other long-term liabilities	$	—			(522	)

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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+ Details

EARNINGS (LOSS) PER SHARE

12 Months Ended

Mar. 31, 2013

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

13. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per ordinary share is calculated based upon net income (loss) available to holders of ordinary shares divided by the weighted average number of shares outstanding. For the calculation of diluted earnings (loss) per ordinary share, the Company uses the weighted average number of ordinary shares outstanding, as adjusted for the effect of potential outstanding shares, including stock options and restricted stock units.

	Year Ended March 31,

(In thousands)	2013		2012			2011
Numerator:
Net income (loss)	$	24,983	$	(113,678	)	$	(45,540	)

Denominator:
Weighted average number of ordinary shares outstanding		131,713		114,702			95,610
Effect of dilutive securities:
Stock options		4,025		—			—
Restricted stock units		1,362		—			—

Dilutive ordinary share equivalents		5,387		—			—

Shares used in calculating diluted earnings (loss) per share		137,100		114,702			95,610

The following potential ordinary equivalent shares have not been included in the net income (loss) per ordinary share calculations because the effect would have been anti-dilutive.

	Year Ended March 31,

(In thousands)	2013		2012		2011
Stock options		4,497		8,299		13,357
Restricted stock units		—		1,205		936

Total		4,497		9,504		14,293

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Mar. 31, 2013
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	14. SHAREHOLDERS' EQUITY *Share Repurchase Programs* On September 16, 2011, the board of directors authorized the continuation of the Alkermes, Inc. share repurchase program to repurchase up to $215.0 million of the Company's ordinary shares at the discretion of management from time to time in the open market or through privately negotiated transactions. At March 31, 2013, approximately $101.0 million was available to repurchase ordinary shares pursuant to the repurchase program. All shares repurchased are recorded as treasury stock. The repurchase program has no set expiration date and may be suspended or discontinued at any time. During the years ended March 31, 2013 and 2012, the Company did not acquire any shares of outstanding ordinary shares under the repurchase program.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 23: http://www.xbrl.org/2003/role/presentationRef
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+ Details

SHARE-BASED COMPENSATION

12 Months Ended

Mar. 31, 2013

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

15. SHARE-BASED COMPENSATION

Share-based Compensation Expense

The following table presents share-based compensation expense included in the Company's consolidated statements of operations and comprehensive income (loss):

	Year Ended March 31,

(In thousands)	2013		2012		2011
Cost of goods manufactured and sold	$	4,375	$	2,962	$	1,725
Research and development		9,078		8,784		6,218
Selling, general and administrative		21,263		17,080		11,889

Total share-based compensation expense	$	34,716	$	28,826	$	19,832

At March 31, 2013, 2012 and 2011, $0.6 million, $0.4 million and $0.6 million, respectively, of share-based compensation expense was capitalized and recorded as "Inventory" in the consolidated balance sheets.

Share-based Compensation Plans

The Company has two compensation plans pursuant to which awards are currently being made; (i) the 2011 Stock Option and Incentive Plan (the "2011 Plan"); (ii) and the 2008 Plan. The Company has five share-based compensation plans pursuant to which outstanding awards have been made, but from which no further awards can or will be made: (i) the 1996 Stock Option Plan for Non-Employee Directors (the "1996 Plan"); (ii) the 1998 Equity Incentive Plan (the "1998 Plan"); (iii) the 1999 Stock Option Plan (the "1999 Plan"); (iv) the 2002 Restricted Stock Award Plan (the "2002 Plan"); and (v) the 2006 Stock Option Plan for Non-Employee Directors (the "2006 Plan"). The 2011 Plan and the 2008 Plan provides for issuance of non-qualified and incentive stock options, restricted stock, restricted stock units, cash-based awards and performance shares to employees, officers and directors of, and consultants to, the Company in such amounts and with such terms and conditions as may be determined by the compensation committee of the Company's board of directors, subject to provisions of the 2011 Plan and the 2008 Plan.

At March 31, 2013, there were 9.8 million shares of ordinary shares available for issuance under the Company's stock plans. The 2011 Plan provides that awards other than stock options will be counted against the total number of shares available under the plan in a 1.8-to-1 ratio and the 2008 Plan provides that awards other than stock options will be counted against the total number of shares available under the plan in a 2-to-1 ratio.

Stock Options

A summary of stock option activity is presented in the following table:

			Weighted Average Exercise Price

Outstanding, April 1, 2012	17,359,760		$	13.68
Granted	2,535,500		$	16.84
Exercised	(3,052,642	)	$	11.26
Forfeited	(334,063	)	$	14.98
Expired	(57,451	)	$	20.12

Outstanding, March 31, 2013	16,451,104		$	14.57

Exercisable, March 31, 2013	10,321,840		$	14.13

The weighted average grant date fair value of stock options granted during the years ended March 31, 2013, 2012 and 2011 was $8.11, $8.00 and $5.92, respectively. The aggregate intrinsic value of stock options exercised during the years ended March 31, 2013, 2012 and 2011 was $28.1 million, $11.1 million and $2.0 million, respectively.

At March 31, 2013, there were 6.0 million stock options expected to vest with a weighted average exercise price of $15.27 per share, a weighted average contractual remaining life of 8.3 years and an aggregate intrinsic value of $50.5 million. At March 31, 2013, the aggregate intrinsic value of stock options exercisable was $98.8 million with a weighted average remaining contractual term of 4.4 years. The number of stock options expected to vest is determined by applying the pre-vesting forfeiture rate to the total outstanding options. The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the stock option.

At March 31, 2013, there was $20.3 million of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of approximately 1.9 years. Cash received from option exercises under the Company's award plans during the years ended March 31, 2013 and 2012 was $34.4 million and $20.9 million, respectively. The Company issued new shares upon option exercises during the years ended March 31, 2013 and 2012.

Time-Vested Restricted Stock Units

A summary of time-vested RSU activity is presented in the following table:

			Weighted Average Grant Date Fair Value

Unvested, April 1, 2012	2,114,176		$	13.45
Granted	1,032,530		$	16.55
Vested	(799,935	)	$	12.41
Forfeited	(120,000	)	$	15.70

Unvested, March 31, 2013	2,226,771		$	15.14

The weighted average grant date fair value of time-vested RSUs granted during the years ended March 31, 2013, 2012 and 2011 was $16.55, $17.91 and $11.74, respectively. The total fair value of time-vested RSUs that vested during the years ended March 31, 2013, 2012 and 2011 was $9.9 million, $6.1 million and $4.0 million, respectively.

At March 31, 2013, there was $14.0 million of total unrecognized compensation cost related to unvested time-vested RSUs, which will be recognized over a weighted average remaining contractual term of 1.9 years.

Performance-Based Restricted Stock Units

In May 2009, the board of directors awarded 45,000 RSUs to certain of the Company's executive officers under the 2006 Plan that vested upon the approval of BYDUREON by the U.S. Food and Drug Administration ("FDA"), provided the approval by the FDA occurred at least one year after the date of grant. During the year ended March 31, 2010, 20,000 RSUs were forfeited upon the resignation of an executive officer. The grant date fair value of the award was $8.55 per share, which was the market value of the Company's stock on the date of grant. During the year ended March 31, 2012, the performance condition was met and the award vested.

In May 2008, the board of directors awarded 40,000 RSUs to certain of the Company's executive officers under the 2002 Plan that vest upon the achievement of a market condition specified in the award terms. During the year ended March 31, 2010, 10,000 RSUs were forfeited upon the resignation of an executive officer. The grant date fair value of $9.48 per share was determined through the use of a Monte Carlo simulation model. The compensation cost for the award's grant date fair value of $0.4 million was recognized over a derived service period of 1.4 years. During the year ended March 31, 2012, the market condition was met and the awards vested.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
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+ Details

COLLABORATIVE ARRANGEMENTS	12 Months Ended
COLLABORATIVE ARRANGEMENTS	Mar. 31, 2013
COLLABORATIVE ARRANGEMENTS
COLLABORATIVE ARRANGEMENTS	16. COLLABORATIVE ARRANGEMENTS The Company's business strategy includes forming collaborations to develop and commercialize its products, and to access technological, financial, marketing, manufacturing and other resources. The Company's significant collaborative arrangements are described below: *Janssen* RISPERDAL CONSTA Under a product development agreement, the Company collaborated with Janssen on the development of RISPERDAL CONSTA. Under the development agreement, Janssen provided funding to the Company for the development of RISPERDAL CONSTA, and Janssen is responsible for securing all necessary regulatory approvals for the product. Under license agreements, the Company granted Janssen and an affiliate of Janssen exclusive worldwide licenses to use and sell RISPERDAL CONSTA. Under its license agreements with Janssen, the Company receives royalty payments equal to 2.5% of Janssen's net sales of RISPERDAL CONSTA in each country where the license is in effect based on the quarter when the product is sold by Janssen. This royalty may be reduced in any country based on lack of patent coverage and significant competition from generic versions of the product. Janssen can terminate the license agreements upon 30 days' prior written notice to the Company. The licenses granted to Janssen expire on a country-by-country basis upon the later of (i) the expiration of the last patent claiming the product in such country or (ii) fifteen years after the date of the first commercial sale of the product in such country, provided that in no event will the license granted to Janssen expire later than the twentieth anniversary of the first commercial sale of the product in such country, with the exception of certain countries where the fifteen-year limitation shall pertain regardless. After expiration, Janssen retains a non-exclusive, royalty-free license to manufacture, use and sell RISPERDAL CONSTA. The Company exclusively manufactures RISPERDAL CONSTA for commercial sale. Under its manufacturing and supply agreement with Janssen, the Company records manufacturing revenues when product is shipped to Janssen, based on 7.5% of Janssen's net unit sales price for RISPERDAL CONSTA for the calendar year. The manufacturing and supply agreement terminates on expiration of the license agreements. In addition, either party may terminate the manufacturing and supply agreement upon a material breach by the other party, which is not resolved within 60 days after receipt of a written notice specifying the material breach or upon written notice in the event of the other party's insolvency or bankruptcy. Janssen may terminate the agreement upon six months' written notice to the Company. In the event that Janssen terminates the manufacturing and supply agreement without terminating the license agreements, the royalty rate payable to the Company on Janssen's net sales of RISPERDAL CONSTA would increase from 2.5% to 5.0%. Under its agreements with Janssen, the Company recognized manufacturing revenues related to RISPERDAL CONSTA of $98.6 million, $129.8 million, and $116.2 million during the years ended March 31, 2013, 2012 and 2011, respectively. Under its agreements with Janssen, the Company recognized royalty revenues related to RISPERDAL CONSTA of $35.0 million, $38.5 million and $38.1 million during the years ended March 31, 2013, 2012 and 2011, respectively. INVEGA SUSTENNA/XEPLION Under its license agreement with Janssen Pharmaceutica N.V., the Company granted Janssen a worldwide exclusive license under its NanoCrystal technology to develop, commercialize and manufacture INVEGA SUSTENNA/XEPLION and related products. The Company receives certain development milestone payments from Janssen and tiered royalty payments between 5% and 9% of INVEGA SUSTENNA net sales in each country where the license is in effect, with the exact royalty percentage determined based on worldwide net sales. The royalty payments may be reduced in any country based on lack of patent coverage or patent litigation, or where competing products achieve certain minimum sales thresholds. The licenses granted to Janssen expire on a country-by-country basis upon the later of (i) March 31, 2019 or (ii) the expiration of the last of the patents claiming the product in such country. After expiration, Janssen retains a non-exclusive, royalty-free license to develop, manufacture and commercialize the product. Under its license agreement with Janssen, there are no further development milestones to be earned by the Company related to INVEGA SUSTENNA/XEPLION. Janssen may terminate the license agreement in whole or in part upon three months' notice to the Company. The Company and Janssen have the right to terminate the agreement upon the material breach of the other party, which is not cured within a certain time period or upon the other party's bankruptcy or insolvency. Under its agreements with Janssen, the Company recognized royalty revenues from the sale of INVEGA SUSTENNA/XEPLION of $63.5 million, $18.0 million and none during the years ended March 31, 2013, 2012 and 2011, respectively. *Acorda* Under an amended and restated license agreement, the Company granted Acorda an exclusive worldwide license to use and sell and, solely in accordance with its supply agreement, to make or have made AMPYRA/FAMPYRA. Under its license agreement with Acorda, the Company receives certain commercial and development milestone payments, license revenues and a royalty of approximately 10% based on sales of AMPYRA/FAMPYRA by Acorda or its sub-licensee, Biogen Idec. This royalty payment may be reduced in any country based on lack of patent coverage, competing products achieving certain minimum sales thresholds, and whether Alkermes manufactures the product. Acorda has the right to terminate the license agreement upon 90 days' written notice. The Company has the right to terminate the license agreement for countries in which Acorda fails to launch a product within a specified time after obtaining the necessary regulatory approval or fails to file regulatory approvals within a commercially reasonable time after completion and receipt of positive data from all preclinical and clinical studies required for filing a marketing authorization application. If the Company terminates Acorda's license in any country, the Company is entitled to a license from Acorda of its patent rights and know-how relating to the product as well as the related data, information and regulatory files, and to market the product in the applicable country, subject to an initial payment equal to Acorda's cost of developing such data, information and regulatory files and to ongoing royalty payments to Acorda. Subject to the termination of the license agreement, licenses granted under the license agreement terminate on a country-by-country basis on the later of (i) September 2018 or (ii) the expiration of the last to expire of our patents or the existence of a threshold level of competition in the marketplace. Under its commercial manufacturing supply agreement with Acorda, the Company manufactures and supplies AMPYRA/FAMPYRA for Acorda (and its sub-licensees). Under the terms of the agreement, Acorda may obtain up to 25% of its total annual requirements of product from a second-source manufacturer. The Company receives royalties equal to 8% of net selling price for all product manufactured by it and a compensating payment for product manufactured and supplied by a third party. The Company may terminate the supply agreement upon 12 months' prior written notice to Acorda and either party may terminate the supply agreement following a material and uncured breach of the supply or license agreement or the entry into bankruptcy or dissolution proceedings of the other party. In addition, subject to early termination of the supply agreement noted above, the supply agreement terminates upon the expiry or termination of the license agreement. The Company is entitled to receive the following milestone payments under its amended and restated license agreement with Acorda for each of the third and fourth new indications of the product developed thereunder: • Upon the initiation of a phase 3 clinical trial: $1.0 million; • Upon the acceptance of an NDA by the FDA: $1.0 million; • Upon the approval of the NDA by the FDA: $1.5 million; and • Upon the first commercial sale: $1.5 million. In January 2011, the Company entered into a development and supplemental agreement to its amended and restated license agreement and supply agreement with Acorda. Under the terms of this agreement, the Company granted Acorda the right, either with the Company or with a third party, in each case in accordance with certain terms and conditions, to develop new formulations of dalfampridine or other aminopyridines. Under the terms of the agreement, Acorda has the right to select either a formulation developed by the Company or by a third party for commercialization. The Company is entitled to development fees it incurs in developing formulations under the development and supplemental agreement and, if Acorda selects and commercializes any such formulation, to milestone payments (for new indications if not previously paid), license revenues and royalties in accordance with its amended and restated license agreement for the product, and either manufacturing fees as a percentage of net selling price for product manufactured by the Company or compensating fees for product manufactured by third parties. If, under the development and supplemental agreement, Acorda selects a formulation not developed by the Company, then the Company will be entitled to various compensation payments and has the first option to manufacture such third-party formulation. The development and supplemental agreement expires upon the expiry or termination of the amended and restated license agreement and may be earlier terminated by either party following an uncured breach of the agreement by the other party. Acorda's financial obligations under this development and supplemental agreement continue for a minimum of ten years from the first commercial sale of such new formulation, and may extend for a longer period of time, depending on the intellectual property rights protecting the formulation, regulatory exclusivity and/or the absence of significant market competition. These financial obligations survive termination. During the years ended March 31, 2013, 2012 and 2011, the Company recognized $65.0 million, $25.8 million and none respectively, of revenue from its arrangements with Acorda. *Bristol-Myers* In May 2000, the Company entered into a development and license agreement with Amylin, now a wholly-owned subsidiary of Bristol-Myers, for the development of exendin products falling within the scope of its patents, which includes the once-weekly formulation of exenatide, BYDUREON. Pursuant to the development and license agreement, Bristol-Myers has an exclusive, worldwide license to the Company's polymer-based microsphere technology for the development and commercialization of injectable extended-release formulations of exendins and other related compounds. The Company receives funding for research and development and will also receive royalty payments based on future product sales. The Company received milestone payments upon the achievement of certain development and commercialization goals, and there are no further milestones to be earned under the agreements. In October 2005 and in July 2006, the Company amended the development and license agreement. Under the amended agreement, the Company is responsible for formulation and is principally responsible for non-clinical development of any products that may be developed pursuant to the agreement and for manufacturing these products for use in early-phase clinical trials. Bristol-Myers is responsible for commercializing exenatide products, including BYDUREON, in the U.S. and for U.S. regulatory matters relating to BYDUREON. Lilly, Bristol-Myers' former worldwide collaboration partner with respect to exenatide products, continues to have exclusive rights to commercialize exenatide products outside of the U.S. until December 31, 2013 or such earlier date as agreed by the parties pursuant to the terms of their transition agreement, following which Bristol-Myers will have such exclusive rights. Subject to these arrangements with Lilly, Bristol-Myers is responsible for conducting clinical trials, securing regulatory approvals and marketing any products resulting from the collaboration on a worldwide basis. In conjunction with the 2005 amendment of the development and license agreement with Bristol-Myers, the Company reached an agreement regarding Bristol-Myers' construction of a manufacturing facility for BYDUREON and certain technology transfer related thereto. The facility and technology transfer of the Company's manufacturing processes was completed in 2009. Bristol-Myers is responsible for the manufacture of BYDUREON and operates the facility. Until December 31 of the tenth full calendar year following the year in which the first commercial sale of BYDUREON occurs, the Company will receive royalties equal to 8% of net sales from the first 40 million units of BYDUREON sold in any particular year and 5.5% of net sales from units sold beyond the first 40 million units for that year. Thereafter, during the term of the development and license agreement, the Company will receive royalties equal to 5.5% of net sales of products sold. The Company received milestone payments upon the achievement of certain development and commercialization goals, and there are no further milestones to be earned under the agreements. The development and license agreement terminates on the later of (i) 10 years from the first commercial sale of the last of the products covered by the development and license agreement, or (ii) the expiration or invalidation of all of its patents covering such product. Upon termination, all licenses become non-exclusive and royalty-free. Bristol-Myers may terminate the development and license agreement for any reason upon 180 days' written notice to the Company. In addition, either party may terminate the development and license agreement upon a material default or breach by the other party that is not cured within 60 days after receipt of written notice specifying the default or breach. During the years ended March 31, 2013, 2012 and 2011, the Company recognized $23.8 million, $18.8 million and $2.9 million, respectively, of revenue from its arrangements with Bristol-Myers.

INCOME TAXES

12 Months Ended

Mar. 31, 2013

INCOME TAXES

INCOME TAXES

17. INCOME TAXES

The Company's provision (benefit) for income taxes is comprised of the following:

	Year Ended March 31,

(In thousands)	2013			2012			2011
Current income tax provision (benefit):
U.S. federal	$	8,152		$	7,321		$	(756	)
U.S. state		2,588			6,649			30
Rest of world		1,758			28			—
Deferred income tax (benefit) provision:
Ireland		(1,961	)		(4,551	)		—
U.S. federal		—			(10,024	)		(206	)
U.S. state		(79	)		(137	)		(19	)

Total tax provision (benefit)	$	10,458		$	(714	)	$	(951	)

The current income tax provision for the year ended March 31, 2013 is primarily due to income earned by the Company during the fiscal year. An $8.9 million benefit has been recorded to additional paid-in capital due to the utilization of NOL carryforwards that were created from the exercise of employee stock options. The current income tax provision for the year ended March 31, 2012 is primarily due to a provision of $13.1 million on the taxable transfer of the BYDUREON intellectual property from the U.S. to Ireland, partially offset by a $4.3 million benefit recorded to additional paid-in capital related to the utilization of certain NOL carryforwards resulting from the exercise of employee stock options. The current income tax benefit for the year ended March 31, 2011 is primarily related to a tax benefit for bonus depreciation pursuant to the Small Business Jobs Act of 2010.

The deferred income tax benefit for the year ended March 31, 2013 is primarily due to the reversals of deferred tax liabilities for intangible assets for which the book basis exceeds the tax basis. These intangible assets are being amortized for book purposes over the life of the intangible assets. The deferred income tax benefit in Ireland for the year ended March 31, 2012 is primarily due to a benefit from the partial release of the Irish deferred tax liability relating to acquired intellectual property that was established in connection with the Business Combination. The Company also recorded a benefit of $9.9 million due to the partial release of an existing U.S. federal valuation allowance as a consequence of the Business Combination. The deferred income tax benefits for the year ended March 31, 2011 is primarily due to the recognition of $0.2 million of income tax expense associated with the increase in the value of certain securities that it carried at fair market value.

No provision for income tax has been provided on undistributed earnings of the Company's foreign subsidiaries because the Company considers such earnings to be indefinitely reinvested. Cumulative unremitted earnings of overseas subsidiaries totaled approximately $39.0 million at March 31, 2013. In the event of distribution of those earnings in the form of dividends or otherwise, the Company would be subject to income taxes, subject to an adjustment, if any, for foreign tax credits, and foreign withholding taxes payable to certain foreign tax authorities. Determination of the amount of income tax liability that would be incurred is not practicable because of the complexities associated with this hypothetical calculation, however, unrecognized foreign tax credit carryforwards may be available to reduce some portion of the tax liability, if any.

The distribution of the Company's income (loss) before the provision for income taxes by geographical area consisted of the following:

	Year Ended March 31,

(In thousands)	2013			2012			2011
Ireland	$	(14,722	)	$	(36,711	)	$	—
U.S.		23,503			(84,858	)		(46,491	)
Rest of world		26,660			7,177			—

Income (loss) before provision for income taxes	$	35,441		$	(114,392	)	$	(46,491	)

The components of the Company's net deferred tax liabilities are as follows:

	March 31,

(In thousands)	2013			2012
Deferred tax assets:
Irish NOL carryforwards	$	55,842		$	55,176
Tax benefit from the exercise of stock options		8,437			22,089
Share-based compensation		23,468			21,992
Tax credit carryforwards		10,543			12,294
U.S. federal and state NOL carryforwards		496			1,516
Alkermes Europe, Ltd. NOL carryforward		—			4,675
Deferred revenue		1,682			1,778
Intangible assets		277			748
Property, plant and equipment		653			—
Bonus accrual		7,034			5,849
Other		9,150			9,774
Less: valuation allowance		(86,714	)		(107,128	)

Total deferred tax assets		30,868			28,763

Deferred tax liabilities:
Intangible assets		(40,968	)		(43,606	)
Property, plant and equipment		(19,607	)		(19,049	)
Other		(2,072	)		—

Total deferred tax liabilities		(62,647	)		(62,655	)

Net deferred tax liabilities	$	(31,779	)	$	(33,892	)

The following table presents the breakdown between current and non-current deferred tax assets (liabilities):

	Year Ended March 31,

(In thousands)	2013			2012
Current deferred tax assets	$	5,824		$	656
Current deferred tax liabilities		—			(36	)
Non-current deferred tax liabilities		(37,603	)		(34,512	)

Net deferred tax liabilities	$	(31,779	)	$	(33,892	)

In 2013, the Company identified an error in the prior year related to the separate identification and classification of accrued bonus in the net deferred tax disclosure of $5.8 million. The impact of the accrued bonus was previously disclosed within the U.S. federal and state NOL carryforward line item in the prior year footnote. The Company believes that the accrued bonus deferred tax asset should have been disclosed as a separate line item within the footnote. There was no impact to the provision for income taxes for any period presented. The error had no effect on the Company's consolidated statements of operations and comprehensive income (loss), changes in shareholders' equity or cash flows for any period presented. The prior period amounts presented in the tax footnote herein have been revised to correct for this immaterial misstatement.

As of March 31, 2013, the Company had $438.2 million of Irish NOL carryforwards, $70.4 million of U.S. federal NOL carryforwards and $8.7 million of state NOL carryforwards, which either expire on various dates through 2032 or can be carried forward indefinitely. These loss carryforwards are available to reduce certain future Irish and foreign taxable income, if any. These loss carryforwards are subject to review and possible adjustment by the appropriate taxing authorities. These loss carryforwards, which may be utilized in any future period, may be subject to limitations based upon changes in the ownership of the company's stock. The Company has performed a review of ownership changes in accordance with the U.S. Internal Revenue Code and the Company has determined that it is more likely than not that, as a result of the Business Combination, the Company has experienced a change of ownership. As a consequence, the Company's U.S. federal NOL carryforwards and tax credit carryforwards are subject to an annual limitation of $127.0 million.

The Company records a deferred tax asset or liability based on the difference between the financial statement and tax basis of assets and liabilities, as measured by enacted tax rates assumed to be in effect when these differences reverse. In evaluating the Company's ability to recover its deferred tax assets, the Company considers all available positive and negative evidence including its past operating results, the existence of cumulative income in the most recent fiscal years, changes in the business in which the Company operates and its forecast of future taxable income. In determining future taxable income, the Company is responsible for assumptions utilized including the amount of Irish, U.S. and other foreign pre-tax operating income, the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates that the Company is using to manage the underlying businesses. As of March 31, 2013, the Company determined, based on the weight of all available positive and negative evidence, that it is more likely than not that a significant portion of the deferred tax assets will not be realized and a valuation allowance has been recorded. However, if the Company demonstrates consistent profitability in the future, the evaluation of the recoverability of the deferred tax asset could change and the valuation allowance could be released in part or in whole. The $20.4 million decrease in the valuation allowance from the year ended March 31, 2012 to the year ended March 31, 2013 was primarily due to the utilization of NOLs. The Company has a $31.8 million net deferred tax liability as of March 31, 2013 which is primarily related to book over tax basis differences in acquired intellectual property.

The tax benefit from stock option exercises included in the table above represents benefits accumulated prior to the adoption of Accounting Standards Codification ("ASC") Topic 718 ("ASC 718") that have not been realized. Subsequent to the adoption of ASC 718 on April 1, 2006, an additional $34.5 million of tax benefits from stock option exercises, in the form of NOL carryforwards and tax credit carryforwards, have not been recognized in the financial statements and will be once they are realized. In total, the Company has approximately $42.9 million related to certain NOL carryforwards and tax credit carryforwards resulting from the exercise of employee stock options, the tax benefit of which, when recognized, will be accounted for as a credit to additional paid-in capital rather than a reduction of income tax expense.

As part of the Business Combination, Alkermes plc was incorporated and is headquartered in Dublin, Ireland. The statutory tax rate for trading income in Ireland is 12.5%. A reconciliation of the Company's statutory tax rate to its effective rate is as follows:

	Year Ended March 31,

	2013			2012			2011
Statutory rate		12.5	%		12.5	%		34.0	%
U.S. state income taxes, net of U.S. federal benefit		4.7	%		(6.8	)%		—	%
R&D credit		—	%		—	%		1.4	%
Share-based compensation		3.3	%		(0.7	)%		(2.6	)%
Non-refundable withholding tax		4.7	%		—	%		—	%
Permanent items		(8.2	)%		—	%		(0.6	)%
Change in valuation allowance		(28.0	)%		47.3	%		(30.1	)%
Rate differential		40.5	%		(51.7	)%		—	%

Effective tax rate		29.5	%		0.6	%		2.1	%

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

(In thousands)	Unrecognized Tax Benefits

Balance, April 1, 2010	$	3,373
Additions based on tax positions related to prior periods		1,560

Balance, March 31, 2011		4,933
Additions based on tax positions related to prior periods		1,741
Decreases due to lapse of statute of limitations		(68	)

Balance, March 31, 2012		6,606
Additions based on tax positions related to prior periods		1,065
Decreases due to settlements with tax authorities		(413	)

Balance, March 31, 2013	$	7,258

In 2013, the Company identified errors related to uncertain tax positions driven by timing differences that were not identified and disclosed in the tabular rollforward in the prior years. The net impact of the error was $1.5 million to the opening balance at April 1, 2010, $1.5 million during 2011, $3.0 million at March 31, 2011, $1.2 million during 2012 and $4.2 million at March 31, 2012. There was no impact to the net deferred tax assets or the provision for income taxes for any period presented. The error had no effect on the Company's consolidated balance sheets, statements of operations and comprehensive income (loss), changes in shareholders' equity or cash flows for any period presented. As a result, the Company believes the impact of this error is immaterial to previously issued financial statements. The prior period amounts presented in the tax footnote herein have been revised to correct for this immaterial misstatement.

$0.2 million of the unrecognized tax benefits at March 31, 2013, if recognized, would affect the Company's effective tax rate before taking its' valuation allowance into consideration. The Company expects a net reduction in its unrecognized tax benefits in the amount of $7.2 million due to the expected resolution of certain matters over the next twelve months. The Company has elected to include interest and penalties related to uncertain tax positions as a component of its provision for taxes. For the year ended March 31, 2013, the Company's accrued interest and penalties related to uncertain tax positions were not material.

Our major taxing jurisdictions include Ireland and the U.S. (federal and state). These jurisdictions have varying statutes of limitations. In the U.S., the 2007, 2008, and 2010 through 2013 fiscal years remain subject to examination by the respective tax authorities. In Ireland, fiscal years 2009 to 2013 remain subject to examination by the Irish tax authorities. Additionally, because of our Irish and U.S. loss carryforwards, certain tax returns from fiscal years 1993 onward may also be examined. These years generally remain open for three to four years after the loss carryforwards have been utilized. Fiscal years 2007, 2008 and 2010 for Alkermes, Inc., are currently under examination by the IRS. Fiscal year 2012 for Alkermes, Inc. is currently under examination by the state of Massachusetts. The Company does not believe there are any uncertain tax positions that have not been accounted for as a result of these examinations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Mar. 31, 2013

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

18. COMMITMENTS AND CONTINGENCIES

Lease Commitments

The Company leases certain of its offices, research laboratories and manufacturing facilities under operating leases with initial terms of one to twenty years, expiring through the year 2020. Certain of the leases contain provisions for extensions of up to ten years. These lease commitments are primarily related to the Company's corporate headquarters in Ireland and its corporate offices, R&D and manufacturing facilities in Massachusetts. As of March 31, 2013, the total future annual minimum lease payments under the Company's non-cancelable operating leases are as follows:

(In thousands)	Payment Amount

Fiscal Years:
2014	$	3,838
2015		4,068
2016		3,970
2017		3,473
2018		3,650
Thereafter		8,350

		27,349
Less: estimated sublease income		(1,956	)

Total future minimum lease payments	$	25,393

Rent expense related to operating leases charged to operations was $5.0 million, $4.2 million and $5.4 million for the years ended March 31, 2013, 2012 and 2011, respectively. These amounts are net of sublease income of $2.6 million, $9.2 million and $7.3 million earned in the years ended March 31, 2013, 2012 and 2011, respectively. In addition to its lease commitments, the Company has open purchase orders totaling $76.0 million at March 31, 2013.

Litigation

From time to time, the Company may be subject to other legal proceedings and claims in the ordinary course of business. For example, the Company is currently involved in various sets of Paragraph IV litigations in the U.S. and a similar suit in France in respect of certain of its products. The Company is not aware of any such proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on its business, results of operations, cash flows and financial condition.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Mar. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Principles of Consolidation

Use of Estimates

Use of Estimates

Cash and Cash Equivalents

Cash and Cash Equivalents

Investments

Investments

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Level 1—these valuations are based on a market approach using quoted prices in active markets for identical assets. Valuations of these products do not require a significant degree of judgment. Assets utilizing Level 1 inputs include investments in money market funds and U.S. treasury securities;

Level 2—these valuations are based on a market approach using quoted prices obtained from brokers or dealers for similar securities or for securities for which the Company has limited visibility into their trading volumes. Valuations of these financial instruments do not require a significant degree of judgment. Assets and liabilities utilizing Level 2 inputs include U.S. government agency debt securities, debt securities issued and backed by foreign governments, investments in corporate debt securities that are trading in the credit markets and an interest rate cap and swap contract;

Level 3—these valuations are based on an income approach using certain inputs that are unobservable and are significant to the overall fair value measurement. Valuations of these products require a significant degree of judgment. At March 31, 2013, the Company did not have any assets or liabilities utilizing Level 3 inputs.

Inventory

Inventory

Property, Plant and Equipment

Property, Plant and Equipment

Asset group		Term

Buildings and improvements		15 - 40 years
Furniture, fixtures and equipment		3 - 10 years
Leasehold improvements		Shorter of useful life or lease term

Business Acquisitions

Business Acquisitions

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Asset Retirement Obligations

Asset Retirement Obligations

The following table shows changes in the carrying amount of the Company's asset retirement obligation for the years ended March 31, 2013 and 2012:

(In thousands)	Carrying Amount

Balance, April 1, 2011	$	1,692
Accretion expense		170

Balance, March 31, 2012	$	1,862
Accretion expense		187

Balance, March 31, 2013	$	2,049

Revenue Recognition

Revenue Recognition

Collaborative Arrangements

Product Sales, Net

The Company records its product sales net of the following significant categories of sales discounts and allowances as a reduction of product sales at the time VIVITROL is shipped:

•

Medicaid Rebates—the Company records accruals for rebates to states under the Medicaid Drug Rebate Program as a reduction of sales when the product is shipped into the distribution channel. The Company rebates individual states for all eligible units purchased under the Medicaid program based on a rebate per unit calculation, which is based on its Average Manufacturer Price ("AMP"). The Company estimates expected unit sales and rebates per unit under the Medicaid program and adjusts its rebate estimates based on actual unit sales and rebates per unit.

•

Chargebacks—wholesaler and specialty pharmacy chargebacks are discounts that occur when contracted customers purchase directly from an intermediary wholesale purchaser. Contracted customers, which consist primarily of federal government agencies purchasing under the federal supply schedule, generally purchase the product at its contracted price, plus a mark-up from the wholesaler. The wholesaler, in-turn, charges back to the Company the difference between the price initially paid by the wholesaler and the contracted price paid to the wholesaler by the customer. The allowance for chargebacks is based on actual and expected utilization of these programs. Chargebacks could exceed historical experience and the Company's estimates of future participation in these programs. To date, actual chargebacks have not differed materially from the Company's estimates.

•

Product Returns—in August 2012, the Company changed the way in which revenue is recognized on VIVITROL product sales. Prior to August 1, 2012, the Company did not have sufficient history to reasonably estimate returns related to VIVITROL shipments and, therefore, the Company deferred the recognition of revenue on shipments of VIVITROL until the product left the distribution channel. In August 2012, it was determined there was sufficient history to reliably estimate returns, and revenue on the sales of VIVITROL is now recognized upon delivery to wholesalers, distributors and pharmacies, which is the point in time the customer assumes the risks and rewards of ownership. This change in the method of revenue recognition resulted in a one-time $1.7 million increase to "Product sales, net" in the accompanying consolidated statements of operations and comprehensive income (loss), which was recognized during the three months ended September 30, 2012.
- Based on this revised revenue recognition policy, a reserve is now estimated for future product returns on VIVITROL gross product sales. This estimate is based on historical return rates as well as specifically identified anticipated returns due to known business conditions and product expiry dates. Return amounts are recorded as a deduction to arrive at VIVITROL product sales, net. Once VIVITROL is returned, it is destroyed. At March 31, 2013, the product return reserve was estimated to be approximately 2% of product sales and amounts to $3.2 million.
•

Co-pay assistance—the Company has a program whereby a patient can receive up to $500 per month towards their co-payment, co-insurance or deductible, provided the patient meets certain eligibility criteria. Reserves are recorded upon the sale of VIVITROL.

Risk-Management Instruments

Risk-Management Instruments

Foreign Currency

Foreign Currency

Concentrations

Concentrations

	2013						2012						2011

Customer	Receivables			Revenue			Receivables			Revenue			Receivables			Revenue
Janssen		32	%		35	%		30	%		48	%		75	%		83	%
Acorda		15	%		11	%		11	%		—			—			—

Geographic Information

Geographic Information

Company revenues by geographic location, as determined by the location of the customer, and the location of its assets, are as follows:

	Year Ended March 31,

(In thousands)	2013		2012		2011
Revenue by region:
U.S.	$	380,565	$	212,859	$	76,700
Ireland		14,455		12,695		805
Rest of world		180,528		164,423		109,135
Assets by region:
Current assets:
U.S.	$	248,441	$	209,683	$	252,960
Ireland		159,544		122,077		—
Rest of world		603		7,393		—
Long-term assets:
U.S.	$	233,369	$	217,406	$	199,488
Ireland		828,334		878,658		—
Rest of world		—		—		—

Research and Development Expenses

Research and Development Expenses

Share-Based Compensation

Share-Based Compensation

Stock Options

The fair value of each stock option grant was estimated on the grant date with the following weighted-average assumptions:

	Year Ended March 31,

	2013	2012	2011
Expected option term	5 - 7 years	5 - 7 years	5 - 7 years
Expected stock volatility	47% - 49%	47% - 51%	46% - 51%
Risk-free interest rate	0.61% - 1.18%	0.82% - 2.5%	1.11% - 3.42%
Expected annual dividend yield	—	—	—

Time-Vested Restricted Stock Units

Income Taxes

Income Taxes

Comprehensive Income (Loss)

Comprehensive Income (Loss)

Earnings (Loss) per Share

Earnings (Loss) per Share

Segment Information

Segment Information

Employee Benefit Plans

Employee Benefit Plans

401(K) Plan

Defined Contribution Plan

Reclassifications

Reclassifications

New Accounting Pronouncements

New Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Mar. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of estimated useful life of property, plant and equipment

Asset group		Term

Buildings and improvements		15 - 40 years
Furniture, fixtures and equipment		3 - 10 years
Leasehold improvements		Shorter of useful life or lease term

Schedule of changes in the carrying amount of the company's asset retirement obligation

(In thousands)	Carrying Amount

Balance, April 1, 2011	$	1,692
Accretion expense		170

Balance, March 31, 2012	$	1,862
Accretion expense		187

Balance, March 31, 2013	$	2,049

Schedule of revenue and receivables from customers exceeding 10% of total in each category

	2013						2012						2011

Customer	Receivables			Revenue			Receivables			Revenue			Receivables			Revenue
Janssen		32	%		35	%		30	%		48	%		75	%		83	%
Acorda		15	%		11	%		11	%		—			—			—

Schedule of revenues by geographic location, as determined by the location of the customer, and the location of its long-term assets

	Year Ended March 31,

(In thousands)	2013		2012		2011
Revenue by region:
U.S.	$	380,565	$	212,859	$	76,700
Ireland		14,455		12,695		805
Rest of world		180,528		164,423		109,135
Assets by region:
Current assets:
U.S.	$	248,441	$	209,683	$	252,960
Ireland		159,544		122,077		—
Rest of world		603		7,393		—
Long-term assets:
U.S.	$	233,369	$	217,406	$	199,488
Ireland		828,334		878,658		—
Rest of world		—		—		—

Schedule of weighted-average assumptions

	Year Ended March 31,

	2013	2012	2011
Expected option term	5 - 7 years	5 - 7 years	5 - 7 years
Expected stock volatility	47% - 49%	47% - 51%	46% - 51%
Risk-free interest rate	0.61% - 1.18%	0.82% - 2.5%	1.11% - 3.42%
Expected annual dividend yield	—	—	—

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References + Details

ACQUISITIONS (Tables)

12 Months Ended

Mar. 31, 2013

ACQUISITIONS

Schedule of purchase price of the EDT business

The purchase price of the EDT business was as follows (in thousands):


Upfront payment in accordance with the merger agreement	$	500,000
Equity consideration in accordance with the merger agreement		525,074

Total purchase price	$	1,025,074

Purchase price allocation of assets acquired and liabilities assumed


Cash	$	5,225
Receivables		59,398
Inventory		29,669
Prepaid expenses and other current assets		1,806
Property plant and equipment		210,558
Acquired identifiable intangible assets		689,000
Goodwill		92,740
Other assets		4,360
Accounts payable and accrued expenses		(18,650	)
Deferred tax liabilities		(48,448	)
Other long-term liabilities		(584	)

Total	$	1,025,074

Summary of intangible assets acquired

The intangible assets acquired included the following (in thousands):


Collaboration agreements	$	499,700
NanoCrystal technology		74,600
OCR technology		66,300
In-process research and development		45,800
Trademark		2,600

Total	$	689,000

Schedule of unaudited pro forma information

	Year Ended March 31,

(In thousands, except per share data)	2012			2011
Revenues	$	500,105		$	450,222
Net (loss) income	$	(108,782	)	$	10,265
Basic and diluted (loss) earnings per common share	$	(0.84	)	$	0.08

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References + Details

INVESTMENTS (Tables)

12 Months Ended

Mar. 31, 2013

INVESTMENTS

Schedule of investments

			Gross Unrealized

					Losses
(In thousands)	Amortized Cost		Gains		Less than One Year			Greater than One Year			Estimated Fair Value
March 31, 2013
Short-term investments:
Available-for-sale securities:
U.S. government and agency debt securities	$	102,093	$	29	$	(1	)	$	—		$	102,121
Corporate debt securities		10,946		27		—			—			10,973
International government agency debt securities		10,089		8		(1	)		—			10,096

		123,128		64		(2	)		—			123,190

Money market funds		1,201		—		—			—			1,201

		124,329		64		(2	)		—			124,391

Long-term investments:
Available-for-sale securities:
U.S. government and agency debt securities		60,047		—		(17	)		—			60,030
Corporate debt securities		18,725		—		(26	)		(162	)		18,537
International government agency debt securities		3,060		—		—			—			3,060

		81,832		—		(43	)		(162	)		81,627

Held-to-maturity securities:
Certificates of deposit		1,200		—		—			—			1,200

		83,032		—		(43	)		(162	)		82,827

Total investments	$	207,361	$	64	$	(45	)	$	(162	)	$	207,218

March 31, 2012
Short-term investments:
Available-for-sale securities:
U.S. government and agency debt securities	$	62,925	$	67	$	(17	)	$	—		$	62,975
International government agency debt securities		25,646		22		(2	)		—			25,666
Corporate debt securities		12,324		27		—			—			12,351

		100,895		116		(19	)		—			100,992

Held-to-maturity securities:
Certificates of deposit		4,236		—		—			—			4,236
U.S. government obligations		417		—		—			—			417

		4,653		—		—			—			4,653

Money market funds		1,201		—		—			—			1,201

		106,749		116		(19	)		—			106,846

Long-term investments:
Available-for-sale securities:
U.S. government and agency debt securities		35,493		—		(70	)		—			35,423
International government agency debt securities		10,257		—		(20	)		—			10,237
Corporate debt securities		8,009		—		—			(660	)		7,349
Strategic investments		644		838		—			—			1,482

		54,403		838		(90	)		(660	)		54,491

Held-to-maturity securities:
Certificates of deposit		1,200		—		—			—			1,200

		55,603		838		(90	)		(660	)		55,691

Total investments	$	162,352	$	954	$	(109	)	$	(660	)	$	162,537

Proceeds from the sales and maturities of marketable securities, plus the resulting realized gains and losses

	Year Ended March 31,

(In thousands)	2013		2012		2011
Proceeds from the sales and maturities of marketable securities	$	258,937	$	323,028	$	385,511
Realized gains	$	39	$	47	$	77
Realized losses	$	5	$	11	$	32

The cost and fair value of available-for-sale and held-to-maturity securities by contractual maturity

	Available-for-sale				Held-to-maturity

(In thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Within 1 year	$	80,388	$	80,399	$	1,200	$	1,200
After 1 year through 5 years		124,572		124,418		—		—

Total	$	204,960	$	204,817	$	1,200	$	1,200

FAIR VALUE (Tables)

12 Months Ended

Mar. 31, 2013

FAIR VALUE

Summary of the Company's assets and liabilities measured at fair value on a recurring basis

(In thousands)	March 31, 2013			Level 1		Level 2			Level 3

Assets:
Cash equivalents	$	1,201		$	1,201	$	—		$	—
U.S. government and agency debt securities		162,151			75,025		87,126			—
International government agency debt securities		13,156			—		13,156			—
Corporate debt securities		29,510			—		29,510			—

Total	$	206,018		$	76,226	$	129,792		$	—

Liabilities:
Interest rate swap contract	$	(541	)		—		(541	)		—

Total	$	(541	)	$	—	$	(541	)	$	—

	March 31, 2012			Level 1		Level 2			Level 3

Assets:
Cash equivalents	$	1,201		$	1,201	$	—		$	—
U.S. government and agency debt securities		98,398			98,398		—			—
International government agency debt securities		35,903			30,902		—			5,001
Corporate debt securities		19,700			—		14,045			5,655
Strategic equity investments		1,482			1,482		—			—
Interest rate cap contracts		20			—		20			—

	$	156,704		$	131,983	$	14,065		$	10,656

Liabilities:
Interest rate swap contract	$	(522	)		—		(522	)		—

Total	$	(522	)	$	—	$	(522	)	$	—

Roll forward of the fair value of the Company's investments whose fair value was determined using Level 3 inputs

(In thousands)	Fair Value

Balance, April 1, 2012	$	10,656
Investments transferred into Level 3		1,579
Investments transferred out of Level 3		(12,247	)
Total unrealized gains included in comprehensive loss		12

Balance, March 31, 2013	$	—

Estimated fair value of term loans

(In thousands)	Carrying Value		Estimated Fair Value

Term Loan B-1	$	296,029	$	298,375
Term Loan B-2	$	72,979	$	73,308

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

INVENTORY (Tables)

12 Months Ended

Mar. 31, 2013

INVENTORY

Schedule of inventories

	March 31,

(In thousands)	2013		2012
Raw materials	$	13,506	$	12,841
Work in process		13,842		9,569
Finished goods(1)		16,135		16,968
Consigned-out inventory(2)		—		381

Inventory	$	43,483	$	39,759

(1): At March 31, 2013 and 2012, the Company had $0.6 million and $1.3 million, respectively, of finished goods inventory located at its third party warehouse and shipping service provider.
(2): At March 31, 2012, consigned-out inventory related to VIVITROL inventory in the distribution channel for which the Company had not recognized revenue. As previously disclosed, in August 2012, the Company changed the way in which revenue is recognized on VIVITROL product sales, and, consequently, it no longer expects to have consigned-out inventory.

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Mar. 31, 2013

PROPERTY, PLANT AND EQUIPMENT

Schedule of property, plant and equipment

	March 31,

(In thousands)	2013			2012
Land	$	8,357		$	8,891
Building and improvements		141,092			127,583
Furniture, fixture and equipment		197,743			189,262
Leasehold improvements		24,137			45,798
Construction in progress		39,399			44,768

Subtotal		410,728			416,302
Less: accumulated depreciation		(122,293	)		(113,307	)

Total property, plant and equipment, net	$	288,435		$	302,995

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Mar. 31, 2013

GOODWILL AND INTANGIBLE ASSETS

Schedule of goodwill and intangible assets

			March 31, 2012							March 31, 2013

(In thousands)	Weighted Amortizable Life		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Goodwill			$	92,740	$	—		$	92,740	$	92,740	$	—		$	92,740

Finite-lived intangible assets:
Collaboration agreements		12	$	499,700	$	(17,734	)	$	481,966	$	499,700	$	(50,143	)	$	449,557
NanoCrystal technology		13		74,600		(1,839	)		72,761		74,600		(5,373	)		69,227
OCR technology		12		66,300		(3,182	)		63,118		66,300		(9,091	)		57,209
Trademark		—		2,600		(2,600	)		—		—		—			—

Total finite-lived intangible assets			$	643,200	$	(25,355	)	$	617,845	$	640,600	$	(64,607	)	$	575,993

Indefinite-lived intangible assets
IPR&D		—		45,800		(45,800	)		—		—		—			—

Total				$689,000		$(71,155	)		$617,845		$640,600		$(64,607	)		$575,993

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Mar. 31, 2013

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Schedule of accounts payable and accrued expenses

	March 31,

(In thousands)	2013		2012
Accounts payable	$	18,282	$	18,400
Accrued compensation		30,432		25,023
Accrued interest		970		2,472
Accrued other		27,226		33,259

Total accounts payable and accrued expenses	$	76,910	$	79,154

RESTRUCTURING (Tables)

12 Months Ended

Mar. 31, 2013

RESTRUCTURING

Schedule of restructuring charges recorded

In connection with the Plan, the Company recorded restructuring charges consisting of the following within "Restructuring" in the accompanying consolidated statements of operations and comprehensive income (loss), (in thousands):


Severance	$	12,100
Outplacement services		200

Total	$	12,300

LONG-TERM DEBT (Tables)

12 Months Ended

Mar. 31, 2013

LONG-TERM DEBT

Schedule of long-term debt

(In thousands)	March 31, 2013			March 31, 2012

Term Loan B-1, due September 25, 2019	$	296,029		$	—
Term Loan B-2, due September 25, 2016		72,979			—
First Lien Term Loan, due September 16, 2017		—			306,822
Second Lien Term Loan, due September 16, 2018		—			137,638

Total		369,008			444,460
Less: current portion		(6,750	)		(3,100	)

Long-term debt	$	362,258		$	441,360

Scheduled maturities with respect to the 2013 Term Loans

Scheduled maturities with respect to the 2013 Term Loans are as follows (in thousands):


Fiscal Year:
2014	$	6,750
2015		6,750
2016		6,750
2017		64,875
2018		3,000
Thereafter		283,500

Total	$	371,625

Schedule of debt refinancing interest expense recognized in condensed consolidated statement of operations and comprehensive income (loss)

(In thousands)	September 2012 Refinancing		February 2013 Repricing		Total

Extinguished debt:
Unamortized deferred financing costs	$	4,600	$	1,566	$	6,166
Unamortized original issue discount		2,657		1,435		4,094
Modified debt:
Debt financing costs		1,967		807		2,772
Original issue discount		105		—		105
Prepayment penalty		2,800		3,733		6,533

Total	$	12,129	$	7,541	$	19,670

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Mar. 31, 2013

DERIVATIVE INSTRUMENTS

Summary of changes in accumulated derivative loss for the interest rate swap

The following table summarizes the beginning and ending accumulated derivative loss for the interest rate swap (in thousands):


Unrealized losses included in accumulated other comprehensive income at March 31, 2012	$	(522	)
Unrealized losses incurred during the year ended March 31, 2013		(72	)
Reclassification of unrealized losses to realized losses during the year ended March 31, 2013		594

Unrealized losses included in accumulated other comprehensive income at March 31, 2013	$	—

Summary of fair value and presentation in the condensed consolidated balance sheets for derivatives designated and not designated as hedging instruments

The following table summarizes the fair value and presentation in the consolidated balance sheets for the Company's hedging instruments (in thousands):

		Fair Value

(In thousands)	Balance Sheet Location	March 31, 2013			March 31, 2012
Interest rate swap
Liability derivative not designated as a cash flow hedge	Other long-term liabilities	$	(541	)		—
Liability derivative designated as a cash flow hedge	Other long-term liabilities	$	—			(522	)

EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Mar. 31, 2013

EARNINGS (LOSS) PER SHARE

Schedule of weighted average number of ordinary shares outstanding, as adjusted for the effect of potential outstanding shares, including stock options and restricted stock units

	Year Ended March 31,

(In thousands)	2013		2012			2011
Numerator:
Net income (loss)	$	24,983	$	(113,678	)	$	(45,540	)

Denominator:
Weighted average number of ordinary shares outstanding		131,713		114,702			95,610
Effect of dilutive securities:
Stock options		4,025		—			—
Restricted stock units		1,362		—			—

Dilutive ordinary share equivalents		5,387		—			—

Shares used in calculating diluted earnings (loss) per share		137,100		114,702			95,610

Schedule of anti-dilutive potential common equivalent shares excluded from calculation of net income (loss) per share

	Year Ended March 31,

(In thousands)	2013		2012		2011
Stock options		4,497		8,299		13,357
Restricted stock units		—		1,205		936

Total		4,497		9,504		14,293

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2013

SHARE-BASED COMPENSATION

Schedule of share-based compensation expense

	Year Ended March 31,

(In thousands)	2013		2012		2011
Cost of goods manufactured and sold	$	4,375	$	2,962	$	1,725
Research and development		9,078		8,784		6,218
Selling, general and administrative		21,263		17,080		11,889

Total share-based compensation expense	$	34,716	$	28,826	$	19,832

Summary of stock option activity

			Weighted Average Exercise Price

Outstanding, April 1, 2012	17,359,760		$	13.68
Granted	2,535,500		$	16.84
Exercised	(3,052,642	)	$	11.26
Forfeited	(334,063	)	$	14.98
Expired	(57,451	)	$	20.12

Outstanding, March 31, 2013	16,451,104		$	14.57

Exercisable, March 31, 2013	10,321,840		$	14.13

Summary of time-vested RSU activity

			Weighted Average Grant Date Fair Value

Unvested, April 1, 2012	2,114,176		$	13.45
Granted	1,032,530		$	16.55
Vested	(799,935	)	$	12.41
Forfeited	(120,000	)	$	15.70

Unvested, March 31, 2013	2,226,771		$	15.14

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References + Details

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2013

INCOME TAXES

Schedule of components of company's provision (benefit) for income taxes

	Year Ended March 31,

(In thousands)	2013			2012			2011
Current income tax provision (benefit):
U.S. federal	$	8,152		$	7,321		$	(756	)
U.S. state		2,588			6,649			30
Rest of world		1,758			28			—
Deferred income tax (benefit) provision:
Ireland		(1,961	)		(4,551	)		—
U.S. federal		—			(10,024	)		(206	)
U.S. state		(79	)		(137	)		(19	)

Total tax provision (benefit)	$	10,458		$	(714	)	$	(951	)

Schedule of income (loss) before provision for income taxes by geographical area

	Year Ended March 31,

(In thousands)	2013			2012			2011
Ireland	$	(14,722	)	$	(36,711	)	$	—
U.S.		23,503			(84,858	)		(46,491	)
Rest of world		26,660			7,177			—

Income (loss) before provision for income taxes	$	35,441		$	(114,392	)	$	(46,491	)

Schedule of components of the company's net deferred tax liabilities

	March 31,

(In thousands)	2013			2012
Deferred tax assets:
Irish NOL carryforwards	$	55,842		$	55,176
Tax benefit from the exercise of stock options		8,437			22,089
Share-based compensation		23,468			21,992
Tax credit carryforwards		10,543			12,294
U.S. federal and state NOL carryforwards		496			1,516
Alkermes Europe, Ltd. NOL carryforward		—			4,675
Deferred revenue		1,682			1,778
Intangible assets		277			748
Property, plant and equipment		653			—
Bonus accrual		7,034			5,849
Other		9,150			9,774
Less: valuation allowance		(86,714	)		(107,128	)

Total deferred tax assets		30,868			28,763

Deferred tax liabilities:
Intangible assets		(40,968	)		(43,606	)
Property, plant and equipment		(19,607	)		(19,049	)
Other		(2,072	)		—

Total deferred tax liabilities		(62,647	)		(62,655	)

Net deferred tax liabilities	$	(31,779	)	$	(33,892	)

Schedule of current and non-current deferred tax assets (liabilities)

	Year Ended March 31,

(In thousands)	2013			2012
Current deferred tax assets	$	5,824		$	656
Current deferred tax liabilities		—			(36	)
Non-current deferred tax liabilities		(37,603	)		(34,512	)

Net deferred tax liabilities	$	(31,779	)	$	(33,892	)

Schedule of reconciliation of the company's federal statutory tax rate to its effective rate

	Year Ended March 31,

	2013			2012			2011
Statutory rate		12.5	%		12.5	%		34.0	%
U.S. state income taxes, net of U.S. federal benefit		4.7	%		(6.8	)%		—	%
R&D credit		—	%		—	%		1.4	%
Share-based compensation		3.3	%		(0.7	)%		(2.6	)%
Non-refundable withholding tax		4.7	%		—	%		—	%
Permanent items		(8.2	)%		—	%		(0.6	)%
Change in valuation allowance		(28.0	)%		47.3	%		(30.1	)%
Rate differential		40.5	%		(51.7	)%		—	%

Effective tax rate		29.5	%		0.6	%		2.1	%

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

(In thousands)	Unrecognized Tax Benefits

Balance, April 1, 2010	$	3,373
Additions based on tax positions related to prior periods		1,560

Balance, March 31, 2011		4,933
Additions based on tax positions related to prior periods		1,741
Decreases due to lapse of statute of limitations		(68	)

Balance, March 31, 2012		6,606
Additions based on tax positions related to prior periods		1,065
Decreases due to settlements with tax authorities		(413	)

Balance, March 31, 2013	$	7,258

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Mar. 31, 2013

COMMITMENTS AND CONTINGENCIES

Schedule of future minimum rental commitments under non-cancelable operating leases

(In thousands)	Payment Amount

Fiscal Years:
2014	$	3,838
2015		4,068
2016		3,970
2017		3,473
2018		3,650
Thereafter		8,350

		27,349
Less: estimated sublease income		(1,956	)

Total future minimum lease payments	$	25,393

THE COMPANY (Details)	12 Months Ended
THE COMPANY (Details)	Mar. 31, 2013 product
THE COMPANY
Minimum number of commercial drug products in Company's diversified portfolio	20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Asset Retirement Obligations
Asset retirement obligation	$ 2,000	$ 1,900
Changes in the carrying amount of the company's asset retirement obligation
Balance at the beginning of the period	1,862	1,692
Accretion expense	187	170
Balance at the end of the period	$ 2,049	$ 1,862
Building and improvements \| Minimum
Property, plant and equipment
Estimated useful life	15 years
Building and improvements \| Maximum
Property, plant and equipment
Estimated useful life	40 years
Furniture, fixture and equipment \| Minimum
Property, plant and equipment
Estimated useful life	3 years
Furniture, fixture and equipment \| Maximum
Property, plant and equipment
Estimated useful life	10 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
Collaborative arrangements
Deferred revenue, short-term	$ 2,270	$ 6,910
Deferred revenue, long-term	8,866	$ 7,578
Collaboration Agreements
Collaborative arrangements
Deferred revenue from milestone payment received prior to April 1, 2011	4,300
Remaining Performance obligations	$ 0

- Definition

The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2012	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Revenue Recognition
Increase in product sales, net	$ 1,700,000
Product return reserve as percentage of product sales		2.00%
Product return reserve		$ 3,200,000
Maximum monthly co-pay assistance		500
Foreign Currency
Gain on foreign currency translation		$ 100,000	$ 500,000	$ 0

- Definition

The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses).

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4)	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Receivables \| Janssen
Concentrations
Concentration risk percentage	32.00%	30.00%	75.00%
Receivables \| Acorda
Concentrations
Concentration risk percentage	15.00%	11.00%
Revenue \| Janssen
Concentrations
Concentration risk percentage	35.00%	48.00%	83.00%
Revenue \| Acorda
Concentrations
Concentration risk percentage	11.00%
Accounts receivable
Concentrations
Threshold percentage for disclosure of revenue and receivables	10.00%
Revenues, net
Concentrations
Threshold percentage for disclosure of revenue and receivables	10.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Geographic Information
Current assets:	$ 408,588	$ 339,153
U.S
Geographic Information
Revenue by region:	380,565	212,859	$ 76,700
Current assets:	248,441	209,683	252,960
Long-term assets:	233,369	217,406	199,488
Ireland
Geographic Information
Revenue by region:	14,455	12,695	805
Current assets:	159,544	122,077
Long-term assets:	828,334	878,658
Rest of world
Geographic Information
Revenue by region:	180,528	164,423	$ 109,135
Current assets:	$ 603	$ 7,393

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6)	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Stock Options
Share-based compensation
Expiration period	10 years
Vesting rights per year (as a percent)	25.00%
Vesting period	4 years
Weighted-average assumptions
Expected stock volatility, minimum (as a percent)	47.00%	47.00%	46.00%
Expected stock volatility, maximum (as a percent)	49.00%	51.00%	51.00%
Risk-free interest rate, minimum (as a percent)	0.61%	0.82%	1.11%
Risk-free interest rate, maximum (as a percent)	1.18%	2.50%	3.42%
Expected annual dividend yield (as a percent)	0.00%
Stock Options \| Minimum
Weighted-average assumptions
Expected option term	5 years	5 years	5 years
Stock Options \| Maximum
Weighted-average assumptions
Expected option term	7 years	7 years	7 years
Stock Options \| Directors
Share-based compensation
Expiration period	10 years
Vesting period	1 year
Time-vested RSUs
Share-based compensation
Vesting rights per year (as a percent)	25.00%
Vesting period	4 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 7) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2012	Mar. 31, 2013 USD ($)	Mar. 31, 2013 EUR (€)	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($)
401 (K) Plan \| United States
Employee benefit plans
Employee contribution limit as a percentage of their eligible compensation		100.00%	100.00%	100.00%
Percentage of employer contribution matched of the first employee pay	100.00%			50.00%
Percentage of employee pay matched by the employer				6.00%
Employer contribution		$ 4.1		$ 2.5	$ 2.0
Maximum employee contribution limit as a percentage of their total taxable earnings	5.00%
Defined Contribution Plan
Employee benefit plans
Maximum percentage of employer contribution matched of employee's		18.00%	18.00%
Employer contribution		$ 3.7		$ 1.8	$ 0.0
Maximum employee contribution limit as a percentage of their total taxable earnings		40.00%	40.00%
Per employee contribution limit \| €			€ 115,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 8) $ in Thousands	12 Months Ended
	Mar. 31, 2013 USD ($) segment	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($)
Segment Information
Number of business segments \| segment	1
Reclassifications
Reclassification to impairment of long-lived assets	$ 3,346	$ 45,800
Reclassification from proceeds from the issuance of ordinary shares under share-based compensation arrangements	34,360	20,864	$ 6,158
Reclassification to employee taxes paid related to net share settlement of equity awards	$ 4,809	3,676	1,414
Reclassifications to statement of cash flows
Reclassifications
Reclassification from amortization of acquired intangibles		45,800
Reclassification to impairment of long-lived assets		45,800
Reclassifications to statement of cash flows \| Adjustments
Reclassifications
Reclassification from proceeds from the issuance of ordinary shares under share-based compensation arrangements		(3,700)	(1,400)
Reclassification to employee taxes paid related to net share settlement of equity awards		3,700	$ 1,400
Reclassifications to statements of operations and comprehensive income (loss)
Reclassifications
Reclassification from amortization of acquired intangibles		45,800
Reclassification to impairment of long-lived assets		$ 45,800

ACQUISITIONS (Details) - EDT $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2011 item shares	Mar. 31, 2012 USD ($)	Sep. 16, 2011 USD ($) $ / shares
Acquisitions
Cash paid for acquisition			$ 500,000
Ordinary shares issued as consideration in the acquisition \| shares	31.9
Value of ordinary shares issued as consideration in the acquisition			$ 525,100
Closing stock price (in dollars per share) \| $ / shares			$ 16.46
Number of principal drug technology platforms \| item	2
Expenses related to acquisition		$ 29,100
Revenues from acquired business		165,000
Net loss from acquired business		$ (6,300)

ACQUISITIONS (Details 2) - EDT $ in Thousands	Sep. 16, 2011 USD ($)
Purchase price of the EDT business
Upfront payment in accordance with the merger agreement	$ 500,000
Equity consideration in accordance with the merger agreement	525,074
Total purchase price	1,025,074
Purchase price allocation of assets acquired and liabilities assumed
Cash	5,225
Receivables	59,398
Inventory	29,669
Prepaid expenses and other current assets	1,806
Property plant and equipment	210,558
Acquired identifiable intangible assets	689,000
Goodwill	92,740
Other assets	4,360
Accounts payable and accrued expenses	(18,650)
Deferred tax liabilities	(48,448)
Other long-term liabilities	(584)
Total	$ 1,025,074

ACQUISITIONS (Details 3) $ in Thousands	3 Months Ended	12 Months Ended
ACQUISITIONS (Details 3) $ in Thousands	Mar. 31, 2012 USD ($) item	Mar. 31, 2012 USD ($) item	Sep. 16, 2011 USD ($)
EDT
Intangible assets acquired
Intangible assets acquired, finite-lived			$ 689,000
In-process research and development
Intangible assets acquired
Impairment charge	$ 45,800
In-process research and development \| EDT
Intangible assets acquired
Intangible assets acquired, indefinite-lived			45,800
Impairment charge		$ 45,800
Number of products \| item	3	3
Collaboration agreements \| EDT
Intangible assets acquired
Intangible assets acquired, finite-lived			499,700
Estimated useful life of intangible assets acquired		12 years
Discount rate (as a percent)		14.50%
NanoCrystal technology \| EDT
Intangible assets acquired
Intangible assets acquired, finite-lived			74,600
Estimated useful life of intangible assets acquired		13 years
Discount rate (as a percent)		14.50%
OCR technology \| EDT
Intangible assets acquired
Intangible assets acquired, finite-lived			66,300
Estimated useful life of intangible assets acquired		12 years
Discount rate (as a percent)		14.50%
Trademark \| EDT
Intangible assets acquired
Intangible assets acquired, finite-lived			$ 2,600

ACQUISITIONS (Details 4) - EDT - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Unaudited pro forma information
Revenues	$ 500,105	$ 450,222
Net (loss) income	$ (108,782)	$ 10,265
Basic and diluted (loss) earnings per common share	$ (0.84)	$ 0.08

INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
Total investments
Amortized Cost	$ 207,361	$ 162,352
Gross Unrealized Gains	64	954
Gross Unrealized Losses, Less than One Year	(45)	(109)
Gross Unrealized Losses, Greater than One Year	(162)	(660)
Estimated Fair Value	207,218	162,537
Short-term investments
Available-for-sale securities:
Amortized Cost	123,128	100,895
Gross Unrealized Gains	64	116
Gross Unrealized Losses, Less than One Year	(2)	(19)
Estimated Fair Value	123,190	100,992
Held-to-maturity securities:
Amortized Cost		4,653
Estimated Fair Value		4,653
Total investments
Amortized Cost	124,329	106,749
Gross Unrealized Gains	64	116
Gross Unrealized Losses, Less than One Year	(2)	(19)
Estimated Fair Value	124,391	106,846
Short-term investments \| Money market funds
Total investments
Amortized Cost	1,201	1,201
Estimated Fair Value	1,201	1,201
Short-term investments \| Certificates of deposit
Held-to-maturity securities:
Amortized Cost		4,236
Estimated Fair Value		4,236
Short-term investments \| U.S. government obligations
Held-to-maturity securities:
Amortized Cost		417
Estimated Fair Value		417
Short-term investments \| U.S. government and agency debt securities
Available-for-sale securities:
Amortized Cost	102,093	62,925
Gross Unrealized Gains	29	67
Gross Unrealized Losses, Less than One Year	(1)	(17)
Estimated Fair Value	102,121	62,975
Short-term investments \| International government agency debt securities
Available-for-sale securities:
Amortized Cost	10,089	25,646
Gross Unrealized Gains	8	22
Gross Unrealized Losses, Less than One Year	(1)	(2)
Estimated Fair Value	10,096	25,666
Short-term investments \| Corporate debt securities
Available-for-sale securities:
Amortized Cost	10,946	12,324
Gross Unrealized Gains	27	27
Estimated Fair Value	10,973	12,351
Long-term investments
Available-for-sale securities:
Amortized Cost	81,832	54,403
Gross Unrealized Gains		838
Gross Unrealized Losses, Less than One Year	(43)	(90)
Gross Unrealized Losses, Greater than One Year	(162)	(660)
Estimated Fair Value	81,627	54,491
Held-to-maturity securities:
Amortized Cost	83,032	55,603
Gross Unrealized Gains		838
Gross Unrealized Losses, Less than One Year	(43)	(90)
Gross Unrealized Losses, Greater than One Year	(162)	(660)
Estimated Fair Value	82,827	55,691
Long-term investments \| Certificates of deposit
Held-to-maturity securities:
Amortized Cost	1,200	1,200
Estimated Fair Value	1,200	1,200
Long-term investments \| U.S. government and agency debt securities
Available-for-sale securities:
Amortized Cost	60,047	35,493
Gross Unrealized Losses, Less than One Year	(17)	(70)
Estimated Fair Value	60,030	35,423
Long-term investments \| International government agency debt securities
Available-for-sale securities:
Amortized Cost	3,060	10,257
Gross Unrealized Losses, Less than One Year		(20)
Estimated Fair Value	3,060	10,237
Long-term investments \| Corporate debt securities
Available-for-sale securities:
Amortized Cost	18,725	8,009
Gross Unrealized Losses, Less than One Year	(26)
Gross Unrealized Losses, Greater than One Year	(162)	(660)
Estimated Fair Value	$ 18,537	7,349
Long-term investments \| Strategic investments
Available-for-sale securities:
Amortized Cost		644
Gross Unrealized Gains		838
Estimated Fair Value		$ 1,482

INVESTMENTS (Details 2) - USD ($) $ in Thousands	12 Months Ended
INVESTMENTS (Details 2) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
INVESTMENTS
Proceeds from the sales and maturities of marketable securities	$ 258,937	$ 323,028	$ 385,511
Realized gains	39	47	77
Realized losses	5	$ 11	$ 32
Sale of held-to-maturity securities	4,700
Gain (loss) on sale of held-to-maturity securities	$ 0

- Definition

The cash inflow associated with the aggregate amount received by the entity through sale or maturity of marketable securities (held-to-maturity or available-for-sale) during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 12
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 16
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 16
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

INVESTMENTS (Details 3) $ in Thousands	Mar. 31, 2013 USD ($)
Available-for-sale, Amortized Cost
Within 1 year	$ 80,388
After 1 year through 5 years	124,572
Total	204,960
Available-for-sale, Estimated Fair Value
Within 1 year	80,399
After 1 year through 5 years	124,418
Total	204,817
Held-to-maturity, Amortized Cost
Within 1 year	1,200
Total	1,200
Held-to-maturity, Estimated Fair Value
Within 1 year	1,200
Total	$ 1,200

INVESTMENTS (Details 4) shares in Millions, $ in Millions	12 Months Ended
INVESTMENTS (Details 4) shares in Millions, $ in Millions	Mar. 31, 2013 USD ($)	Mar. 31, 2012 USD ($) shares	Dec. 31, 2012 USD ($) item
INVESTMENTS
Investment in Acceleron Pharma, Inc., a collaborative partner	$ 8.7	$ 8.7
Equity method investment
Promissory note			$ 1.1
Civitas
Equity method investment
Carrying value of equity investment	$ 0.8	$ 2.0
Ownership percentage	11.00%
Shares of Series A preferred stock issued \| shares		14.3
Proceeds from issuance of shares of Series A preferred stock		$ 12.5
Percentage of Series A preferred stock received by the entity		12.40%
Increase in carrying value of equity method investment		$ 1.5
Period of amortization of deferred gain		4 years
Reduction in carrying value of investment of the entity, which represents the Company's share of investee's net losses	$ 1.2
Number of other existing investors \| item			4
Promissory note			$ 9.0
Stated interest rate on promissory note (as a percent)			6.00%

FAIR VALUE (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
Recurring basis
Fair value
Assets, Total	$ 206,018	$ 156,704
Level 1 \| Recurring basis
Fair value
Assets, Total	76,226	131,983
Level 2 \| Recurring basis
Fair value
Assets, Total	129,792	14,065
Liabilities, Total	(541)	(522)
Level 3 \| Recurring basis
Fair value
Assets, Total		10,656
Total \| Recurring basis
Fair value
Liabilities, Total	(541)	(522)
Interest rate cap contracts \| Level 2 \| Recurring basis
Fair value
Interest rate cap contracts		20
Interest rate cap contracts \| Total \| Recurring basis
Fair value
Interest rate cap contracts		20
Interest rate swap contract \| Level 2 \| Recurring basis
Fair value
Interest rate swap contract	(541)	(522)
Interest rate swap contract \| Total \| Recurring basis
Fair value
Interest rate swap contract	(541)	(522)
Cash equivalents \| Level 1 \| Recurring basis
Fair value
Available for sale securities	1,201	1,201
Cash equivalents \| Total \| Recurring basis
Fair value
Available for sale securities	1,201	1,201
U.S. government and agency debt securities
Fair value
Transfer of securities from level 1 to level 2	87,100
U.S. government and agency debt securities \| Level 1 \| Recurring basis
Fair value
Available for sale securities	75,025	98,398
U.S. government and agency debt securities \| Level 2 \| Recurring basis
Fair value
Available for sale securities	87,126
U.S. government and agency debt securities \| Total \| Recurring basis
Fair value
Available for sale securities	162,151	98,398
International government agency debt securities
Fair value
Transfer of securities from level 1 to level 2	3,100
International government agency debt securities \| Level 1 \| Recurring basis
Fair value
Available for sale securities		30,902
International government agency debt securities \| Level 2 \| Recurring basis
Fair value
Available for sale securities	13,156
International government agency debt securities \| Level 3 \| Recurring basis
Fair value
Available for sale securities		5,001
International government agency debt securities \| Total \| Recurring basis
Fair value
Available for sale securities	13,156	35,903
Corporate debt securities \| Level 2 \| Recurring basis
Fair value
Available for sale securities	29,510	14,045
Corporate debt securities \| Level 3 \| Recurring basis
Fair value
Available for sale securities		5,655
Corporate debt securities \| Total \| Recurring basis
Fair value
Available for sale securities	$ 29,510	19,700
Strategic equity investments \| Level 1 \| Recurring basis
Fair value
Available for sale securities		1,482
Strategic equity investments \| Total \| Recurring basis
Fair value
Available for sale securities		$ 1,482

FAIR VALUE (Details 2) $ in Thousands	12 Months Ended
FAIR VALUE (Details 2) $ in Thousands	Mar. 31, 2013 USD ($) item
Roll forward of the fair value of the Company's investments whose fair value was determined using Level 3 inputs
Balance at the beginning of the period	$ 10,656
Investments transferred into Level 3	1,579
Investments transferred out of Level 3	(12,247)
Total unrealized losses included in comprehensive loss	$ 12
Number of investments transferred from level 3 to level 2 \| item	2
Number of investments transferred from level 2 to level 1 \| item	0

FAIR VALUE (Details 3) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
FAIR VALUE (Details 3) - USD ($) $ in Thousands	Feb. 28, 2013	Sep. 30, 2012	Feb. 29, 2012	Mar. 31, 2013	Mar. 31, 2012
Estimated fair value of the Term Loans
Carrying Value				$ 369,008	$ 444,460
Term Loan B-1
Estimated fair value of the Term Loans
Fair value of remaining financial instruments not recognized at fair value				$ 300,000
Term loans maturity period				7 years
Variable interest rate base			LIBOR
Carrying Value				$ 296,029
Estimated Fair Value				298,375
Term Loan B-2
Estimated fair value of the Term Loans
Fair value of remaining financial instruments not recognized at fair value				$ 75,000
Term loans maturity period				4 years
Variable interest rate base			LIBOR
Carrying Value				$ 72,979
Estimated Fair Value				73,308
Term loan
Estimated fair value of the Term Loans
Carrying Value				$ 371,625
LIBOR \| Term Loan B-1
Estimated fair value of the Term Loans
Interest rate added to base rate (as a percent)	2.75%
Interest rate, variable interest rate floor	0.75%
LIBOR \| Term Loan B-2
Estimated fair value of the Term Loans
Interest rate added to base rate (as a percent)	2.75%
Interest rate, variable interest rate floor	0.00%
LIBOR \| Term loan
Estimated fair value of the Term Loans
Interest rate, variable interest rate floor		1.00%

INVENTORY (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
INVENTORY
Raw materials	$ 13,506	$ 12,841
Work in process	13,842	9,569
Finished goods	16,135	16,968
Consigned-out inventory		381
Total inventory	43,483	39,759
Finished goods inventory located at third party warehouse and shipping service provider	$ 600	$ 1,300

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Property, plant and equipment
Subtotal	$ 410,728	$ 416,302
Less: accumulated depreciation	(122,293)	(113,307)
Total property, plant and equipment, net	288,435	302,995
Depreciation expense	31,900	22,500	$ 8,700
Impairment of assets	3,346	45,800
Proceeds from sale of property, plant and equipment	193	35	$ 395
Land
Property, plant and equipment
Subtotal	8,357	8,891
Reclassification of property plant and equipment		700
Building and improvements
Property, plant and equipment
Subtotal	141,092	127,583
Furniture, fixture and equipment
Property, plant and equipment
Subtotal	197,743	189,262
Reclassification of property plant and equipment		11,500
Furniture, fixture and equipment \| Maximum
Property, plant and equipment
Carrying value at the time of disposition	100	100
Proceeds from sale of property, plant and equipment	100	100
Leasehold improvements
Property, plant and equipment
Subtotal	24,137	45,798
Construction in progress
Property, plant and equipment
Subtotal	$ 39,399	$ 44,768

GOODWILL AND INTANGIBLE ASSETS (Details) $ in Thousands	3 Months Ended	7 Months Ended	12 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Details) $ in Thousands	Mar. 31, 2012 USD ($) item	Oct. 31, 2012 USD ($)	Mar. 31, 2013 USD ($)
Intangible assets
Gross Carrying Amount	$ 92,740		$ 92,740
Goodwill	92,740		92,740
Finite-lived intangible assets:
Gross Carrying Amount	643,200		640,600
Accumulated Amortization	(25,355)		(64,607)
Net Carrying Amount	617,845		575,993
Intangible assets
Gross Carrying Amount	689,000		640,600
Accumulated Amortization	(71,155)		(64,607)
Net Carrying Amount	617,845		$ 575,993
Impairment of goodwill		$ 0
IPR&D
Indefinite-lived intangible assets:
Gross carrying amount	45,800
Accumulated Amortization	$ (45,800)
Intangible assets
Number of Product Candidates Acquired \| item	3
Impairment charge	$ 45,800
Collaboration agreements
Finite-lived intangible assets:
Weighted Amortizable Life			12 years
Gross Carrying Amount	499,700		$ 499,700
Accumulated Amortization	(17,734)		(50,143)
Net Carrying Amount	481,966		$ 449,557
NanoCrystal technology
Finite-lived intangible assets:
Weighted Amortizable Life			13 years
Gross Carrying Amount	74,600		$ 74,600
Accumulated Amortization	(1,839)		(5,373)
Net Carrying Amount	72,761		$ 69,227
OCR technology
Finite-lived intangible assets:
Weighted Amortizable Life			12 years
Gross Carrying Amount	66,300		$ 66,300
Accumulated Amortization	(3,182)		(9,091)
Net Carrying Amount	63,118		$ 57,209
Trademark
Finite-lived intangible assets:
Gross Carrying Amount	2,600
Accumulated Amortization	$ (2,600)

GOODWILL AND INTANGIBLE ASSETS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
GOODWILL AND INTANGIBLE ASSETS
Amortization expense	$ 41,852	$ 25,355
Expected amortization of intangible assets
2014	50,000
2015	60,000
2016	65,000
2017	70,000
2018	$ 70,000

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable	$ 18,282	$ 18,400
Accrued compensation	30,432	25,023
Accrued interest	970	2,472
Accrued other	27,226	33,259
Total accounts payable and accrued expenses	$ 76,910	$ 79,154

- Definition

Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

RESTRUCTURING (Details) $ in Thousands	12 Months Ended
RESTRUCTURING (Details) $ in Thousands	Mar. 31, 2013 USD ($) item
RESTRUCTURING
Total	$ 12,300
Expected accelerated depreciation
2014	10,000
2015	7,000
Athlone, Ireland manufacturing facility
RESTRUCTURING
Severance	12,100
Outplacement services	200
Total	12,300
Athlone, Ireland manufacturing facility \| Minimum
RESTRUCTURING
Estimated cost savings	$ 15,000
Athlone, Ireland manufacturing facility \| Maximum
RESTRUCTURING
Expected number of employees to be eliminated \| item	130
RESTRUCTURING
Estimated cost savings	$ 20,000

LONG-TERM DEBT (Details) - USD ($) $ in Thousands		1 Months Ended			12 Months Ended
LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Feb. 28, 2013	Sep. 30, 2012	Feb. 29, 2012	Mar. 31, 2013	Mar. 31, 2012
Long-term debt
Total					$ 369,008	$ 444,460
Less: current portion					(6,750)	(3,100)
Long-term debt					362,258	441,360
Original issue discount					2,600
2013 Term Loans
Long-term debt
Total					$ 371,625
Term of loan before amendment					1 year
Term of loan					6 months
Percentage of repricing premium on outstanding credit agreement balance, if prepayment is made in connection with an amendment to the agreement resulting in a refinancing transaction					1.00%
2013 Term Loans \| LIBOR
Long-term debt
Interest rate, variable interest rate floor			1.00%
New Term Loan Facility
Long-term debt
Percentage of repricing premium on credit agreement being repaid if the prepayment is made in connection with a refinancing transaction	1.00%
Incremental capacity					$ 140,000
Percentage of present value of future cash flows remaining under Existing Senior Credit Facilities	10.00%
Term Loan B-1, due September 25, 2019
Long-term debt
Total					296,029
Aggregate principal amount					300,000
Variable interest rate base				LIBOR
Original issue discount					$ 3,000
Term Loan quarterly amortization price as percentage of original principal amount					0.25%
Required quarterly principal payments	$ 800
Term Loan B-1, due September 25, 2019 \| LIBOR
Long-term debt
Interest rate, variable interest rate floor		0.75%
Interest rate added to base rate (as a percent)		2.75%
Term Loan B-2, due September 25, 2016
Long-term debt
Total					$ 72,979
Aggregate principal amount					75,000
Variable interest rate base				LIBOR
Original issue discount					$ 400
Term Loan quarterly amortization price as percentage of original principal amount					1.25%
Required quarterly principal payments	$ 900
Term Loan B-2, due September 25, 2016 \| LIBOR
Long-term debt
Interest rate, variable interest rate floor		0.00%
Interest rate added to base rate (as a percent)		2.75%
First Lien Term Loan, due September 16, 2017
Long-term debt
Total						306,822
Aggregate principal amount			$ 375,000
Second Lien Term Loan, due September 16, 2018
Long-term debt
Total						$ 137,638
Repayment of term loan			$ 75,000

LONG-TERM DEBT (Details 2) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
Scheduled maturities of Credit Agreement
Total	$ 369,008	$ 444,460
Secured Debt [Member]
Scheduled maturities of Credit Agreement
2014	6,750
2015	6,750
2016	6,750
2017	64,875
2018	3,000
Thereafter	283,500
Total	$ 371,625

LONG-TERM DEBT (Details 3) - USD ($) $ in Thousands	12 Months Ended
LONG-TERM DEBT (Details 3) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
Extinguished debt:
Unamortized deferred financing costs	$ 6,166
Unamortized original issue discount	4,094
Modified debt:
Debt financing costs	2,772
Original issue discount	105
Prepayment penalty	6,533
Total	19,670
Unamortized deferred financing costs at period end	3,300
Amortization of offering costs and discount	5,800	$ 3,500
Unamortized original issue discount	2,600
September 2012 Refinancing
Extinguished debt:
Unamortized deferred financing costs	4,600
Unamortized original issue discount	2,657
Modified debt:
Debt financing costs	1,967
Original issue discount	105
Prepayment penalty	2,800
Total	12,129
February 2013 Repricing
Extinguished debt:
Unamortized deferred financing costs	1,566
Unamortized original issue discount	1,435
Modified debt:
Debt financing costs	807
Prepayment penalty	3,733
Total	$ 7,541

DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Sep. 30, 2011	Dec. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Accumulated derivative loss for the interest rate swap
Unrealized losses incurred during the period				$ (72)	$ (327)
Reclassification of unrealized losses to realized losses				$ 594
Designated as cash flow hedge
Derivative instruments
Reclassified unrealized losses to interest expense			$ (600)
Interest rate caps \| Not designated as hedging instrument
Derivative instruments
Cost of interest rate cap	$ 100
Variable interest rate base				three-Month LIBOR
Notional value		$ 65,000		$ 160,000
Interest rate caps \| Not designated as hedging instrument \| Maximum
Derivative instruments
Cost of interest rate cap		100
Interest rate swap
Accumulated derivative loss for the interest rate swap
Unrealized losses included in accumulated other comprehensive income, at the beginning of the period				(522)
Unrealized losses incurred during the period				(72)
Reclassification of unrealized losses to realized losses				594
Unrealized losses included in accumulated other comprehensive income, at the end of the period					(522)
Interest rate swap \| Not designated as hedging instrument
Accumulated derivative loss for the interest rate swap
Unrealized losses included in accumulated other comprehensive income, at the end of the period				$ (541)
Interest rate swap \| Designated as cash flow hedge
Derivative instruments
Variable interest rate base				three-Month LIBOR
Notional value		$ 65,000
Accumulated derivative loss for the interest rate swap
Unrealized losses included in accumulated other comprehensive income, at the beginning of the period				$ (522)
Unrealized losses included in accumulated other comprehensive income, at the end of the period					$ (522)

EARNINGS (LOSS) PER SHARE (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Numerator:
Net income (loss)	$ 24,983	$ (113,678)	$ (45,540)
Denominator:
Weighted average number of ordinary shares outstanding	131,713	114,702	95,610
Effect of dilutive securities:
Stock options (in shares)	4,025
Restricted stock units (in shares)	1,362
Dilutive ordinary share equivalents	5,387
Shares used in calculating diluted earnings (loss) per share	137,100	114,702	95,610

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

EARNINGS (LOSS) PER SHARE (Details 2) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Denominator:
Anti-dilutive potential common equivalent shares excluded from calculation of net income (loss) per share	4,497	9,504	14,293
Stock options
Denominator:
Anti-dilutive potential common equivalent shares excluded from calculation of net income (loss) per share	4,497	8,299	13,357
Restricted stock units
Denominator:
Anti-dilutive potential common equivalent shares excluded from calculation of net income (loss) per share		1,205	936

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Millions		12 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Millions	Sep. 16, 2011	Mar. 31, 2013
SHAREHOLDERS' EQUITY
Value of shares authorized under repurchase program	$ 215.0
Value of shares available for repurchase pursuant to repurchase program		$ 101.0

SHARE-BASED COMPENSATION (Details) - USD ($) $ in Thousands	12 Months Ended
SHARE-BASED COMPENSATION (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Share-based Compensation Expense
Total share-based compensation expense	$ 34,716	$ 28,826	$ 19,832
Share based compensation expense capitalized	600	400	600
Cost of goods manufactured and sold
Share-based Compensation Expense
Total share-based compensation expense	4,375	2,962	1,725
Research and development
Share-based Compensation Expense
Total share-based compensation expense	9,078	8,784	6,218
Selling, general and administrative
Share-based Compensation Expense
Total share-based compensation expense	$ 21,263	$ 17,080	$ 11,889

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

SHARE-BASED COMPENSATION (Details 2) shares in Millions	12 Months Ended
SHARE-BASED COMPENSATION (Details 2) shares in Millions	Mar. 31, 2013 item shares
Share-Based Compensation
Number of share-based compensation plans under which awards are currently made	2
Number of share-based compensation plans under which no further awards will be made	5
Shares of common stock available for issuance \| shares	9.8
2011 Plan
Share-Based Compensation
Ratio of awards other than stock options counted against the total number of shares available for issuance	1.8
2008 Plan
Share-Based Compensation
Ratio of awards other than stock options counted against the total number of shares available for issuance	2

SHARE-BASED COMPENSATION (Details 3) - Stock Options - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Number of Shares
Outstanding at the beginning of the period (in shares)	17,359,760
Granted (in shares)	2,535,500
Exercised (in shares)	(3,052,642)
Forfeited (in shares)	(334,063)
Expired (in shares)	(57,451)
Outstanding at the end of the period (in shares)	16,451,104	17,359,760
Exercisable at the end of the period (in shares)	10,321,840
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 13.68
Granted (in dollars per share)	16.84
Exercised (in dollars per share)	11.26
Forfeited (in dollars per share)	14.98
Expired (in dollars per share)	20.12
Outstanding at the end of the period (in dollars per share)	14.57	$ 13.68
Exercisable at the end of the period (in dollars per share)	14.13
Additional disclosures
Weighted average grant-date fair value of stock options granted (in dollars per share)	$ 8.11	$ 8.00	$ 5.92
Aggregate intrinsic value of stock options exercised	$ 28.1	$ 11.1	$ 2.0
Stock options expected to vest
Stock options expected to vest (in shares)	6,000,000
Weighted average exercise price (in dollars per share)	$ 15.27
Weighted average contractual remaining life	8 years 3 months 18 days
Aggregate intrinsic value	$ 50.5
Additional disclosures
Aggregate intrinsic value of stock options exercisable	$ 98.8
Weighted average remaining contractual term of stock options exercisable	4 years 4 months 24 days
Unrecognized compensation cost	$ 20.3
Weighted average period for unrecognized compensation cost expected to be recognized	1 year 10 months 24 days
Cash received from option exercises	$ 34.4	$ 20.9

SHARE-BASED COMPENSATION (Details 4) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		12 Months Ended
	May 31, 2009	May 31, 2008	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2010
Time-vested RSUs
Number of Shares
Unvested at the beginning of the period (in shares)			2,114,176
Granted (in shares)			1,032,530
Vested (in shares)			(799,935)
Forfeited (in shares)			(120,000)
Unvested at the end of the period (in shares)			2,226,771	2,114,176
Weighted Average Grant Date Fair Value
Unvested at the beginning of the period (in dollars per share)			$ 13.45
Granted (in dollars per share)			16.55	$ 17.91	$ 11.74
Vested (in dollars per share)			12.41
Forfeited (in dollars per share)			15.70
Unvested at the end of the period (in dollars per share)			$ 15.14	$ 13.45
Additional disclosures
Fair value of RSU's vested			$ 9.9	$ 6.1	$ 4.0
Unrecognized compensation cost			$ 14.0
Weighted average period for unrecognized compensation cost expected to be recognized			1 year 10 months 24 days
Performance-based RSUs \| 2006 Plan
Number of Shares
Granted (in shares)	45,000
Forfeited (in shares)						(20,000)
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 8.55
Performance-based RSUs \| 2002 Plan
Number of Shares
Granted (in shares)		40,000
Forfeited (in shares)						(10,000)
Weighted Average Grant Date Fair Value
Granted (in dollars per share)		$ 9.48
Additional disclosures
Fair value of RSU's vested		$ 0.4
Derived service period		1 year 4 months 24 days

COLLABORATIVE ARRANGEMENTS (Details) $ in Thousands, item in Millions	12 Months Ended
	Mar. 31, 2013 USD ($) item	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($)
RISPERDAL CONSTA
Collaborative arrangements
Revenue recognized	$ 98,600	$ 129,800	$ 116,200
Acorda
Collaborative arrangements
Revenue recognized	65,000	25,800	0
Bristol-Myers
Collaborative arrangements
Revenue recognized	$ 23,800	18,800	2,900
License agreement \| Janssen \| RISPERDAL CONSTA
Collaborative arrangements
Royalty rate (as a percent)	2.50%
Notice period required to be given before termination of agreement	30 days
Period after the date of the first commercial sale of the product for license expiration	15 years
License agreement \| Janssen \| INVEGA SUSTENNA/XEPLION
Collaborative arrangements
Notice period required to be given before termination of agreement	3 months
Development milestone payment to be earned	$ 0
Revenue recognized	$ 63,500	18,000	0
License agreement \| Janssen \| INVEGA SUSTENNA/XEPLION \| Minimum
Collaborative arrangements
Royalty rate (as a percent)	5.00%
License agreement \| Janssen \| INVEGA SUSTENNA/XEPLION \| Maximum
Collaborative arrangements
Royalty rate (as a percent)	9.00%
License agreement \| Acorda
Collaborative arrangements
Period after the date of the first commercial sale of the product for license expiration	10 years
Milestone payment entitled to be received upon the initiation of phase 3 clinical trial	$ 1,000
Milestone payment entitled to be received upon the acceptance of NDA by the FDA	1,000
Milestone payment entitled to be received upon the approval of NDA by the FDA	1,500
Milestone payment entitled to be received upon the first commercial sale	$ 1,500
License agreement \| Acorda \| AMPYRA/ FAMPYRA
Collaborative arrangements
Royalty rate (as a percent)	10.00%
Notice period required to be given before termination of agreement	90 days
Manufacturing and supply agreement \| Janssen \| RISPERDAL CONSTA
Collaborative arrangements
Royalty rate (as a percent)	7.50%
Notice period required to be given before termination of agreement	6 months
Period for resolving default or breach after the receipt of notice for termination of agreement	60 days
Revenue recognized	$ 35,000	$ 38,500	$ 38,100
Manufacturing and supply agreement \| Janssen \| RISPERDAL CONSTA \| Minimum
Collaborative arrangements
Royalty rate upon termination of manufacturing and supply agreement (as a percent)	2.50%
Manufacturing and supply agreement \| Janssen \| RISPERDAL CONSTA \| Maximum
Collaborative arrangements
Royalty rate upon termination of manufacturing and supply agreement (as a percent)	5.00%
Manufacturing and supply agreement \| Acorda \| AMPYRA/ FAMPYRA
Collaborative arrangements
Royalty rate (as a percent)	8.00%
Notice period required to be given before termination of agreement	12 months
Manufacturing and supply agreement \| Acorda \| AMPYRA/ FAMPYRA \| Maximum
Collaborative arrangements
Percentage of total annual requirement of product that can be obtained from second source manufacturer	25.00%
Development and license agreement \| Bristol-Myers \| BYDUREON
Collaborative arrangements
Notice period required to be given before termination of agreement	180 days
Period after the date of the first commercial sale of the product for license expiration	10 years
Period for resolving default or breach after the receipt of notice for termination of agreement	60 days
Development milestone payment to be earned	$ 0
Royalty as a percentage of net sales from the first 40 million units	8.00%
Royalty as a percentage of net sales beyond the first 40 million units	5.50%
Threshold for number of units sold used to determine royalty rate \| item	40

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Deferred income tax (benefit) provision:
Deferred income tax (benefit) provision	$ (2,113)	$ (14,556)
Cumulative unremitted earnings of overseas subsidiaries	39,000
Income tax provision (benefit)	10,458	(714)	$ (951)
Income tax benefit due to utilization of NOL carryforwards	8,900
Provision on taxable transfer of the BYDEREON intellectual property		13,100
Benefit recorded to additional paid-in capital		4,300
Income tax expense associated with the increase in the value of certain securities			200
Ireland
Deferred income tax (benefit) provision:
Deferred income tax (benefit) provision	(1,961)	(4,551)
U.S. Federal
Current income tax provision (benefit):
Current income tax provision (benefit)	8,152	7,321	(756)
Deferred income tax (benefit) provision:
Deferred income tax (benefit) provision		(10,024)	(206)
Tax benefit in connection with the Business Combination		9,900
U.S. state
Current income tax provision (benefit):
Current income tax provision (benefit)	2,588	6,649	30
Deferred income tax (benefit) provision:
Deferred income tax (benefit) provision	(79)	(137)	$ (19)
Rest of world
Current income tax provision (benefit):
Current income tax provision (benefit)	1,758	$ 28
Deferred income tax (benefit) provision:
Cumulative unremitted earnings of overseas subsidiaries	$ 0

INCOME TAXES (Details 2) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 2) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Distribution of income (loss) before provision for income taxes
Income (loss) before the provision for income taxes	$ 35,441	$ (114,392)	$ (46,491)
Ireland
Distribution of income (loss) before provision for income taxes
Income (loss) before the provision for income taxes	(14,722)	(36,711)
U.S
Distribution of income (loss) before provision for income taxes
Income (loss) before the provision for income taxes	23,503	(84,858)	$ (46,491)
Rest of world
Distribution of income (loss) before provision for income taxes
Income (loss) before the provision for income taxes	$ 26,660	$ 7,177

INCOME TAXES (Details 3) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
Deferred tax assets :
Tax benefit from the exercise of stock options	$ 8,437	$ 22,089
Share-based compensation	23,468	21,992
Tax credit carryforwards	10,543	12,294
Deferred revenue	1,682	1,778
Intangible assets	277	748
Property, plant and equipment	653
Bonus accrual	7,034	5,849
Other	9,150	9,774
Less: valuation allowance	(86,714)	(107,128)
Total deferred tax assets	30,868	28,763
Deferred tax liabilities :
Intangible assets	(40,968)	(43,606)
Property, plant and equipment	(19,607)	(19,049)
Other	(2,072)
Total deferred tax liabilities	(62,647)	(62,655)
Net deferred tax liabilities	(31,779)	(33,892)
Schedule of current and non-current deferred tax assets (liabilities)
Current deferred tax assets	5,824	656
Current deferred tax liabilities		(36)
Non-current deferred tax liabilities	(37,603)	(34,512)
Net deferred tax liabilities	(31,779)	(33,892)
Alkermes Europe Ltd
Income taxes
NOL carryforwards		4,675
Ireland
Income taxes
Operating loss carryforwards	438,200
NOL carryforwards	55,842	55,176
Federal
Income taxes
Operating loss carryforwards	70,400
Amount of operating loss and tax credit carryforwards subject to annual limitation.	127,000
State
Income taxes
Operating loss carryforwards	8,700
Federal, State, and Local
Income taxes
NOL carryforwards	$ 496	$ 1,516

INCOME TAXES (Details 4) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 4) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012
Income taxes
Decrease in the valuation allowance due to the utilization of NOLs	$ 20,400
Net deferred tax liability related to acquired intellectual property	31,800
Additional tax benefits from stock option exercises that have not been recognized	8,437	$ 22,089
ASC 718
Income taxes
Additional tax benefits from stock option exercises that have not been recognized	34,500
Total tax benefit from the exercise of stock options including unrecognized benefits	$ 42,900

INCOME TAXES (Details 5) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details 5) - USD ($) $ in Thousands	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Reconciliation of the company's federal statutory tax rate to its effective rate
Statutory rate (as a percent)	12.50%	12.50%	34.00%
U.S. state income taxes, net of U.S. federal benefit (as a percent)	4.70%	(6.80%)
R&D credit			1.40%
Share-based compensation (as a percent)	3.30%	(0.70%)	(2.60%)
Non-refundable withholding tax (as a percent)	4.70%
Permanent items (as a percent)	(8.20%)		(0.60%)
Change in valuation allowance (as a percent)	(28.00%)	47.30%	(30.10%)
Rate differential (as a percent)	40.50%	(51.70%)
Effective tax rate (as a percent)	29.50%	0.60%	2.10%
Net reduction unrecognized tax benefits expected resolution of certain matters	$ 7,200
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at the beginning of the period	6,606	$ 4,933	$ 3,373
Additions based on tax positions related to prior periods	1,065	1,741	1,560
Decreases due to lapse of statute of limitations		(68)
Decreases due to settlements with tax authorities	(413)
Balance at the end of the period	7,258	6,606	4,933
Unrecognized tax benefit that would affect effective tax rate	$ 200
Minimum
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Period after loss carryforwards utilized that tax returns remain open to examination	3 years
Maximum
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Period after loss carryforwards utilized that tax returns remain open to examination	4 years
Net impact of timing difference errors related to uncertain tax positions
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at the beginning of the period	$ 4,200	3,000	1,500
Additions based on tax positions related to prior periods		1,200	1,500
Balance at the end of the period		$ 4,200	$ 3,000

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Future minimum rental commitments under non-cancelable operating leases
2014	$ 3,838
2015	4,068
2016	3,970
2017	3,473
2018	3,650
Thereafter	8,350
Total future minimum lease payments before estimated sublease income	27,349
Less: estimated sublease income	(1,956)
Total future minimum lease payments	25,393
Rent expense related to operating leases
Rent expense	5,000	$ 4,200	$ 5,400
Sublease income	2,600	$ 9,200	$ 7,300
Purchase commitments
Open purchase order commitments	$ 76,000
Minimum
Lease Commitments
Term of operating leases	1 year
Maximum
Lease Commitments
Term of operating leases	20 years
Provisions for extension of lease term	10 years