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Hazlett Upgrades Alkermes (ALKS) to MARKET PERFORM from UNDERPERFORM

April 13, 2009

Healthcare research analyst Robert Hazlett, who covers Pharmaceuticals, has today upgraded Alkermes (ALKS) to a MARKET PERFORM rating from UNDERPERFORM.

From Hazlett's note: "Outlook for Alkermes’ Significant Programs: Consta. Risperdal Consta may be pressured a bit by foreign exchange and is to face competition from Lilly’s once-monthly Zypadhera in 2009 and from J&J’s once-monthly paliperidone palmitate in 2010 (if not sooner). But with a four-week Consta version underway, and a wealth of experience with the product, we believe this franchise can still post modest growth. Exenatide LAR. Lilly/Amylin are to file once-weekly Byetta by mid-year 2009. Questions are likely regarding cardiac and thyroid cancer risk assessment (and pancreatitis), so we expect approval in fiscal 2013 (see our April 3 note). Pipeline. There are several early stages but interesting and novel opioids for addiction, alcohol dependence, and pain, in development, in addition to a mid-stage COPD effort. These proprietary efforts could provide catalysts over time."

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