UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
ALKERMES PUBLIC LIMITED COMPANY
(Exact name of registrant as specified in its charter)
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(Address of principal executive offices) |
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Registrant's telephone number, including area code: +
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On October 13, 2022, an arbitration panel (the “Panel”) found that Alkermes Pharma Ireland Limited (“APIL”), an indirect subsidiary of Alkermes plc (the “Company” and together with its affiliates, “Alkermes”), must return to Acorda Therapeutics, Inc. (“Acorda”) approximately $16.5 million dollars (inclusive of prejudgment interest and administrative fees) paid under the Amended and Restated License Agreement by and between APIL (as successor to Elan Corporation, plc.) and Acorda dated September 26, 2003 (the “License Agreement”). This amount represents royalty fees paid to APIL by Acorda since July 2020 relating to AMPYRA®. In addition, as a result of the Panel’s ruling, Alkermes no longer has a contractual obligation to manufacture and supply AMPYRA® or a contractual right to receive future manufacturing or royalty fees for AMPYRA®. The Company expects to record this repayment as a reversal to manufacturing and royalty revenue for the quarter ended September 30, 2022.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ALKERMES PLC |
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Date: October 19, 2022 |
By: |
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/s/ David J. Gaffin |
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David J. Gaffin |
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Secretary |
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